812 Broad Street
Multifamily | 6 Units | $333,333/unit
Marketing description
12 Broad Street is a six-unit multifamily building in Milford, Pike County, Pennsylvania, built in 2017 and fully occupied. Each unit is a roughly 1,500 SF two-bedroom-plus-den, two-bath residence with a private porch or balcony. The building carries no deferred maintenance and steps into income with no near-term capital plan.
The property produces $168,000 in gross annual rent across all six occupied units, against $25,893 of operating expenses, for $142,107 of net operating income – a 7.10% acquisition cap rate at the $2,000,000 asking price. Four of the six units rent at $2,000, leaving room to bring rents to market as units turn. The 2017 construction and high-end finishes – stone countertops, subway-tile kitchens, tiled walk-in showers, stainless appliances, and private balconies – support premium rents and low repair cost. For a buyer, the result is a turnkey, all-residential asset with durable cash Sow and a simple operating profile.
Investment highlights
- Built 2017, No Deferred Maintenance - Turnkey condition; roof, mechanicals, and systems well within service life. Repairs run $400 a year.
- Fully Occupied - All six units occupied, producing $168,000 in gross annual rent. Tenants in place without long-term leases.
- High-End Finishes - Stone countertops, subway-tile kitchens, tiled walk-in showers, stainless appliances, and private balconies.
- Spacious 2-Bed-Plus-Den Units - 1,500 SF per unit with two baths and private outdoor space – a layout that lives larger than typical apartment stock.
- Lean Operating Profile - All-residential, single-building operation. Expenses total $25,893 against $168,000 in rent – a 15.4% expense ratio.
- Rent Upside - Four units rent at $2,000, leaving room to bring rents to market as units turn.
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