862 Iron Ridge Rd, Spring Grove, PA 17331 For Sale

862 Iron Ridge Rd presents the opportunity to acquire a well-maintained 11-unit multifamily property set on a picturesque 2.7-acre site in Spring Grove, Pennsylvania. The property includes three residential buildings and an on-site coin operated laundry facility, offering a unit mix of three (3) 2-bedroom/1-bath apartments (B, C, and D) and eight (8) 1-bedroom/1-bath units. The rural, park-like setting contributes to strong tenant retention and steady income.

The subject has average rental rates of $888 with tenants paying for electric. Value add-potential for the next owner by completing renovations to Units C, D, G, and H.

Since 2021, approximately $200,000 has been invested in renovations and infrastructure upgrades, positioning the asset for stable operations with limited near-term capital needs. Improvements include renovated units, new electric baseboard heating systems, updated water heaters, plumbing and electrical upgrades, modern appliances and lighting, insulation, energy-efficient windows, and a fully overhauled well system. The property also benefits from a re-paved driveway and parking area (2022), separate electric service for 8 of 11 units, professionally maintained well and septic systems, and a stream running through the property, enhancing its unique investment appeal.