100 CHESTER

Purchase Price suggested based on income but is negotiable. Though Property is zoned Triplex probable best use is a duplex. Owner will offer a second of up to 30K at 3% on a 10 year term. It is believed if you change to a duplex on record you will not be able to change back if you choose to change to triplex. As present mix use duplex may qualify for better financing check with a mortgage professional. It could be a Triplex i.e. a Store and 2 smaller apartments or to a duplex. All info is deemed accurate but as you know if you have a question you consult Code enforcement. The store is on a 10 year graduated lease r with an end of lease extension option. As an Income producing property and 1 large Apartment it has greater stability of income then as a store and 5 independently rented Rooms. Rooms for rent do not provide the stability or permitted. Apartments in this area in demand due to proximity of schools and major employment areas on industrual highway. 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. A single large unit could be created by refurbishing and expanding the Kitchen Area. It could be completed by creating a Living Room/ Kitchen combo area. There is a 1 Pc Bath on the 1st floor needs remodeling and design. Space there to do it. The second floor has 4 Rooms and full bath rooms of varying sizes and could be 1 room as work area and 3 Bedrooms or rooms could be designated as new owner desires. There is a full bath on second floor. Probably with some creativity and expense could be 3 units. As a triplex i I could see Rooms marked 2&3 and Rooms 4&5 be 2 separate units offered in combination with shared use of Kitchen and 2nd Floor Bath. Room 1 a room on 1st floor could be living area granted on an alternate weekly basis. Created 3 Bedroom Unit making property a duplex could rent for about $1500 per month and maybe another $35 per month for laundry area created on 1st floor. Roughly as a triplex in place $1254 for store & possibly $850 each for other 2 units and $70 for laundry use. $3024 per month. 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. The other half of Basement is accessible from Room 1 on 1st floor. Stability of income is focus. 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 can be 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.