10 E MAIN STREET, KUTZTOWN, PA 19530

SGD $899,370

USD $675,000

Other
Property ID: 110062783376 More details

Commercial - KUTZTOWN, PA

10 E MAIN STREET, KUTZTOWN, PA 19530

Description

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KUTZTOWN STUDENT HOUSING - Incredible opportunity to purchase a well maintained 4 unit building just minutes from Kutztown University. 7.32% Cap Rate. 12.87% Cash on Cash Return. Property consists of four apartments licensed for 11 students with 11 individual bedrooms, common area laundry room, oof street parking for 13 cars and 3 oversized garage bays. All apartments have one full bath. 0ne 2 student apartment and three 3 student apartments. Landlord pays water, hot water, sewer, taxes, insurance, basement and laundry area electric. Tenant pays electric, trash, cable and internet (all apartments are electric baseboard heat). 5 meters, one for each unit plus landlord meter. New improvements include new water heater (2019), New Roof (2014) and $58k addition of two bedrooms to unit 4 apartment to increase total student permit from 9 to 11 bedrooms (2013). All appliances are included in the sale. Centrally located next to Turkey Hill and within walking distance to downtown dining & shopping. Great rental history. Apartments 1,2,3 leased for Spring 21, Fall 21, and Spring 22 semesters. Apartment 4 is on annual lease until 08/15/2021 and tenants have expressed great interest to sign for an additional year. Additional rent from summer occupancy and garage rental.

Basic info

  • Property Type Other
  • Land Size 15,246.01 sq ft (approx)
  • Year Built 1900
  • Rooms
  • Architecture Style Other
  • Provider Coldwell Banker Preferred
  • Franchise Coldwell Banker Real Estate
  • County BERKS
  • Neighbourhoods KUTZTOWN BORO
  • Address 10 E MAIN STREET, KUTZTOWN, PA 19530

Interior features

Exterior features

  • Exterior Types Aluminum SidingVinyl Siding

Data Provided by Coldwell Banker Preferred, MLS#: PABK371964

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