Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1959
Sq.Footage
N/A
Attention Investors! Check out this 7-unit Apartment Building with potential for great rental history. Building is being sold *AS IS* and most apartments are in need of rehabilitation. The building features two-1Bed/1Bath Apartments, four-2Bed/1Bath, and one 3-Bed/1Bath. Three of the 7 units are currently rented bringing in $1,500 a month--the owner lives in one of the apartments. Projected rent at the present rate on the vacant apartments is $525 per month totaling over $2,625 in monthly income (including current owner)! Possible projected rent would be $550 for the 1 bed apartments and $650 for the 2-bed apartments, and $750 for the 3-bed apartment. Total potential income would be $4,450 or $53,400 gross income yearly. Each apartment is separately metered for electric and heated with electric baseboard with the exception of apartment 7. Apartment 7 is gas heated and has had some updates. Water, sewer, & trash is an owner expense. Each unit has washer/dryer hookups. Unit 1 is ready to rent. Unit 5 is owner occupied and in need of updates. Units 6 & 7 are rented. Units 2, 3, and 4 are in need of trash removal and in need of rehabilitation. The building is in the floodplain. If financing is needed, Erie estimated $8,000/year flood insurance.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Window Unit(s), Ceiling Fan(s), Electric
-
Heating YN
YES
-
Heating
Electric, Natural Gas, Baseboard
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Aluminum Siding, Stone
-
Parking
Garage, Parking Lot
-
Pool
No
-
Waterfront YN
NO
-
View
Mountain(s), Water, Creek/Stream, Pasture, Street
Area & Lot
-
Lot Size(acres)
1.33
-
Property Type
Commercial Sale
Price
-
Sales Price
$160,000
-
Tax Amount
$1,543
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
GEORGES CREEK
-
Middle School
WESTMAR
-
High School
MOUNTAIN RIDGE
Property Features
-
Stories
2
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
ALLEGANY
Elementary School
GEORGES CREEK
Middle School
WESTMAR
High School
MOUNTAIN RIDGE
Listing Courtesy of Nadine Beechie , Coldwell Banker Premier
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AGENT
Kasey Wootton
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