Remarks

Income producing property 6 units (5, 1-bedroom units, one studio) and 6 separately rented individual garages. Net operating income of 70K (full financials available to qualified buyers). The property is fully rented with high quality tenants - note that listing photos are from before tenants moved in. Current owners have rehabbed and updated the property for efficient management - making it easy for a new owner to step in and take over. Owners are selling their whole portfolio for a career change.

Updates and repositioning done by the current owners:
- Put in all new sidewalks and curbs on all 3 streets and new entry apron by the garages
- Repainted the entire house and repaired the soffit and trim
- Renovated apartments 5 and 6 - separated electric and installed mini splits (heat/ac) and new kitchens with granite counters
- Installed a laundry room with coin operated machines and electronic keypad entry
- Put in a trash pad and communal dumpster
- Removed and stumped dead trees
- All units have separate gas/electric
- Tenants pay for water, sewer and trash
- Moved all tenants to online payments
- Increased the rents to market rate
- High quality tenants - must have 650+ credit score and make 3x the rent in verifiable income.
- No pets in building
- No smoking in building
- Annual rent increases are built into all current leases

Other qualities of the property:
- Main house entry is by electronic key fob only.
- There is a camera surveillance system installed

Details

MLS#: PACT2065166
Price: $950,000

Year Built: 1880

County: CHESTER
Tax Fee: 8615.0