201 CENTRAL AVE, Cheltenham, PA, 19012

This is the chance for you to own the commercial investment property of your dreams in lovely Cheltenham Village! This versatile five-unit Mixed-Use Commercial/Residential property offers multiple opportunities for excellent income generation and/or live and work possibilities. Two of the five units (one commercial, one residential) are actively leased, and the other three are currently used by the owner as a studio, shop, and office. The first-floor front commercial space is leased as a hair salon by a long-standing business, and the upstairs two-bedroom apartment is also tenant occupied. The front commercial space with a restroom is open and bright. Completing the first floor is a separate studio/office space with high ceilings, natural light and a full bath and convenience kitchen (no stove). The spacious second floor apartment has beautiful hardwood floors, excellent architectural details, a recently renovated kitchen, and a private second floor/deck, porch for breakfast, relaxing or entertaining. The first-floor entry vestibule to the apartment offers additional flex space for a reading nook, office, or sitting area. A separate outbuilding consists of two roughly square spaces with high ceilings and unfinished details. Currently used as an artist studio and shop space, they offer endless potential for local artisans or contractors looking for space to operate their business, practice their craft, or store equipment. Between the two buildings is a large, fenced back yard, offering yet another space for relaxing, entertaining, and perhaps a garden or additional outdoor workspace. Both buildings have full basements with high ceilings, offering significant square feet for equipment storage or additional workspace. Building is in a Mixed Used District in Cheltenham Village, Cheltenham Township. The Township Zoning office is the source for information about permitted uses or any commercial/residential conversion possibilities.