OFFER RECEIVED! Offer deadline is Thurs. 2/1/24 at midnight. Introducing a prime investment opportunity in the heart of desirable Derry Township School District! This 3 unit property features a front house with a 1st flr apt w/1 BR, 1 BA (could be 2 BR if you add a wall), and a 2nd flr apt with 1 BR, 1 BA. These 2 units are in good condition w/vinyl plank floors and some carpet. The basement is unfinished. The 3rd unit is a 2-story bungalow in the rear with 1 BR, 1 BA. Currently occupied by a long-term tenant, this unit presents an excellent opportunity for renovation and increased rental income once vacant. There is also a 2-car garage that is rented separately for $150/month. New roof on Bungalow and garages in 2020. All units are currently leased on a month-to-month basis, providing flexibility for new ownership. While the second-floor apartment is scheduled for vacancy at the end of March, the remaining units are fully occupied, generating consistent rental income. The owner currently covers water, sewer, and trash expenses; however, separate water meters are in place, allowing for the possibility of billing tenants individually for these utilities, thereby increasing profitability.
With rents currently below market value, there exists a significant opportunity for increased revenue by adjusting rental rates to align with the local market. 24 hour notice required for all showings.