Circa 1885 very large brick 2 unit building in Hyde Park, Muhlenberg Schools believed to be a former schoolhouse. The building sits on a very large over half acre lot with a large 1 car detached garage, gazebo and long driveway with parking for 12 plus cars. Unit 1 - 1st fl has 5 rooms, living room, kitchen, bath, 2 private BRS, replacement windows, gas cooking, walk-in closet, basement access, 5 year tenant paying $1,175 a month. Owner pays all utilities for this unit. Unit 2 - 2nd & 3rd floors has 6 rooms, living room, 26 handle modern kitchen with Corian countertop, microwave, electric drop-in range, separate oven, refrigerator, marble floor, pantry, 4 BRS, 2 private BRS on the 2nd floor and 2 bedrooms in the 3rd floor, 2 full baths one on each floor. Unit 2 has central air and sky lites. 5 year tenant paying $1,100 a month. Tenant pays for their electric. The owner pays for the heat which is currently oil but is being replaced with a gas boiler. Gross income: 27,300. Total expenses: 12,271. NOI: 15,029. Cap Rate: 6%. Expenses breakdown: Insurance: 708. W/S: 2309. Trash/Rec: 560. Gas: 646. Electric: 1945. Oil: 1077. Taxes: 4926. Permits: 100. The basement is partially finished and appears to have been fully finished in the past and has a washer & dryer that belongs to the unit 2 tenant. Owner replacing oil boiler with a gas one. One gas water heater for both units paid for by owner. Solid stable investment property with very good longterm tenants. Perfect for an investor or an owner occupant. Owner pays for heat, hot water and all utilities for unit one. ALL PEOPLE ENTERING UNIT 2 MUST WEAR A FACE MASK. NO EXCEPTIONS!
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