Tightly tucked on Barclay street is an investment opportunity not to be missed! For the first time in 37 years, "The Old Cologne Mill", a SIX unit multi family stone building dating back to 1847 is now available for purchase. The property consists of four 1 bedroom units and two 2 bedroom units. Some of the apartments could use updating while others have newer kitchens and bathrooms. All of the units are currently being rented significantly under market value. If brought up to market value this property easily converts into a 9/10 CAP. Part of the property sits on half an acre of vacant land which could potentially be developed into a single or multi family dwelling pending township approvals. (It does fall within the permitted zoning allowances & buyer would be responsible for all due diligence). An oversized parking lot makes the rental building even more desirable as does its close proximity to the heart of downtown Newtown. This type of multi family property rarely comes to market in our area; it is certainly one worth taking a closer look at.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
