1083 Main Street

A rare opportunity awaits in the highly desirable Borough of Hellertown with this fully occupied, 4-unit investment property. Meticulously maintained, 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 has lovingly cared for the property for over 40 years, ensuring it remains a solid, reliable asset for the next investor. The building features an attractive mix of 2 one-bedroom and 2 two-bedroom apartments. Each apartment provides privacy and convenience 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. While some units have been recently refreshed, a couple of the apartments are in good condition but do need some updating, offering the perfect cosmetic value-add project for a new owner. Combined with bringing the currently below-market leases up to prevailing market rates after minor updates, an 8% or higher cap rate is easily attainable. As an added bonus, the building recently passed its municipal inspections, meaning no Borough rental inspections are required for nearly five years. Call today to schedule a private viewing and add this exceptional property to your real estate portfolio!