Note: There are no interior pictures due to transit clutter only. Each unit is in average to good condition and rent ready! Welcome to this great opportunity to own 2 prime rental buildings in the heart of sunny downtown lansdale. These properties are situated with immediate access to public transportation including train access to Doylestown, Phila (and the Phila Airport), NYC, Washington and the world!
148 and 150 E Main St are 2 adjacent twins that can be bought separately or as a package. Both 148 and 150 are on 2 separate deeds.
148 E Main: This side of this great opportunity boasts 3 units. Two of which are in the main structure and the third being a separate unit behind the main structure. All 3 units have differing degrees of updates. They are all functional and in live-in ready/rentable condition. Unit 1 (ground floor) is a 1 bedroom with a front and rear entrance and access to the basement. It has a 4-5 year old gas furnace and central air. Tenant pays the gas and electric. The landlord pays the water. Unit 2 (second floor) is a 1 bedroom with a finished attic with 2 additional rooms (for safety reasons, the township does not allow for these rooms to be rented as a bedroom). It has electric baseboard heat and no central air. The owner pays the water and the tenant pays the electric. Unit 3 is a separately functioning 2 story, 1-2 bedroom rental, detached from the main structure but attached to a storage room (which is on the 150 E Main St side). This storage room (Behind the main structure of 150) was a functioning garage and now has smaller doors (too small for a car) with access from the alley and backyard. Unit 3 (of the 148 property) has oil heat, Electric hot water, no central air and no basement. It also has a functioning wood burning fireplace and it has its own separate water meter. Both units 1 and 3 are occupied by tenants that have been living in these units for over 15 years (these rents are approximately $725/mo (extremely low and way below market value).
150 E Main: This is a fully rented 2 unit with tenants that have resided there for over 15 years. Both units are occupied as 1 bedroom apartments and rents are approximately $725/mo (well below market value). Unit 1 is on the ground floor. It is heated by a new gas furnace and no central air. It has front and rear access. Unit 2 is on the second floor. It has electric heat and attic access. The owner pays for water for both units 1 and 2. The tenants in both 148 and 150 Main Sts are month to month and pay their rents on time. All tenants wish to remain. Both properties have varying degrees of new roof repairs and newer roofs. Any water stains on ceilings were prior to roof repairs and roof replacements. Wether you purchase 148 or 150 E Main St or both, this offering presents you with great returns in a prime/easily rentable location. Please remember that when touring these great properties, all units-except for the second floor of 148 E Main are occupied. All tenants are would prefer to stay and are expecting rent increases. Schedule your tours today!