$125,000
$139,900
10.7%For more information regarding the value of a property, please contact us for a free consultation.
3,000 SqFt
SOLD DATE : 08/30/2019
Key Details
Sold Price $125,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $41
MLS Listing ID PASK115630
Sold Date 08/30/19
Style Federal
HOA Y/N N
Abv Grd Liv Area 3,000
Originating Board BRIGHT
Annual Tax Amount $2,506
Tax Year 2018
Lot Size 3,920 Sqft
Acres 0.09
Property Description
Fantastic cash cow apartment fully rented with the exception of Unit Room E currently occupied by the owner as his office. The building is located in the desirable Palo Alto neighborhood in Pottsville. Former meat packing building. Solid construction, stucco over block. Long term owner who occupied one of the units up until recently. The building consists of a total of 4 units spread over two levels and two addresses 44-46 E. Bacon St but is known as 44 E. Bacon St. Level 1 on the 44 side consists of 5 boarding rooms rented on a monthly basis at $300-400/month, some long term tenants, some units furnished, community bath and main area. Unit A - $350/month, Unit B - $375/month, Unit C - $300/month, Unit D - $300/month, Unit E -$400/month/owner's office. Owner pays all utilities for these rooms. Gross rents at capacity is $1725/month. 4 out of the 5 Rooms are currently rented. The owner occupies the 5th room. as his office. This is referred to collectively as unit 1. Unit 2, 44 side 2nd level has 5 rooms, 2 BRS, new windows, electric cooking, electric hot water, new carpeting, tenant pays electric, rented for $850/month. Unit 3 is on the 46 side level 1 rear is an efficiency apt, built-in bunk bed, electric baseboard heat backup, electric hot water & cooking, tenant pays electric, rented for $450/month. Unit 4 is on the 46 side 2nd level has 5 rooms, 2 BRS, enclosed rear porch, replacement windows, 100 AMP panel in unit, electric hot water & cooking, tenant pays all electric, rented for $700/month. Owner pays oil heating for all the units and cold water/sewer. Tenants pay for trash. 4 zones for heating. Gross yearly rents at full occupancy is $44,700. Current monthly rents $3,325. Total expenses $12,356. Net operating income $32,344. Cap Rate at 23%. Insurance: $2,000. Water/Sewer: $2,000. Electric: $2,700. Heat: $3,600. Inspection: $150. Taxes: $2,506. The building is in overall very good condition with many recent updates. New asphalt rolled roof in 2003. New oil boiler in 2003. This is a definite must for your investment portfolio!
Location
State PA
County Schuylkill
Area Palo Alto Boro (13357)
Zoning R3
Rooms
Basement Full, Unfinished
Interior
Interior Features Carpet, Stall Shower, Ceiling Fan(s), Entry Level Bedroom
Hot Water Electric
Heating Hot Water
Cooling Window Unit(s)
Equipment Oven/Range - Electric, Refrigerator, Water Heater
Fireplace N
Window Features Double Pane,Replacement
Appliance Oven/Range - Electric, Refrigerator, Water Heater
Heat Source Oil
Exterior
Waterfront N
Water Access N
Accessibility Level Entry - Main
Parking Type On Street
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Federal
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Pottsville Area
Others
Tax ID 57-05-0081.001
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Jose M Candelaria • RE/MAX Of Reading
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "