Property Info

18 Units: 16 Multi-family units, 1 retail and 1 office unit. 95% Leased

  • City : Nanticoke
  • State : PA
  • Zip Code : 18634
  • Property Type : Residential
  • Square Feet : 20900
  • Lot Size : 19620
  • Year Built : 1928
  • Units : 18
  • Total SF : 20900
  • Gross Annual Rent : $123,180
  • Effective Gross Rent : $115,789
  • Expenses : $52,660
  • Expense % of EGI : 42%
  • NOI : $63,129
  • Cap Rate (at Min Bid) : 12.5%
Status:Active

Additional Information

Building #1 – 6 Unit – 5,400 SF 3-story structure, approximately 75 years old. Masonry framed with unfinished masonry basement. There are 7 electrical services (one for each unit and one for common area including laundry facility), 7 hot water heaters (4 gas and 3 electric), 3 gas boilers (hot water baseboard heat), and electric baseboard heat for 3 apartments. Two apartments are on each floor. The roof is composition shingles. Building #2 – 2 Unit – 2,700 SF 2-story wood-framed double home with unfinished basement. There are 2 electrical services (1 for each unit), 2 gas fired hot water heaters, 2 gas boilers (steam radiant heat). Each apartment is 2 levels. The roof is composition shingles. Building #3 – 4 Unit – 5,704 SF 3-story masonry framed structure, approx. 85 years old. There is a commercial garage on the 1st floor and 4 apartments on the 2nd and 3rd floors. The foundation is masonry with a partial unfinished basement. There are 5 electrical services (1 for each unit), 5 gas services, 4 hot water heaters, and 4 gas fired boilers provide hot water baseboard heat for each apartment. The garage is equipped with gas forced hot air heat. The roof is composition shingles. Building #4 – 4 Unit & 2 Commercial – 6,986 SF 2-story wood framed structure, approx. 85 years old with 2 commercial units and 4 apartments. The foundation is masonry with an unfinished basement. There are 7 electrical services, 4 gas fired hot water heaters, and 5 gas boilers (hot water radiant heat).

Starting Bid: $499,000
    Auction Start: 10/16/2017 8:00 am
    Auction End: 10/26/2017 4:00 pm
    • Time Zone :Eastern
    D
    H
    M
    S

    Important Information

    • Buyers Premium :5%
    • Broker Coop :3%
    • Financing :No
    • Inspection Contingency :Yes
    • Showings :By Appointment

    Auction Contact

    Broker Contact

    • Name :Matt Wolf
    • Firm :High Associates
    • Phone :(717) 209-4033
    • mwolf@high.net