Good cash flow. This is a beautiful stone building with 2 first floor commercial spaces and 4 very nice apartments above. Both commercial spaces are rented (one long term with built in rent increases to a national tenant). There is plenty of onsite parking and good visibility. The apartments are very desirable with central air, washers, dryers, dishwashers, fireplaces and separate heat and electric. It is conveniently located on Rt 3 (bus stop right out front). Separate utilities and heat pumps for each. They have always been very easy to rent. Clean as a whistle. At least 24 hrs notice to show. Rents are under market and allow room for improved cash flow.
Exceptional turn-key residential 3 unit fully renovated in the summer of 2013 from top to bottom! Benefits include on-site parking, backyard area, and town center zoning. All new electric and plumbing. Highlights of each apartment include new high-efficiency HVAC units with central air, washer/dryers, and granite kitchens. Building is fully sprinklered, with new windows, doors, roof and insulation. Enjoy low maintenance for years to come. A solid long-term multi-unit investment property in developing area of town. A 6.5% cap rate for this like-new condition and quality of building is rare for the popular and historic Borough of West Chester. With rents increasing this summer, cap rate will increase to almost 7%. This top of the line product attracts top of the line tenants and achieves outstanding bottom line returns.
Sun filled, lovely, two unit building in the heart of historic West Chester. This building has been completely updated using fine materials such as hardwood floors, marble, tile, quality cabinetry and dry wall. Each unit has central air, its own washer/dryer, updated appliances and a private entrance, as well as individual utilities. 1st Floor - 1 bedroom/1 bath, living room and eat-in kitchen. Currently rents for $1000 per month. 2nd and 3rd Floor: 3 bedroom/2 bath, living room, eat-in kitchen, study or another bedroom. This unit has it's own private garden and one off street parking space. Currently rented for $1800 per month. Full basement. Could be an owner occupied property. This is NOT a student rental.
Location, Location, Location! Beautifully updated 2-unit SINGLE DETACHED property, GREAT location in walking distance to all West Chester has to offer. Each unit has a comfortable living room space, an updated kitchen with dark cherry cabinets and granite countertops, 2 nice sized bedrooms, and each unit also has one updated bathroom. The main level unit has an additional room that could be used as a dining area, office, sun room, or what ever you choose, with french doors out onto a paver patio! There is a shared entrance, shared laundry on the second floor (potential for additional income), shared driveway parking (along with permit parking on the street), shared back deck and yard. This property also features a 'bonus room' with private entrance. It is currently being used a shared storage space but is plumbed - check with township for options to convert into a possible efficiency studio. This room features a beautiful brick fireplace. Just a short distance from the happenings in downtown West Chester, but right across the street from the University. This property is not zoned for student rentals.
LOCATION CANNOT BE BEATEN - 1 block off S. High St & 1 block off Market St makes this the perfect central location for all things West Chester! Any one who knows West Chester knows that off-street parking is key - well here you have 2 back-to-back spots located off street on the left side of the building under the deck. Each unit has it's own entrance & address (11 & 13 E. Miner St). #11: Enters from the side & is a first floor unit: 1 BR w/ built-ins, Kitchen, Living Room, Bathroom, Sun Porch & access to the Basement. #13: Entry is on Miner St. and comprises the second & third floors: 2 Bedrooms (1st on 2nd floor, 2nd on 3rd floor), Bathroom, Living Room, 6 window Sun Porch & Kitchen w/ washer/drier unit & access to the Deck. #11 has new bedroom windows (2013) & a new stove. #13 has a new shower (2011) & window (2011) in bath, new screen/storm door (2011). The building had a new back roof put on in 2011 and a new plumbing line was installed in 2006. Current owner has not done student rentals; has always been able to get and maintain good tenants and has not had a vacancy during 9 years of ownership! Owner pays $72.00/month for gas on PECO budget plan for heat and stoves. Tenants pay for all electric bills (hot water heaters: one for each unit are electric). Between the location, off-street parking, great tenants in place and all the improvements make this the best turn key investment opportunity on the market in West Chester today.