250 S STATE ST, Newtown, Pennsylvania
250 S STATE ST, Newtown, Pennsylvania 18940 - A once in a lifetime investment opportunity located in the heart of Newtown Boro: 250 S. State St is a five unit brick apartment building with a detached 2 car garage, and it sits on .29 Ac of prime real estate. Located a few buildings down from Phase 1 of the STEEPLE VIEW development underway NOW in Newtown Boro. Each unit consists of 1 bedroom, 1 full bath, spacious floor plan, original hardwoods, 10 ft ceiling heights, original bathrooms but neutral in color palate, eat in kitchens, and plaster walls. The units run front to back of the building. The first floor units have an added feature of a three season sun room- located in the back, interior and exterior access. Each floor houses 2 units with exception of the penthouse- located on the third floor. The Grand foyer area, and solid mahogany stair case lead you to the second and third floor units. The Basement is unfinished, it is approx 1200 sq ft. and serves as a tenant storage area, utility area housing the oil tanks, electrical meters and sink area. Worth noting is the prior owner put in new windows throughout the 5 unit building. The detached 2 car garage, holds multi cars as well as storage, and has a second floor(possible 6 unit) The new owners have both a rental upside and a future market value as well. The current rental rates are likely under valued, and the new owners will want to divide the heat cost to the tenants. This is not a property that has seen updates in the last few years, a bit of elbow grease will bring this building back to it's original glory. The possibilities are endless with the purchase of 250 S. State Street. Come tour this Grand Building, and be part of the amazing development happening in Newtown Borough. The home next door has all of it's permits and architectural plans in place. It has been approved for a single residence. Construction to begin by 7/1/2017.
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Listing Courtesy of CB Hearthside-Regional Sales Center