Property Description:
This duplex has everything an investor is looking for: reliable cash flow (total rent: $3120 per moth), low maintenance, and significant financial upside (online values of house between $420K-$460K). The main unit (lease expires in August 2022) of the house is a beautifully remodeled 2 bedroom house with a finished basement that serves as an unofficial 3rd bedroom/extra living room. Some of the best features of the main unit include an awesome front sun room, a cute backyard, and an awesome kitchen with top of the line appliances. The second unit is a studio apartment (month-to-month lease) that has never been vacant. This unit rents easy because it is a very spacious studio including a full kitchen and large full bathroom. Best of all, you cannot beat the location of this house. 10-min walk to the Collingswood PATCO, 15-min walk to all the shops and restaurants on Haddon Ave in Collingswood, located in the Haddon Township School District. We purchased this property to help build our portfolio, we lived in half and rented the other half. After we moved on we used a property manager and the house has been fully leased for years resulting in significant positive cash flow. We tragically lost our property manager about a year ago and simply don't want to self-manage the property. This is a great oppportunity for any investor, but is particularly well suited to a new investor as it is a straight-forward property that will cash flow from day 1.