100 Chester, Darby, PA 19023

Property Description

BOM. Property back on Market. Zoned Triplex probable best use with limited expense is duplex. Buying this property no cash not an option. Owner willing to offer a 30K second at a giveaway rate. Not willing to hold entire mortgage. Financing should be available as Zoning Mixed Use. Change to a conforming triplex challenging by design. Presently mix use duplex may qualify for better financing rates. Check around. It could be a Triplex i.e. a Store and 2 smaller apartments . Info is deemed accurate but if you have a question consult Code enforcement. Store is on a 10 year graduated lease with an extension option. A Mixed Use Duplex offers more stability of income because lower vacancy rate, reconditioming expense and the shortage of 3 - 4 Bedroom Apartments in this area. Maybe accept HCV program applicants tie in long term. Check this fact out. My phone is ringing off the hook with Apartment applicants. Why? Proximity to every major hub possible. The 1st Floor store is on a multi year lease with a table of yearly rent escalations. Property rental permits up to date for a 3 Unit Building not renewed 2023 because intentionally vacant. Create a single large unit 2. Combine 1st flr entry LR with Kitchen area (Open Concept) by combining and updating this combined area. Remove 1 Pc Bath replace with laundry area. Space there to do it. The second floor has 4 Rooms and full bath. Rooms vary in size and could privide versatility . There is a full bath on second floor (needs work). Best use may be create 3-4 Bedroom Unit making property use a duplex and could rent for about $1575 per month including laundry privileges. As a duplex in a proposed design you would have a combo LR/Kitchen/Dining Room Arrea on 1st floor and upstairs you could have a work area plus 3 additional Bedrooms 2 of which are extra size bedrooms and 1 smaller bedroom. and a 4 pc bathroom. Store occupies 1st floor. The storefront is equal to 12+ Foot . Property is free standing. Offstreet Parking. Store is occupied with lease ending 10/31/2031. The lease has an escalation provision starting 10/1/2022 at $1254.00 and rising to as much as $1783.31 in final year of contract term. It also contains a 5 year option. Included in the store's rent is half basement for supplies, etc. Unit 1 has half of Basement and is accessible from proposed living Room one 81st floor. Stability of income is focus and as duplex/store income about $2829 per month. Tax Records In Delaware County Public Access shows '"LIVING AREA" as 3040 Square foot Between Basement and 2 above grade floors. Property is vacant to allow new owner selection. The property price has been reduced to consider costs of upgrade and renovations final price agreed will be based on property sold "as is" with U&O paid for and obtained by new buyer. Its repeated U&O (AKA Conditional Resale Certificate) and U&O required Repairs are to be paid by Buyer All measurements indicated are approximate. This is Go and Show. Use Type In Delaware County Public Access shows: 086-Support Area.. Improvement Name is : Chester Pike Mini Market. In close there has been significant inquiries for apartments. This change in strategy of sale is to make the income approach more stable. This has potential of very good cash flow. The building as you can see in previous mls listings is Brick and siding. Store owner did the lower level paint job to gain attention.