130 Adelia St
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130 Adelia St
8 Unit Block of Flats £717,343 (£89,668/Unit) 6.81% Net Initial Yield Middletown, PA 17057
Investment Highlights
- Purpose Built 8 Unit Apartment Building
- 5 units have been renovated
- All desirable (2) Bed (1) bath units
- Strong location near Penn State Harrisburg & Employers
- Over $60K in Capital recent improvements
- On site laundry
Executive Summary
This two building set of purpose built apartments are ideal to attract and retain a strong tenant base. Each unit features (2) bedrooms and (1) bathroom, with comfortable layout. The basement provides a storage space for each unit, and washer/dryer hookups are provided for each unit.
The units feature efficient natural gas heat and hot water heaters, many of which have been replaced. Many units have had recent upgrades with new flooring, bathrooms and cabinet refresh. There is generous parking for residents, off a quiet neighborhood street.
Units provide strong upside in rent with minimal investment, for a classic value add. The generous .52 acre lot provides space to potentially build garages for additional income (buyers should verify with boro). Additional potential to charge for laundry, storage and pet fees.
Landlord pays Water/Sewer. Tenants pay gas, electric and trash. Desirable mix of tenant lease terms for consistent Cash Flow.
The units feature efficient natural gas heat and hot water heaters, many of which have been replaced. Many units have had recent upgrades with new flooring, bathrooms and cabinet refresh. There is generous parking for residents, off a quiet neighborhood street.
Units provide strong upside in rent with minimal investment, for a classic value add. The generous .52 acre lot provides space to potentially build garages for additional income (buyers should verify with boro). Additional potential to charge for laundry, storage and pet fees.
Landlord pays Water/Sewer. Tenants pay gas, electric and trash. Desirable mix of tenant lease terms for consistent Cash Flow.
Property Facts
| Price | £717,343 | Apartment Style | Low Rise |
| Price Per Unit | £89,668 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.52 AC |
| Net Initial Yield | 6.81% | Building Size | 6,400 SF |
| No. Units | 8 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1963 |
| Property Subtype | Apartment |
| Price | £717,343 |
| Price Per Unit | £89,668 |
| Sale Type | Investment |
| Net Initial Yield | 6.81% |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 6,400 SF |
| Number of Floors | 2 |
| Year Built | 1963 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
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zoning
| Zoning Code | R-1 A (a residential zoning district for low-density, single-family homes in quiet areas) |
| R-1 A (a residential zoning district for low-density, single-family homes in quiet areas) |
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130 Adelia St
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