4824 Margaretta Avenue, St Louis City, MO, 63115

NICE 2 FAMILY LOCATED IN NORTH ST LOUIS CITY, SOLD AS IS Showing with accepted contract

Perfect for first-time homebuyers looking to build equity or investors seeking a value add opportunity. Don't miss this opportunity to own a beautiful home at an affordable price! There are additional pictures and video that can be provided with proof of funds. Home being sold as is and needs to be cleaned out.

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.