An investors dream! Unfinished first floor is zoned commercial and residential. Turn it in to a 2 bedroom apartment with a commercial space while living upstairs. If you're working from home, this property offers the perfect solution to have a fully operational business. This property is within walking distance of Downtown Oil City, along the scenic Allegheny River and bike trail that connects Allegheny County to Erie County. The back yard is perfect for summer bonfires and cookouts. The foundation is solid ( a rarity in Western Pennsylvania). With multiple entrances, this property is perfectly constructed for a multi-family income property. With a brand new electric box, romex wiring, electric water heater, and Pex plumbing, this property is awaiting your finishing touches. Repairs needed: Sheetrock in several areas upstairs Kitchen cabinents and sink installed upstairs (Cabinents and sink are downstairs awaiting a proper refinishing) 3 windows replaced upstairs A small patch for the roof (quoted at $500) The market value once finished would be upwards of $80,000. Fully rented, the annual rental income (based on fair market rental prices) is $28,728. Recoup your renovation costs within 12 months! The market rate for a 3 bedroom home is $1,102. The market rate for a 2 bedroom is $892. The business space can be rented for additional income.
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.
