Description
KUTZTOWN STUDENT HOUSING - Incredible opportunity to purchase a well maintained 4 unit building just minutes from Kutztown University. 7.32% Cap Rate. 12.87% Cash on Cash Return. Property consists of four apartments licensed for 11 students with 11 individual bedrooms, common area laundry room, oof street parking for 13 cars and 3 oversized garage bays. All apartments have one full bath. 0ne 2 student apartment and three 3 student apartments. Landlord pays water, hot water, sewer, taxes, insurance, basement and laundry area electric. Tenant pays electric, trash, cable and internet (all apartments are electric baseboard heat). 5 meters, one for each unit plus landlord meter. New improvements include new water heater (2019), New Roof (2014) and $58k addition of two bedrooms to unit 4 apartment to increase total student permit from 9 to 11 bedrooms (2013). All appliances are included in the sale. Centrally located next to Turkey Hill and within walking distance to downtown dining & shopping. Great rental history. Additional rent from summer occupancy and garage rental.
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0BEDS
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0.35ACRES
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0BATHS
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01/2 BATHS
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3,782SQFT
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$185$/SQFT
Description
KUTZTOWN STUDENT HOUSING - Incredible opportunity to purchase a well maintained 4 unit building just minutes from Kutztown University. 7.32% Cap Rate. 12.87% Cash on Cash Return. Property consists of four apartments licensed for 11 students with 11 individual bedrooms, common area laundry room, oof street parking for 13 cars and 3 oversized garage bays. All apartments have one full bath. 0ne 2 student apartment and three 3 student apartments. Landlord pays water, hot water, sewer, taxes, insurance, basement and laundry area electric. Tenant pays electric, trash, cable and internet (all apartments are electric baseboard heat). 5 meters, one for each unit plus landlord meter. New improvements include new water heater (2019), New Roof (2014) and $58k addition of two bedrooms to unit 4 apartment to increase total student permit from 9 to 11 bedrooms (2013). All appliances are included in the sale. Centrally located next to Turkey Hill and within walking distance to downtown dining & shopping. Great rental history. Additional rent from summer occupancy and garage rental.
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Shawn Martin Group | Keller Williams Flagship of Maryland. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-06-03T16:51:56.09.