House hackers and Investors! Check out this prime investment opportunity for a well kept West Chester borough quadplex! Student housing permits and off street parking in the heart of town. 2 of the 4 units units are authorized for student rentals and can be rented to either students or non-students. All units are rented and performing excellently. Building has not had any vacancy except for short periods of renovations between tenants. All units have been well kept by the current owner. Unit 1 is a student authorized 1 bedroom/1 bathroom currently rented for $1,425. New lease signed for $1,450 starting in June. Unit 2 is student authorized 2 bedroom/1 bathroom rented for $1,950 with a new lease signed for $2,100 starting May. 2 off street parking spots are assigned to this unit. This spacious unit spans 2 stories and has in unit laundry. Unit A is rented for $1,300 to long time tenants. It is a similar floor plan to Unit B which rents for $1,700. Tall ceilings, big bedroom, 1 off street parking spot, and in-unit laundry. Unit B is rented for $1,700 and has not had a rent increase in 2 years. Newly renovated, tall ceilings, big bedroom, 1 off street parking spot and in-unit laundry. Unit 2, Unit A, and Unit B have individual central heating/cooling. Unit 1 has built in wall a/c units and baseboard electric heat. All units have individual meters for electric and gas. Landlord pays water but all leases have a clause to ratio bill any water bills above $150. Water/sewer usage for 2023 averaged $235/mo. Common area gas and electric charges were only $650 for 2023. West Chester Borough covers trash. Landlord opts to pay for private trash service. 2023 trash pick up was $584. Don't miss the stellar investment in the heart of West Chester borough.
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Listing information last updated on May 11th, 2024 at 9:03am CDT.