3444 PENN AVE Sinking Spring, PA 19608

Wilson Schools mixed use semi-detached multi-unit building on a prime very busy Penn Ave location in Sinking Spring with a detached 2 story 2 car garage and parking lot for 8 cars with separate gas heat, hot water and electric for the 2 units in the building. The garage & common area electric are on the unit one's meter. Unit 1 consists of the commercial space currently being used as an owner occupied beauty salon with a large open space, powder room, kitchenette with storage, basement access, access to the exterior rear deck, side yard and parking lot. This unit has gas heat with central air, gas hot water, 100 AMP electric, basement storage. The salon unit is in excellent condition and projected rent is $1,500.00. Unit 2 is the residential apartment, 2nd & 3rd floors consisting of 5 rooms, 3 BRS, living room, kitchen & bath. This unit pays for its gas heat, hot water & electric. This unit needs some TLC and updating. Projected market rent is $1,500.00. Unit 3 is the 2 story, 2 car detached garage with electric that is currently rented for $125 a month but should be at $250 a month. There is paved parking for 8 cars and a side yard that could provide more parking or an outdoor recreational area. Projected income & expenses due to the salon being owner occupied and unit 2 being a 20 year tenant that is not paying anywhere close to market rent. Projected income: 39K. Breakdown: Unit 1: $1,500.00. Unit 2: $1,500.00. Unit 3: Garage: $250.00. Expenses: $8,203.00. Breakdown: Insurance: 1,611. Water: 729.08. Sewer: 838.67. Electric: 1,352.58. Gas: 772.43. Trash: $495.00. Taxes: $3,054.00. NOI: $30,797. Projected Cap Rate: 14%. This is a fantastic investment opportunity for a business owner occupant or an investor. Please see the items remaining for a more detailed list of what's staying on the salon and apartment.