347 N RAILROAD ST Under Contract Save Request In-Person Tour Request Virtual Tour
Palmyra,PA 17078
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Under Contract
Purchase Type For Sale
Square Footage 7,992 sqft
Price per Sqft $150
MLS Listing ID PALN2016154
Originating Board BRIGHT
Year Built 1960
Annual Tax Amount $8,815
Tax Year 2024
Lot Size 0.320 Acres
Acres 0.32
Property Description
Don't miss your opportunity to own this turnkey 12 unit apartment building in Palmyra. This property has all new replacement windows, freshly painted common areas, new hot water heater, paved parking lot, updated roof and 12 one bedroom/one bath units that have all been partially updated inclucing newer alppliances. This property is currently 100% occupied with many seasoned tenants. It includes additional annual income from coin operated laundry in the basement/laundry area. The washer/dryers are less then 5 years old. This beautiful building is conveniently located near Hershey, 83, 283, and 743. It is also nestled very close to all local shopping amenites, major medical centers, and dining. Property performs flawllessly on an annual basis with little to no vacancy. Based on curent rent roll and operating expenses, the property is running at about a 7% CAP which you can see in the attached documents. There is also addtional room for future rent increases. Member of LLC that owns property is a PA Licensed Realtor and also is the sole member of the property management company that currently manages the building.
NOTE:
1. All 12 units are all electric, have their own breaker panels in the unit and are metered separately so tenants are responsible for unit electric per the terms of their lease.
2. There is a common area electric meter and owner pays for water, sewer, trash and hot water. The building has a new commercial hot water heater.
Location
State PA
County Lebanon
Area Palmyra Boro (13216)
Zoning COMMERCIAL APARTMENTS
Interior
Hot Water Natural Gas
Heating Baseboard - Electric
Cooling None
Flooring Carpet,Laminate Plank,Hardwood
Inclusions all apartment appliances coined commercial washer/dryers materials onsite in basement storage area
Heat Source None
Exterior
Garage Spaces 12.0
Waterfront N
Water Access N
Roof Type Flat,Rubber
Accessibility None
Parking Type Parking Lot
Total Parking Spaces 12
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Middle Schools Palmyra Area
High Schools Palmyra Area Senior
School District Palmyra Area
Others
Tax ID 16-2289235-358572-0000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard