York, PA

Property Type: Multifamily
Size: 15 Units
Price: $1,700,000
CAP: 6.09%

Highlights:

  • 15-Unit Apartment Building in York, PA
  • All Spacious Loft-Style Units; 80% of Units are Two-Bedrooms
  • Turnkey Asset - Completely Renovated in 2011 with New Kitchens, Roof, Card Controlled Access, and More
  • Below Market Rents
  • Excellent Location - Walking Distance to Downtown
  • Delivered Free-and-Clear of Debt

Description:

Marcus & Millichap is pleased to present for sale Gable Flats - A 15-unit apartment building, located in the city of York, York County, Pennsylvania. The current owner completely renovated the building after purchasing the asset in 2011.

Gable Flats is comprised of 3 large one-bedroom + den units, and 12 two-bedroom units. There are five units on each of the three floors of the building, with elevator access to all. All of the loft-style units feature hardwood flooring in the living spaces, along with newer appliances in the fully equipped kitchens. In addition to renovating all of the units, the owner replaced the roof. The building has card controlled access, and is fully sprinklered. There is additional storage available to rent in the basement of the building.

Located within walking distance of downtown York, this asset is situated in proximity to all of the amenities that York has to offer, including stores, restaurants, banks, PeoplesBank Park (home of the professional baseball team the York Revolution), Westminster Park, and local schools. Current ownership has experienced strong occupancy and has recently increased rents, but there is still room for an experienced investor to increase rents even further. The building will be delivered free-and-clear of debt.


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