20 unit apartment building $150000 20000ft2

Located in PA
Selling by owner –
Building is vacant – just a shell
Zoning — Commercial residential
Rock bottom Price 150k -Clean title — No violations – no owner financing
Rehab Cost $350k includes inspections and permits.
ARV $950k+
Cap rate of around 30%
Lot Size 88×60
Public parking in front of the building
15,000 Square feet plus 5000 Square feet in the basement
$1,200 in property tax a year
Each unit has its own electric and water meter
1 bedroom apartments — 16
2 bedroom apartments — 4
Year built 1930
Previous rent roll on 1 to 2 bedroom is $550 to $700
Potential cash flow of around $144k+ annually
$12,000 sewer charges each year
$3,500 insurance
15% Management fee covers: -light maintanance – rent collection – cleaning – snow removal and leaves – tenant corresponds.

Rehab Cost – includes permits and inspections, new roof – concreate basement- powerwash and paint for the back side of the building with laundry hookups in the basement. New flooring, insulation, electric, plumbing, doors, kitchens, bathrooms, electric heat and the works are included. The foundation and structure is in very good condition. Turn key is 10 months *all brand new interior and appliances *. Power source for heating will be electric. Gas is optional but will cost more to setup.

Nearby cities
Scranton, Harrisburg, Williamsport, Bloomsburg, Reading, Sunbury, Elysburg

serious buyers only!

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