110 King Street, Pottstown, PA 19464

Property Description

One of a kind investment opportunity. The is an apartment complex located in the historic district of Pottstown. The building has been recently renovated and is current unoccupied. The following financials detail the potential this building has! Two (2) 1BR/1Bath apartments. One (1) efficiency. Six (6) single rooms. Two (2) double car garages. We own the driveway. The owner of the building next door pays us yearly for an easement. Inside redone a few months ago. Painted, new LVT floor, etc. There are six (6) heat pumps that provide heat/cooling. They are less than (10) years old. Income Each 1BR rents for $1,572 (section 8). $18,864 annually The efficiency rents for $1,428 (section 8). $17,136 annually Each single room rents for $750 (self-pay). $54,000 annually Each garage rents for $200. ($4,800 annually) Easement rents for $400 per year. ($400 annually) Total Annual Revenue = $95,200 Expenses (water, electric, taxes, trash) Water, sewer, trash (approximately $12,000 annually) Electric for heat and air condition (approximately $8,000 annually) Taxes are $5,400 annually Total Annual Expenses = $25,400 NOI = $69,800 Cap rate is 12%

Property Features

Local Schools