201-207 MILLVILLE Road, Bloomsburg, PA 17815 (MLS# 20-98110)

201-207 MILLVILLE Road, Bloomsburg, PA 17815

$1,535,000
Property Type: Multi-Units Bedrooms: 45 Baths: 20 Square Footage: 13,560 Lot Size (sq. ft.): 34,412 Status: Closed
Current Price: $1,535,000 List Date: 10/21/2024 Last Modified: 3/02/2025

Description

Introducing a rare investment opportunity in Bloomsburg. This well-maintained 20-unit apartment complex boasts a remarkable 95% annual occupancy rate, offering a stable and lucrative addition to any portfolio. Currently fully occupied with most leases continuing through 2025. All units are metered separately, with tenants responsible for their own electric, heat, and water, minimizing owner expenses. Part of the complex is equipped with high-speed internet access, ensuring modern connectivity for all residents as well as the ability for the owner to have on-site security cameras. Each unit includes a parking space, a valued amenity in this area. The current owner utilizes an online platform for seamless payment processing and maintenance requests, adding to the property's efficiency.

Supplements: There's also untapped potential to further increase income by converting five studio units into fully furnished and remodeled spaces, perfect for short or mid-term rentals. This strategy has already proven successful, with one studio generating $1,200 monthly. There's also the option to add shared laundry facilities, enhancing tenant satisfaction and boosting revenue. Moreover, the existing property manager is willing to stay on for an additional three months at $1000/month, ensuring a smooth transition for the new owner. Property is currently occupied by long and mid-term residential tenants (not students) but does have dual zoning in the High-Density District and can be rented to either residential or student tenants. Whether you're looking to expand your real estate holdings or secure a solid income-producing property with growth potential, this complex offers an excellent opportunity in Bloomsburg. Close proximity to many of the area's local employers: Bloomsburg University, Geisinger, Talen, new Amazon data center, plus close to multiple walking/biking trails. Don't miss out on this prime investment! ***One of the selling partners is a PA licensed real estate agent***

More Information MLS# 20-98110

Contract Information

Book Section: Multi-Family Assessed Valuation: 135760 Current Price: $1,535,000 Begin Date: 2024-08-27 Status: Closed Sold Price: $1,535,000

General Property Description

Realtor.COM Type: Multi-Family Style: Apartment Building Apx Below Grade Finished SqFt: 0 Apx Above Grade Finished SqFt: 13560 Lot Acres: 0.79 SqFt. B: 0 SqFt. 1: 6780 SqFt. 2: 6780 SqFt. 3: 0 Lot Size: .79 Basement: See Remarks Actual/Est YearBuilt: Estimated Total Bedrooms: 45 1st Floor Bedrooms: 0 Baths - Total 3/4: 0 Baths - Total Half: 0 Total Bathrooms: 20 Garage Stall: See Remarks Garage Type: Off Street Parking Total SqFt.: 13560 Year Built: 1973 Number of Units: 20 Baths - Total Full: 20

Location, Tax and Other Information

Area By County: Columbia County DB Page: 20220-3480 Elevation Cert: No SpecialFloodHazArea: No School District: Bloomsburg Taxes: 11159.74 Tax Year Addl Info: 2024

Remarks

Directions: From Bloomsburg to Buckhorn, units are on right immediately outside of Bloomsburg.

Documents

Deed: 1 Tax Card: 1

Amenities

Paved Streets: 1 Street Lights: 1

Details

Sign: No Exclusions: Tenant possessions Seller Finance: Yes # of Units: 20

Construction

Frame: 1 Masonry: 1

Basement/Foundation

Outside Entrance: 1 Unfinished: 1 None: 1 See Remarks: 1

Exterior Finish

Vinyl: 1 See Remarks: 1

Services/Utilities

Road Type: Public Water: Public Sewer: Public Total Parking Spaces: 42 Heating: Electric Baseboard

Roof Type/Year

Roof Year: Approx 2014 Shingle: 1

Major Appliances

Ranges: 20 Refrigerators: 20 Dishwashers: 6 Washers: 2 Dryers: 2 Electric Meters: 23 A/C Units: 8 Furnaces: 0 Water Heaters: 20

Income and Expenses

Gross Oper Income: 221000 Electricity: 1200 Water/Sewer: 7972 Maintenance: 18270 Insurance: 11823 Taxes: 11160 Lawn/Snow: 2700 Garbage: 2225 Other: 1440 Total Expenses: 56790 Net Oper Income: 164210

Unit 1

Laundry Hookups: Yes Heat Pd By: Tenant Water Pd By: Tenant

Green Energy Generation

None: 1

Sold Information

Under Contract Date: 2024-11-08 Sold Date: 2025-02-28 Sold Price: $1,535,000

Location Tax and Other Information

Area: Bloomsburg House Number: 201-207 Street Name: MILLVILLE Street Suffix: Road County: Columbia State/Province: PA Postal Code: 17815 Municipality: Bloomsburg Zoning: RU Subdivision: 0-None PIN Number: 05E06 01800 & 05E06 01700

Property Features

Construction: Frame; Masonry Exterior Finish: Vinyl; See Remarks Amenities: Paved Streets; Street Lights Green Energy Generation: None Documents: Deed; Tax Card
Listing Office: CENTURY 21 COVERED BRIDGES REALTY
Listing Agent: SAMANTHA CAPITA
Last Updated: March - 02 - 2025
DISCLAIMER NOTICE: The information above is provided exclusively for the use of Members of the Central Susquehanna Valley MLS ('CSVBR-MLS'). Buyers and all other individuals not members of the CSVBR-MLS ('all non-MLS members') are NOT AUTHORIZED TO UTILIZE THIS INFORMATION AND HAVE NO RIGHT TO RELY ON IT. All non-MLS members must independently verify all information important to them and agree to hold all members of the CSVBR-MLS harmless from all liability for the accuracy of this information if they fail to independently verify that information. Antitrust Compliance Notice. See Notice.