Excellent cash flow turn-key dwelling 2 unit property for sale by owner. Both units are consistently and currently occupied. The turnover rate is very low due to satisfied tenants that stay happy. This means less headaches for you and more money in your pocket.
The property is located in a calm and quiet section of Steelton. There are also plenty of available of street parking right in front of the property. The address of the property is 332 and 333 South 3rd Street in Steelton, PA 17113.
The property is a 2 unit (front and rear) with a basement covering 1062 square feet. Each unit has one bedroom, a kitchen, a bathroom and living area. Both units have separated electric and gas lines as well. There are also separate water heaters for each unit. Recent renovations include electrical wiring, new roof, and winterized water pipes. The siding and front unit window was renovated in 2009. The property always passes the inspections by both the Borough of Steelton and the Housing Authority.
The neighborhood is very safe for children with good friendly neighbors which attracts families. The property is not located on a main street therefore the traffic is very low which keeps the noise down. The property is in walking distance to Front Street so there is access to convenient stores and public transportation.
The reason I admire this property is because it is a good performer and in a good location. That is why this property stays consistently occupied. The tenants are responsible for their own electric and gas. The expenses for the owner are the mortgage, insurance, water/sewer, and trash. With the low maintenance and consistent occupancy the cash flow each month (55% of the rent) is great and steady. If you do the numbers, this investment makes sense with lots of room for potential growth.
I have owned this property since July 2007 and had a smooth operation throughout. Since owning the property, there have been no major issues, fixtures, or catastrophes (leaking roof, busted water pipes, or mold). I also rarely receive any calls from the tenants due to the tip top shape of the property. I would not be selling this chief asset if I were not looking into relocating. I believe it can be a success for anyone!