230 Holmes Rd Holmes Delaware PA 19043

Investment Opportunity in Holmes, PA

For Sale $465,000.00
For Lease $1,500.00/Month Net Lease

For sale is a well maintained three-unit property that can used as an investment or owner-occupied.  The property consists of two buildings; the first building is a single-story structure located in the front of the property that consists of a storefront (can be converted into a large apartment) and the second building is a two-story structure located in the rear of the property that consists of two apartments, one on each floor.  The apartments are fully leased and the storefront is vacant. The storefront dimensions are 25′ wide by 55′ deep.  Each apartment has one dedicated parking space located behind the first building and the storefront shares the use of the parking lot with 234 Holmes Ave (the property next door).  230 Holmes Ave (Subject property) owns the driveway while 234 Holmes Ave (neighboring property) owns the parking lot.  The deeds to both properties state that 234 Holmes Ave has a right to use the driveway on the 230 Holmes Ave property to access the parking lot and that 230 Holmes Ave has a right to share the use of the parking lot located on the 234 Holmes Ave property.  There are 8 spaces in the parking lot and it is currently being used on a first come, first serve basis.  Rental income for the first-floor apartment is $740/month and rent for the second-floor apartment is $750/month.  Insurance is $2,265/year, taxes for 2021 are $4,726/year, and water is $720/year.  Projected rent for the storefront if it is leased is $1,500/month modified gross.

Property Features
  • Medical/Consulting, Retail, Apartments, Office, Commercial
  • Satelite
  • Street
  • Transit