Property Description

263 South St contains five townhouse units, comprised of one (1) 3-Bedroom/2-Bathroom unit, one (1) 3-Bedroom/1-Bathroom unit, and three (3) 2-Bedroom/1-Bathroom units with 6,582 square feet of gross living area in 9,615 square feet of gross area. The Property is currently situated on 4.07 acres. Parking is readily available with nine (9) garage spaces, as well as ample surface parking spaces. With its bucolic nature surrounded by 25 acres of Conservation land and excellent tenant history, 263 South Street is truly a unique, one-of-a-kind investment property. 263 South Street features an attractive mix of spacious townhouse-style residences designed to appeal to today's renters. Units 1??4 offer desirable three-level layouts consisting of a full basement, main living level, and second floor, with sliding door access to a large, shared backyard with lush grounds. Unit 5 is a well-appointed single-level apartment situated above the Property's garage bays. Each residence is equipped with in-unit laundry, providing added convenience for tenants. Interior finishes include Formica countertops in Units 1, 2, 3, and 5, while Unit 4 features granite countertops. All apartments are separately metered, with tenants responsible for heat, hot water, central air conditioning, and electric service. 263 South Street presents the incoming investor ample opportunity toincrease the rental rates by programmatically renovating the remaining four units. In addition, the property is improved by a detached, two-story structure which features a Six-car garage parking as well as finished space above the garage. The potential exists to create an additional apartment at the site. Units 3 & 5 have received new heat pump systems over the last 2 years while all units have received new A/C systems over the last 10 years. Numerous appliances and water heaters have been replaced since current ownership took over, as well as an upgraded leeching field over the last 2 years. The opportunity exists for new ownership to separate out water utilities and put this onto tenants, as there are currently 5 water meters.

Property Features