Description
Value-add Mixed-Use Quadplex in West Chester Borough situated on a prominent corner lot at Hannum Ave and West Chestnut St consisting of three (3) Apartments and one (1) Retail/Commercial Space (Laundromat). 100% Occupancy -- all 4 units are fully leased, so this is a turnkey asset {3 tenants on annual leases and 1 on a MTM lease). Utilities - separate metered (natural gas/electric). Rents are substantially under market -- major rental upside exists with minor capital enhancements. It's pedestrian-friendly and located near the heart of the Borough with easy walkable access to all the Downtown amenities. The Property consists of two (2) 2BD units and one (1) 1BD unit and one (1) retail/commercial space -- the laundromat has been a 20-Yr tenant. Ample on-street parking for tenants. Inquire about financials (pro forma, rent roll, etc). All units in sound shape, Borough inspection completed last month (Nov 2022). Roof replaced approx 10 years ago and Hot Water Heaters were all replaced in the last 5-7 years. Revenue Opportunity: New Ownership can enact value-add capital enhancements to achieve top-of-market rental rates. Showing Begin on: Wednesday, Dec 14th (please schedule at least 48 hrs in advance).
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0BEDS
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0.03ACRES
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0BATHS
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01/2 BATHS
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4,399SQFT
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$153$/SQFT
Description
Value-add Mixed-Use Quadplex in West Chester Borough situated on a prominent corner lot at Hannum Ave and West Chestnut St consisting of three (3) Apartments and one (1) Retail/Commercial Space (Laundromat). 100% Occupancy -- all 4 units are fully leased, so this is a turnkey asset {3 tenants on annual leases and 1 on a MTM lease). Utilities - separate metered (natural gas/electric). Rents are substantially under market -- major rental upside exists with minor capital enhancements. It's pedestrian-friendly and located near the heart of the Borough with easy walkable access to all the Downtown amenities. The Property consists of two (2) 2BD units and one (1) 1BD unit and one (1) retail/commercial space -- the laundromat has been a 20-Yr tenant. Ample on-street parking for tenants. Inquire about financials (pro forma, rent roll, etc). All units in sound shape, Borough inspection completed last month (Nov 2022). Roof replaced approx 10 years ago and Hot Water Heaters were all replaced in the last 5-7 years. Revenue Opportunity: New Ownership can enact value-add capital enhancements to achieve top-of-market rental rates. Showing Begin on: Wednesday, Dec 14th (please schedule at least 48 hrs in advance).
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