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Key Details
Sold Price $1,185,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 7,830 sqft
Price per Sqft $151
MLS Listing ID PALA2013126
Sold Date 03/16/22
Originating Board BRIGHT
Year Built 1905
Annual Tax Amount $10,351
Tax Year 2021
Lot Size 0.420 Acres
Acres 0.42
Lot Dimensions 0.00 x 0.00
Property Description
Rare investment opportunity - 12 unit apartment building 9-1 bedroom units, 3 - 2 bedroom units plus public laundromat. All units have modern kitchens & baths, each unit has heat pump/central air with the exception of the basement apartment, individual electric meters for each unit. Inside access to units via common hallways. Recent upgrades include new balconies & paved parking lot. Currently all units are rented with the exception of Unit 12. Easy to rent, great rental history & some long term tenants. Gravel lot is rented to neighboring restaurant for $400 per month. Landlord pays water & sewer for the building. This property has a great cap rate and would make a wonderful addition to a rental portfolio. Current gross income is $111,480, the laundry is not being used to its full income potential. Total expenses including taxes $27,685.
Location
State PA
County Lancaster
Area East Cocalico Twp (10508)
Zoning COMMERCIAL
Interior
Hot Water Electric, Natural Gas
Heating Baseboard - Electric, Forced Air
Cooling Central A/C, Window Unit(s)
Flooring Carpet, Vinyl
Heat Source Electric
Exterior
Garage Spaces 18.0
Utilities Available Natural Gas Available, Electric Available, Sewer Available, Water Available, Cable TV Available
Water Access N
Roof Type Rubber,Flat,Shingle
Accessibility None
Total Parking Spaces 18
Garage N
Building
Lot Description Corner, Level, Road Frontage
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Cocalico
Others
Tax ID 080-63961-0-0000
Ownership Fee Simple
SqFt Source Assessor
Security Features Fire Detection System,Smoke Detector
Acceptable Financing Cash, Bank Portfolio
Listing Terms Cash, Bank Portfolio
Financing Cash,Bank Portfolio
Special Listing Condition Standard
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Bought with Carol Lehman • Hostetter Realty LLC