$399,000

Exceptional value-add investment opportunity in Middletown! This mixed-use property offers two existing residential apartments and a spacious ground-floor retail space with the potential to convert into two additional, larger residential units, creating a four-family investment property. The upper level features two one-bedroom, one-bathroom apartments, each equipped with washer/dryer hookups and electric water heaters. Additional property highlights include oil heating, solar panels serving all units, a newer roof, and ample off-street parking with convenient front, side, and rear driveway access. All existing appliances are included, excluding washers and dryers. The expansive ground-floor retail space presents an excellent opportunity for investors or developers looking to maximize rental income and build equity through conversion. The City of Middletown has provided preliminary verbal feedback indicating that a four-unit residential conversion may be possible, subject to formal application, required approvals, permits, and inspections. Other four-unit residential properties in the surrounding area further demonstrate the neighborhood's multifamily character.