1. Pennsylvania
2. Kutztown
3. 164-168 W MAIN STREET

164-168 W MAIN STREET, Kutztown, PA 19530

Property Description

Take advantage of this desirable location in the thriving Kutztown historic downtown area within walking distance to Kutztown University. Approved for both apartments and student rental uses. Purchase this package of two buildings on two parcels with 6 spacious residential and 2 commercial units. Nearly fully rented with 1 vacancy being filled. Five of the six residential units have been renovated by current owner, one of the commercial spaces was brought up to code, and the parking lot was paved and lined recently. Priced at a 8.2% CAP rate based on current rents and expenses. CAP rate increases to 9.2% (i.e. a higher return) with both the conversion of the furnace from oil to gas which reduces owner's expenses by over $5,000 annually and with increased rents at the planned turnovers in May and June. Call today to inquire about showings. Proof of funding required in order to show. 48 hours mandatory tenant notice period required by tenant leases.

Listing Status:

Active

Listing Office:

Howard Hanna The Frederick Group : 6103980411

Listing Agent:

Carrie C Ward : 4843472359

MLS ID:

PABK2057252

Interior

• Flooring: Laminate Plank
• A/C: None
• Heating: YBaseboard - Hot WaterBaseboard - ElectricOilNatural Gas Available
• Disability Feature: None

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Carrie C Ward, Howard Hanna The Frederick Group