344 Hodgson St - Apartments FOR SALE


Oxford, PA 19363
$950,000 USD
344 Hodgson St, Oxford, PA for Sale
$950,000 USD
Apartments - FOR SALE
1/45
null | 7.45% Cap Rate

344 Hodgson St
Oxford, PA 19363


HIGHLIGHTS

  • 6 apartments and 6 detached garages - 70K in net operating income, 78K without management fee
  • Electronic key fob entry
  • Current owners have rehabbed and updated the property for efficient management - making it easy for a new owner to step in and take over.
  • 100% occupancy with high quality tenants (650 credit score and make at least 3x rent / no smoking / no pets)
  • Camera surveillance system and coin operated laundry
  • Tenants pay all utilities

OVERVIEW

Income producing property 6 units (5, 1-bedroom units, one studio) and 6 separately rented individual garages. Net operating income of 70K (full financials available to qualified buyers). The property is fully rented with high quality tenants - note that listing photos are from before tenants moved in. BRIGHT MLS Listing - PACT2065166 Current owners have rehabbed and updated the property for efficient management - making it easy for a new owner to step in and take over. Owners are selling their whole portfolio for a career change. Updates and repositioning done by the current owners: - Put in all new sidewalks and curbs on all 3 streets and new entry apron by the garages - Repainted the entire house and repaired the soffit and trim - Renovated apartments 5 and 6 - separated electric and installed mini splits (heat/ac) and new kitchens with granite counters - Installed a laundry room with coin operated machines and electronic keypad entry - Put in a trash pad and communal dumpster - Removed and stumped dead trees - All units have separate gas/electric - Tenants pay for water, sewer and trash - Moved all tenants to online payments - Increased the rents to market rate - High quality tenants - must have 650+ credit score and make 3x the rent in verifiable income. - No pets in building - No smoking in building - Annual rent increases are built into all current leases. Other qualities of the property: - Main house entry is by electronic key fob only. - There is a camera surveillance system installed

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

6

PRICE/UNIT

$158,333

CAP RATE

7.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1880

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,714 SF

ZONING

R40

APN/PARCEL ID

06-008-0099.0000

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