2211 Milford Square Pike, Quakertown, PA 18951

Property Description

Great opportunity for an investor or owner-occupant! This well-maintained two-unit property offers immediate income potential along with the flexibility to live in one unit and have the other help offset your mortgage! The upstairs 2-bedroom, 2 full bath unit is currently vacant and ready for an owner-occupant or new tenant, while the first-floor 2- bedroom, 1-bath unit is currently occupied by a long-term tenant paying $1,000/month, providing an excellent opportunity to increase rental income to current market levels. The first-floor unit is believed to be capable of approximately $1,500/month in market rent, creating significant upside for the next owner. The property was extensively renovated in 2017, including a new roof, new windows, and a complete renovation of the second-floor unit. The second floor has laundry connection, while you can easily connect laundry for the 1 st floor unit by creating a laundry room area in the spacious foyer that connects just off the living room of the 1 st floor. Tenants are responsible for heat, electric, while the owner pays trash, water and sewer. The first-floor unit features a covered rear porch entrance, hardwood floors, a farmhouse-style kitchen, spacious living and dining areas, two bedrooms with ample closet space, and a full bath. The upstairs unit offers hardwood flooring, an updated kitchen and two bedrooms and full bathrooms; one on the 2 nd floor and another on the 3 rd floor. With an estimated current market rents of approximately $3,600/month in potential gross rental income, this property offers attractive cash-flow potential and a projected cap rate of nearly 8% based on the current investment assumptions. The dedicated parking lot adds convenience for both units. Appropriately located near the PA Turnpike, St. Luke's Hospital, Routes 663, 309 and 313. Whether you're looking to build your rental portfolio or occupy one unit while generating rental income from the other, this property offers an excellent combination of location, flexibility and upside potential! Please do not disturb the tenant or access the property without a confirmed appointment. *This property is also currently listed as a multi-family.*