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Key Details
Sold Price $1,015,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision None Available
MLS Listing ID 1004938109
Sold Date 06/07/18
HOA Y/N N
Originating Board TREND
Year Built 1893
Annual Tax Amount $12,968
Tax Year 2018
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 0X0
Property Description
Premier downtown Kutztown student housing location- Fully rented for the 2017-18 school year. This property has been fully rented each school year for the past 10+ years. Property is permitted for 24 students. Current occupancy is 22 students, all in private bdrms. Bldg has six (6)- 3 bdrm units and two(2)- 2 bdrm units. Additional income from sandwich shop, summer rentals and coin operated laundry. Recent updates include new roof in 2014, rear porch upgrade 2015, Primary HW heater 2014, gas fired boilers, HW flrs and upgrades to fire escapes,2013. Property has updated appliances, master key lock system for ease of key management and dedicated website for marketing. . Cap rate of 10.68 makes this property an excellent investment opportunity. 6 of the 8 units are rented for the 2018-19 school year.
Location
State PA
County Berks
Area Kutztown Boro (10255)
Zoning CC
Rooms
Other Rooms Primary Bedroom
Interior
Hot Water Natural Gas
Flooring Wood, Vinyl
Fireplace N
Exterior
Waterfront N
Water Access N
Accessibility None
Road Frontage Boro/Township
Parking Type None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Kutztown Area
Others
Tax ID 55-5443-08-87-4756
Ownership Fee Simple
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Bought with Jason Jason Miller • Coldwell Banker Realty
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