305 W 2nd St, Florence, CO 81226
|Purchased for $120,000.|
|Started remodel and major improvements.|
|Sold for $275,000 before completion.|
We purchased this neglected 4 unit Victorian several years ago. Other projects became a priority so it took a while to get going on this one. We replaced the roof and repainted the exterior to improve the curb appeal and protect it from the elements. We later replaced all of the plumbing and ran a new sewer line from a kitchen addition that was never hooked in properly. Once we got 90% of the way done with unit 3 an investor purchased the property and, with our general contractor, completed the project. As soon as each unit became available it was rented the same day 100% occupancy at market rate rent.