Description
This exquisite Second Empire home was constructed in 1876 by James Shearer, for he and his wife Margaret. History runs deep in its veins, including a personal letter from Thomas Edison, asking the Shearers to use their home to showcase his new technology: electricity. Today, it is a lovingly restored, solid, highly profitable 16 unit apartment home. With several long term tenants, all units are leased at a slightly below market rate (rents could comfortably run $40-50 higher per unit). Through the years, as tenants moved out, the current owners refreshed each unit (with the exception of 2 apts) with beautifully refinished hardwood floors, paint, vanities, and some bath/showers. Many units feature breathtaking original plaster adornment, towering ceilings, and ornate fireplaces! All have charming kitchens, and efficient bathrooms- efficiency apartments have murphy beds. In addition to rents, building includes a laundry facility with coin-operated machines.
