Take advantage of this desirable location in the thriving Kutztown historic downtown area within walking distance to Kutztown University. Approved for both apartments and student rental uses. Purchase this package of two buildings on two parcels with 6 spacious residential and 2 commercial units. Nearly fully rented with 2 recently updated units being filled. Five of the six residential units have been renovated by current owner, one of the commercial spaces was brought up to code, and the parking lot was paved and lined recently. Priced at a 9.3% CAP rate based on current rents and expenses. CAP rate increases to 9.9% (i.e. a higher return) with both the conversion of the furnace from oil to gas which reduces owner's expenses by over $5,000 annually and with increased rents at the from the vacant units. Call today to inquire about showings. Proof of funding required in order to show. 48 hours mandatory tenant notice period required by tenant leases.
Property Features
Heating Information
Natural Gas
Oil
Baseboard
Parking
Private
Paved
Parking Lot
Cooling Information
None
Water Features
Public
Utilities
Natural Gas Available
Listing Courtesy: Howard Hanna The Frederick Group - 610-398-0411