503 W Main St, Mechanicsburg, PA 17055

Property Description

INVESTMENT OPPORTUNITY IN THE HEART OF MECHANICSBURG! Welcome to 503 W Main Street, a well-positioned three-unit investment property offering an attractive combination of established rental income, desirable apartment layouts, and a convenient location walkable to downtown Mechanicsburg. Situated on one of the appealing blocks of West Main Street, this property places tenants close to restaurants, shopping, schools, major highways, and all that the Mechanicsburg community has to offer. The property features three separate rental units, each with its own character and appeal, and all are occupied by long-term tenants with yearly leases. The first-floor 2-bedroom apartment offers approximately 1,000 square feet of comfortable living space and features hardwood flooring, high ceilings, ceiling fans, and mostly newer windows. The kitchen and bathroom were remodeled in 2016, and the unit includes a microwave, electric oven, dishwasher, and washer and dryer. Tenants also enjoy off-street parking, a covered side porch, and a rear deck featuring low-maintenance Trex decking. The efficiency apartment was fully remodeled in 2017 and offers a bright, inviting interior with shaker-style white cabinetry, ceiling fans, and a covered side balcony with Trex decking. An attic access area provides additional storage. The 1-bedroom apartment offers a practical layout with a quaint kitchen, spacious living/dining combination, a storage closet, and a separate bedroom. Its efficient design provides an appealing rental option for tenants seeking a more affordable place to call home. From an investment standpoint, the property offers three established rental streams with long-term tenants and annual leases already in place. Current monthly rents are $1,130 for the 2-bedroom, $815 for the 1-bedroom, and $815 for the efficiency, for a total of $2,760 per month, or $33,120 annually in scheduled rental income. Even better, tenants are responsible for their own heat, hot water, and electricity, while the owner pays water, sewer, and trash. Whether you are expanding an existing portfolio or looking for your first multifamily investment, 503 W Main Street offers the opportunity to own a three-unit property in an established Mechanicsburg neighborhood with strong rental appeal. With renovated units, desirable features, long-term tenants, outdoor spaces, and a location close to downtown and major transportation routes, this property is ready to continue its role as a solid income-producing investment.