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$100,000
26058822 MLS ⋅ ACTIVE Status
Versatile, income-producing opportunity in the heart of the Penrose neighborhood! Both the main and upper levels are currently tenant-occupied, providing rental income from the property from day one. Adding to its long-term flexibility, the property has a rare zoning variance allowing a daycare for up to 18 children on the main level, creating options for an investor or future owner with a variety of potential uses. The existing tenancy makes 4655 Farlin particularly appealing for an investor seeking a property with income already in place rather than starting with vacant units. Looking ahead, the property's distinctive configuration and daycare variance provide additional possibilities as leases and occupancy needs evolve, whether continuing its residential use or exploring the approved daycare use on the main level. Situated on a quieter one-way street, the property features a fenced yard that provides useful outdoor space, along with a garage accessed from the rear alley for convenient off-street parking and storage. The layout and exterior configuration lend themselves well to the property's flexible residential and permitted daycare uses. Located in the Penrose neighborhood, the property enjoys convenient access to public transportation, including multiple bus routes. Outdoor and community amenities include Penrose Park, WC Handy Park, Tink Bradley Playground, and nearby community gardens. Just minutes away, Fairground Park provides additional recreational opportunities with expansive green space, trails, and lakes. The area also offers convenient access to I-70, I-55, and downtown St. Louis, connecting the property with employment centers, hospitals, educational institutions, and other destinations throughout the city. Neighborhood schools, community organizations, churches, and everyday conveniences are also within the surrounding area. With tenants occupying both levels, existing rental income, a fenced yard, rear garage, and the unusual benefit of an approved daycare variance for up to 18 children on the main level, 4655 Farlin Avenue offers an investor a combination of current income and long-term flexibility that is difficult to replicate. Income potential, long-term ownership, and the ability to perform as a productive real estate asset are the reasons this property was selected as part of the Penthouse Portfolio Collection.

4655 Farlin Ave, St Louis
$60,000
4 Beds ⋅ 2 Baths ⋅ 26039121 MLS ⋅ ACTIVE Status
Exceptional Investor Opportunity with Outstanding ARV Potential! This stately brick home offers the rare chance to restore a property with remarkable historic character at an incredible entry price. Significantly larger than many renovated homes currently selling in the area, this property provides the square footage, architectural details, and upside investors seek when pursuing a high-value renovation. Much of the interior demolition has already been completed, allowing buyers to clearly envision the possibilities and begin planning the next phase of restoration. From the moment you step inside, you'll discover timeless craftsmanship waiting to be brought back to life. Impressive original millwork, a grand staircase, soaring ceilings, oversized rooms, and period architectural details provide the foundation for an exceptional restoration. The exposed basement offers buyers an excellent opportunity to evaluate the home's construction while planning their renovation. One of the home's most distinctive features is its original oversized window openings. At some point, smaller replacement windows were installed within the original masonry openings, but the expansive openings remain intact, presenting the opportunity to restore the home's original scale, dramatically increase natural light, and recreate the stunning appearance these rooms were originally designed to showcase. The current front entrance also offers tremendous potential, with the opportunity to replace it with a grand period-inspired entry that complements the home's historic architecture and dramatically enhances curb appeal. Located in an area experiencing substantial reinvestment and redevelopment following the 2025 tornado, this property is positioned in a neighborhood attracting renewed investor interest. While many nearby properties sustained significant storm damage, this home does not appear to have experienced the same level of damage, allowing the next owner to focus on restoring its historic character rather than rebuilding from catastrophic loss. Whether your vision is a profitable resale, an income-producing rental, being part of a major revitalization of North City, or the restoration of a beautiful historic residence for yourself on an FHA 203(k) renovation loan, the opportunity here is exceptional. The combination of generous square footage, preserved architectural character, and strong after-repair value potential makes this a project worthy of investment. Restore the craftsmanship, reopen the grand window openings, create an impressive front facade, and transform this property into one of the neighborhood's standout homes. Properties offering this combination of size, character, and upside are becoming increasingly difficult to find. Sold AS IS. Seller to make no repairs or provide inspections. Bring your contractor, your vision, and your imagination to unlock the full potential of this remarkable investment opportunity.

3067 Marcus Ave, St Louis