Investment/Rehab Opportunity: Stripper Pole Included!

Dawn Griffin Posted by
Investment Spotlight Jul 2007

The other day while touring a few places in the Skinker/Debaliviere neighborhood, I ran across this house on Waterman.

What’s intriguing about this property is the size, location and the projected value after rehab. It has 5 bedrooms and 2.5 baths, split among the three stories. It’s located within walking distance of Forest Park, Metrolink and Delmar Loop/Washington University amenities. Move-in ready homes of similar size in the neighborhood are going for about 250K and well done renovations for about 350K.

Don’t get me wrong, this house needs A LOT of work. Nearly every room has a laundry list of things that need to be done. One room has a small stage built with a stripper pole built in, with mirrored closet doors for that extra ambiance. The floor joists probably need to be replaced as the whole first floor is warped and a complete systems update would be a good idea.

stripperpole.jpg

It’s a huge amount of work that will probably take someone a long time to complete, but if you’re interested I’d suggest making an appointment with your Realtor and forming your own conclusions about it.

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Click here to view 5826 Waterman in the MLS.

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