Attention investors! Here’s a 3 (maybe it could be 4 income generating units in total if you include the 1 car garage to the rear) triplex property. New roof Feb of 2023! This unit has 3 apartments which are as follows: Apt 1: 1 Bedroom, 1 Bath $775 mo. to mo. written lease. Apt 2: 2 Bedrooms, 1 Bath $850 mo. to mo. written lease. Apt 3: 1 Bedroom, 1 Bath $625 mo. to mo. Unit 1 is located on the ground floor and has access to the basement. The exterior has 5 electrical boxes. Tenants pay all electric. Garage has it’s own electrical box. 1 Common area electrical box for owner. Owner pays all heat, water, sewer and garbage. Tenants pay electric. 1 Furnace in the bsmt is controlled by the tenant on the 1st floor. Owner pays for all hot water and cooking gas as well.
This property provides a monthly rental cash flow of $2,250 per month which is $27,000 per year.
Yearly Expenses: $12,901
Net Operating Income: $14,099.
Cap Rate of 8.65%.
Expenses are: Gas $3,302, Water $1,260, Sewer $1,260, Insurance $750, Maintenance $1,000, Vacancy Factor of 5% is $1,350, Code Inspections $450, Taxes $2,545, Garbage $984.
All written leases can be downloaded - ask your Realtor® to look in the associated docs for more documentation. All tenants have been informed they will be notified of all showings. Please schedule showings between 9 AM and no later than 8 PM. West King Street is a wide street with updated public lamp lighting and recently paved very smooth streets. 1st floor unit with access to the basement could have a coin operated washer and dryer installed with some work. Some water in basement likely from alley way needing to be caulked. Unit 3 is only accessible via the rear metal fire escape. Unit 1 tenant has furniture in front of the door via the vestibule. Unit 1 and Unit 2 have front and rear accesses. Unit 3 is only accessible via the 3 story fire escape. Presently this property is being well managed by Yorktowne Property Shoppe which is located only a few blocks away from this property.
Property Type :
Multi-Family
County :
YORK
Style :
Multi-Family
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ByOwner last updated this listing 04/29/2024 @ 19:23
MLS: PAYK2054028
LISTED BY: Andrew T Smith , Berkshire Hathaway HomeServices Homesale Realty
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 3%
Buyer Agency Description: Combo lockboxes are located at the front of the property on the railings. There are multiple keys to access these units. Too many keys for 1 lockbox. All units are occupied - be sure to knock loudly and announce yourself before entering units.
