$1,426,000
$1,550,000
8.0%For more information regarding the value of a property, please contact us for a free consultation.
8,615 SqFt
SOLD DATE : 11/30/2022
Key Details
Sold Price $1,426,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 8,615 sqft
Price per Sqft $165
MLS Listing ID PAAD2006870
Sold Date 11/30/22
Originating Board BRIGHT
Year Built 1930
Annual Tax Amount $5,782
Tax Year 2022
Lot Size 0.860 Acres
Acres 0.86
Property Description
Investment opportunity features a (4) property portfolio within a 3-mile radius in Gettysburg, Pennsylvania. Offering includes 16 apartment units, (1) commercial unit, and (2) garages. Portfolio price is $91,176 per unit. Apartment unit mix is (15) two-bedroom apartments and (1) one-bedroom apartment. Commercial unit leased to a local salon. All properties include off-street parking. Apartment leases are short-term with long-term tenants allowing flexibility for the new owner. Rents below market. Buildings have been well-maintained. Current owners acquired the properties from 1995-2008 and manage internally. Properties have metered electricity. There is (1) apartment vacancy which will be kept vacant for new owner to lease at market rate. Strong historical occupancy levels. The Chambersburg Road property includes coin-operated laundry. Current annual rent $142,980. Projected annual rent at market rates is $181,200. Proforma NOI $115,913 reflecting 7.48% Cap Rate. Offering Memorandum available upon request and included in associated documents.
Property Overview: 1338 Chambersburg Rd, Cumberland Twp (8 Apartments,5 Storage Closets & Garage). 358 York St, Gettysburg Borough (1 Commercial Unit & 2 Apartments). 503 York Street, Gettysburg Borough (2 Apartments & Garage). 141 W. High Street, Gettysburg Borough (4 Apartments).
Location
State PA
County Adams
Area Cumberland Twp (14309)
Zoning MIXED-USE
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Wall Unit, Ceiling Fan(s)
Heat Source Electric
Exterior
Garage Spaces 10.0
Utilities Available Sewer Available
Waterfront N
Water Access N
Roof Type Shingle
Accessibility None
Parking Type Parking Lot, Private Garage
Total Parking Spaces 10
Garage N
Building
Foundation Block
Sewer Public Sewer
Water Well
New Construction N
Schools
School District Gettysburg Area
Others
Tax ID 09E12-0082A--000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Alycia N Hays • RE/MAX of Gettysburg
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