$649,900

Excellent investment opportunity offering strong existing income with additional value-add potential! This property currently features two spacious residential units, both offering generous living space and additional loft areas. The entire first floor provides a large third storage unit spanning the footprint of the building, creating substantial additional space and future possibilities. The potential for creating additional residential units has been discussed with the Borough; any conversion or additional units would be subject to Borough approval, zoning, permitting, and applicable requirements. Current residential rental income totals $4,600/month or $55,200 annually. With reported annual expenses of approximately $9,382, the property generates an estimated NOI of $45,818. At the $649,900 list price, this represents an estimated 7.05% cap rate based on the provided income and expenses. A unique opportunity for an investor seeking immediate rental income with additional space and potential for future expansion. Seller also has listed from their portfolio: MLS #784835 and MLS #784812