Wednesday, July 24, 2013

"Blossom House" Can Be Yours to Rehab for $1.00!

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Monday evening the Preservation Board unanimously denied the proposed demolition of the so called "Blossom House" at 5331 Enright, just west of Union. I was unable to attend, but Michael Allen of Preservation Research Office was there to present a couple of National Register nominations. He spoke to the owner who said that they had acquired the house as part of a package of properties that they purchased from the Roberts Brothers that included the historic loft apartments housed in the former Smith Academy and Manual Training School as well as the large chunk of land fronting Enright where the Roberts had planned single family homes (they only built 3 on the site).

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The owner said that they would be willing to sell the Blossom House to anyone willing to rehab it! Like many real estate deals of this nature, Helix likely ended up with the house whether they wanted it or not so they could buy the lofts. If you are interested in this amazing opportunity, please contact Helix Realty at (314) 367-7646.

As I mentioned in my previous post, the house has been readied for rehab by having the interior walls taken to stud and the old MEP systems cleared out of the way. This could really be a fantastic house or possibly conversion to a couple of condos or apartments. This is an opportunity that does not happen often.

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The decorative stair railing at the 2nd floor is in excellent shape.

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The finished attic over the front of the house is spacious and has a lot of potential.

10 comments:

Anonymous said...

Paul - what's a ballpark or range for the cost of rehabbing a property of this size/condition? Could an individual cover it or would it take deeper pockets? I'm just curious about the possibilities.

Anonymous said...

There's 100-150K in there, at least.

Vanishing STL said...

Anonymous, It would depend upon whether you would bring in a general contractor todo the whole thing, of if you were willing/able to GC it your self and maybe do some basic labor yourself (like hanging drywall, installing cabinets, fixtures, etc.) If you were able to do some of this, you might be looking at $200-$250,000. If you have a GC do the whole thing, you could be looking at $350-$450,000.00 or more depending on what finishes you want. It is a big house... don't know exact square footage, but at least 3,000 s.f. for the 1st & 2nd floor (not counting the partially finished attic, which could be left as-is other than repairing the roof.

As for possibilities, you could do it as a single family, but you might be able to do it as rental with one nice 2-bed unit on each floor. As a rental you would be able to get the 20% Federal Historic Tax Credit on top of the 25% Missouri credit you could get as a single family owner occupied property.

Mochas on Maui said...

I posted thisto Nicole Curtis' inbox. Rehab Addict HGTV. She would do great in Da Lou

Anonymous said...

We have done several properties down there and have never even come close to spending $350000 - $450000? Including taking 2 and 4 family flats back to single family. The last gut rehab dollar house took $150000 and 90 days to complete. Sold for $250000 in less than a week when completed.

Anonymous said...

Will the neighborhood support a $350,000 - $400,000 house. What are the other property values in the neighborhood? Is the neighborhood going up or down?

Presbyterian said...

I'm told that Guy Slay just bought the Blossom House for renovation.

stlexplorer said...

Rehab is underway: http://www.flickr.com/photos/pasa/12036588815/

Vanishing STL said...

^Great to see!! Thanks for sharing!

Anonymous said...

Do you have any photo's up to date to see how the renovation is going.