Listed by REAL of Pennsylvania
$975,000
Huge Cash Flowing Property
Details
APN 0375-H-00199-0000-00
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 20,000
Units 42
Cap Rate 19.00%
NOI $156,882
Occupancy 89%
Tenancy Multi
Lease Type Gross
Pro-Forma Cap Rate 21.95%
Pro-Forma NOI $214,000
Broker Co-Op Yes
Class C
Year Built 1958
Buildings 1
Stories 3
Lot Size (SqFt) 6,799
Tenant Credit No Credit Rating
Ground Lease No
Ownership 100
Great Cash Flowing Building
Marketing description
Rare opportunity to purchase this huge cash flowing property. The building consists of 38 room rentals and 4 commercial spaces. Hollywood Show Bar currently occupies one of the spaces. All rooms are rented on a monthly basis. Huge upside cash flow could be increased by at least 30% by renting out the other commercial spaces and the remaining 6 rooms. 32 rooms are currently rented. Building had a hotel liquor license and all room are considered room rental not apartments which make it easier to rent and control. Bar and equipment is included in the price or can be purchased separately. MUST SEE!!
Investment highlights
17.8% CAP RATE!!!
Unbelievable cash flow month after month!!
Current manager maybe interested in working for new owner (Negotiable)
Listing Contacts
Listed by REAL of Pennsylvania
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$156,882.00
$13,073.50/mo
Valuation Metrics
0
DSCR
16.09%
Cap Rate
16.09%
ROI
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