1083 Main St, Hellertown, PA 18055

Description

Back on the market due to fault of its own! 4 Unit FULLY occupied investment property now available in the desirable Borough of Hellertown. This unique building has been proudly owned by the same family since its construction as 2 twins in 1908, before being converted to apartments in the early 1960s. The current owner (and former resident) has lovingly cared for the property for over 40 years, ensuring it remains a solid, reliable asset for the next investor. The building features 2 one-bedroom and 2 two-bedroom apartments each with its own separate entrance and 2 dedicated off-street parking spaces. Landlord overhead is low, as the property features separate utility meters with tenants responsible for paying their own electric, gas, water, and sewer bills. Upside potential exists within the current rent roll and operating expenses. Current gross monthly income is nearly $5,000 and the cap rate at list price is 6.75% with 8%+ easily attainable given some updates and market rents. Each unit has been inspected by the Borough so no rental inspections are due until 2031. Call today to view this property and add it to your portfolio!