359 MAIN Mcsherrystown, PA 17344
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,180 sqft
Price per Sqft $179
MLS Listing ID PAAD2023930
Style Other
Abv Grd Liv Area 3,780
Year Built 1930
Annual Tax Amount $10,209
Tax Year 2025
Lot Size 0.430 Acres
Acres 0.43
Property Sub-Type Other
Source BRIGHT
Property Description
Long time owners have taken great care of this well built property, and have a long established tenant base. This property has a Labor & Industry Certificate for code items, and is a long standing established Boarding house under the Commercial 1 zoning in McSherrystown Borough. The property was constructed in 1930 originally as a well built grand home, and was converted into a group home and later Boarding House.
The property consists of 17 rooms over 4 floors. There are 3 Common bathrooms and one room that has a private bath. Residents use a common kitchen and have access to laundry area in basement. There are several generous porches for tenant use around the exterior, and on site parking for 17 cars.
Many of the major components of the building are well within useful life, with the roof, Boiler, water heater all 10 years old approximately or newer.
Each room is all- inclusive, with the Landlord covering the utilities, common area cleaning, Wi-Fi access, parking and basic furniture included. This increases the appeal for the tenant base with rent that provides all of their living costs. Each tenant signs an initial 6-month lease, converting to Month-to-Month at lease end. They are provided an option to pay weekly or monthly for rent.
There is significant upside on rents, as Landlord has not recently done an increase, but has completed nice cosmetic upgrades recently. With significant operating efficiency and great upside in rents, The McSherrystown Rooming house presents investors opportunity to realize current 7% Cap with upside to 9% Cap.
Location
State PA
County Adams
Area Mcsherrystown Boro (14328)
Zoning C1
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Other
Fireplace N
Heat Source Natural Gas
Exterior
Garage Spaces 17.0
Water Access N
Accessibility Other
Total Parking Spaces 17
Garage N
Building
Above Ground Finished SqFt 3780
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Conewago Valley
Others
Tax ID 28005-0184---000
Ownership Fee Simple
SqFt Source 5180
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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