347 Chestnut Street

Welcome to 347 Chestnut St, a distinctive Victorian property originally built in 1850 as a single-family residence and designed in the elegant Second Empire architectural style. Today, this historic beauty operates as a three-unit income-producing property, offering a blend of historic character, recent improvements, and value-add potential. Well cared for by its previous owner over the past six years, the property has seen significant updates, including full renovations of two of the three units featuring updated kitchens, bathrooms, tile flooring, carpeting, and fresh paint. Additional improvements include replacement of two of the three roofs, all three hot water heaters, select plumbing upgrades converting older pipes to PEX, and multiple electrical upgrades. These electrical improvements include an additional panel for common areas and new circuits to support building updates and everyday electrical needs. All three units are currently occupied, generating $3,250 in monthly rental income, with two longstanding tenants and renewed leases. With rents below market value, the property presents an opportunity for investors to increase cash flow over time while benefiting from an established rental history. Unit #1 also offers potential for a two-bedroom conversion, subject to verification of feasibility and applicable requirements. Unit #1 First Floor | $900/month A one-bedroom unit featuring a large eat-in kitchen, full bathroom, living room, and an additional walk-through room with potential for conversion to a second bedroom. Currently occupied by a longstanding tenant. Unit #2 Second Floor, Rear | $1,000/month A one-bedroom unit featuring a living area, kitchen, and full bathroom. Currently occupied by a new tenant. Unit #3 Second and Third Floors, Front | $1,350/month A spacious three-bedroom unit spanning two levels, with a kitchen, full bathroom, and living room on the main level and three bedrooms on the upper level. Currently occupied by a longstanding tenant. Whether you're looking to expand your investment portfolio, capitalize on below-market rents, or unlock additional value through future improvements, 347 Chestnut St offers a compelling opportunity to own a piece of architectural history with established rental income and room for growth.