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Buy a 1905 Rooming House in Pico-Union For $2 Million

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Attention intrepid gentrifiers: here's a very lovely old rooming house built in 1905 (and "once occupied by C. E. Crowley, a railroad and grading contractor for Pacific Electric Railway"). The boarding house setup isn't terribly popular these days, but you could make yourself quite a mansion out of this place (which sits in the Pico-Union historic preservation overlay zone)--per the listing, the house has "18 studio units, beautifully appointed public areas, 7 shower rooms, 4 half baths, huge basement, 3rd floor attic with an amazing floor plan, enchanting grounds with fruit trees & flower gardens, a side patio area, a 11 car parking lot, a 1-car garage, and a free standing charming 3-unit building at the rear of the grounds." Right now, the property is 70 percent vacant. Asking price is $2 million.
· 1150 LAKE Street [Rodeo Realty]