Current Price:$1,535,000 List Date:10/21/2024Last 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***
Realtor.COM Type: Multi-FamilyStyle: Apartment BuildingApx Below Grade Finished SqFt: 0Apx Above Grade Finished SqFt: 13560Lot Acres: 0.79SqFt. B: 0SqFt. 1: 6780SqFt. 2: 6780SqFt. 3: 0Lot Size: .79Basement: See RemarksActual/Est YearBuilt: EstimatedTotal Bedrooms: 451st Floor Bedrooms: 0Baths - Total 3/4: 0Baths - Total Half: 0Total Bathrooms: 20Garage Stall: See RemarksGarage Type: Off Street ParkingTotal SqFt.: 13560Year Built: 1973Number of Units: 20Baths - Total Full: 20
Location, Tax and Other Information
Area By County: Columbia CountyDB Page: 20220-3480Elevation Cert: NoSpecialFloodHazArea: NoSchool District: BloomsburgTaxes: 11159.74Tax Year Addl Info: 2024
Remarks
Directions: From Bloomsburg to Buckhorn, units are on right immediately outside of Bloomsburg.
Documents
Deed: 1Tax Card: 1
Amenities
Paved Streets: 1Street Lights: 1
Details
Sign: NoExclusions: Tenant possessionsSeller Finance: Yes# of Units: 20
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.