347 S George Street
York,
PA
17401
Property Details
| List Price: |
$349,900 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
6277 |
| Agency: |
Berkshire Hathaway HomeServices Homesale Realty |
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Description/Comments
| Lot Size: |
-- |
| Property Type: |
MultiFamily |
| Year Built: |
1900 |
| Notes: |
REDUCED! Now 5/4/24 a 12.6% ROI!!! Investors! Don’t miss this “as is†6 unit property - a rare find in today’s world yearning for stability and positive cash flow! This property has had some recent updates, 5 completed units - 3 of which are rented, and a secure multi-car garage unit with an automatic garage door opener, a security system, additional off street secure parking for multiple cars outside and even more off street parking beyond that! The garage unit has plenty of space to be a 6th 2 bedroom apartment - just hire your contractor to work within the shell of this space! The rear 1st floor unit even includes a fully functioning recording sound studio and 2 full baths! Every unit except the garage includes a refrigerator and a stove. This 6,277 Sq Ft 6 unit building is a cash cow - tenants pay all utilities. This building has 4 separate gas meters and 5 separate electric meters. Attention: this building is being sold “as isâ€. This is an estate sale. The MLS system is lacking in it’s functionality in relation to multi-unit properties. This 6 unit, ‘as is’ estate sale has 4 code approved units. Please ask your Realtor® to provide you all docs uploaded to the MLS “associated docs folder†including a very helpful dossier and an Income and Expense Statement showing a cap rate of 12.60% for this cash generating property. <br />
<br />
MASSIVE CASH FLOW! This property has a total of $61,140 of rents per year which equals $5,095 per month in rent. The Total annual expenses are $15,046. There is a net operating income of $46,094. All together this gives the new owner of this property at a $359,900 sales price a cap rate of 12.25%! This is fantastic cash flow and gives you plenty of funds to make updates every year to increase the rents even more over time! This property presently has 3 units occupied - all tenants would like to stay. 3 units are vacant but owner reserves the right to rent units prior to settlement. <br />
<br />
347 S George St 1st Floor Front: Unit includes stove & refrigerator. Projected rent as per owner $1,100. Recently remodeled unit. New flooring, new electric stove, new drywall ceiling, freshly painted ceilings, trim, walls & flooring. This unit has hot water radiator gas fueled heat, a brand new electric smooth top stove for cooking and a gas fueled water heater.<br />
347 S. George St 1st Floor Rear: Unit includes stove & refrigerator, washer, dryer. Projected rent $750. This unit has access to the unfinished basement. This unit has 2 full baths - one of them is off the fully functioning sound proof recording studio! <br />
347 S George St 2nd Flr Front: Unit includes stove, refrigerator & microwave.<br />
347 S George St 2nd Flr Rear: Unit includes stove & refrigerator.<br />
347 S George St 3rd Flr: Unit includes stove & refrigerator.<br />
347 S. George St 1st Floor Garage: Projected rent $800. This large tanden garage has off street secure parking, auto garage door opener, alarm system, separate electric & could be modified to have a full bath, 1 bedroom & a kitchen making this a 6 unit apartment building! |
| MlsNumber: |
PAYK2059440 |
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| Listing Provided By: |
Berkshire Hathaway HomeServices Homesale Realty, original listing |
| Name: |
Berkshire Hathaway HomeServices Homesale Realty |
| Phone: |
(717) 286-9913 |
| Office Name: |
Berkshire Hathaway HomeServices Homesale Real |
| Office Phone: |
(717) 757-7811 |
| Agent Name: |
Rick Smith |
| Disclaimer: |
Copyright © 2024 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
