TRULY A RARE FIND! This beautifully renovated two-story townhome is being sold as a package WITH the commercial unit below it! You can break down the price as you wish an even split would mean that you re only paying about $650,000 each for a commercial unit AND a townhome, which is a fantastic price!! The townhome alone is an incredible value, AND you get an income producing commercial unit with the purchase! The property offers an ideal Park-n-Walk location in the heart of Avalon, and there s only two streets to cross on the way to amazing beaches! The spacious townhome features nearly 1,700 square feet of living area with 3 bedrooms, 2 bathrooms and two private decks! The Commercial unit also features a renovated interior, which is close to 1,000 square feet and includes front & rear entrances and a Powder Room. The Commercial unit is perfect for a business office or retail. No cooking is permitted on the premises. The property offers a large parking area in the rear, which will soon be repaved with a new fence installed. The income potential from this property is substantial, and having two units gives you ultimate flexibility. There are many options here! Projected rental income from the Commercial unit is $26,000 year and the townhome rented for $44,000 during the 2024 season. If your primary focus is personal enjoyment, then you can spend more time enjoying your property here on the 7 Mile Island, and less time renting, all the while letting the Commercial unit s rent pay about two years worth of your Annual RE Tax & Condo Dues! Another way to view this is that the Commercial unit s rental income offsets the payments on about $370,000 of your mortgage! If you re purchasing using 75% financing, that s about one-third of your loan amount paid for by the Commercial Unit s rental income! FOR THE INVESTMENT MINDED, the projected $70,000 (+ -) in rent offsets the majority of your mortgage payment! Townhome is owner occupied, EZ to show.
Listing Courtesy of FERGUSON-DECHERT, INC.
