5104 Fairfield Rd - Apartments FOR SALE


Fairfield, PA 17320
$850,000 USD
717-819-2825
5104 Fairfield Rd, Fairfield, PA for Sale
$850,000 USD
Apartments - FOR SALE
1/29
null | 8% Cap Rate

5104 Fairfield Rd
Fairfield, PA 17320


HIGHLIGHTS

  • Perfect option for an owner/operator complex to live in the house while rental income pays for your home and even more.
  • Potential to subdivide off the house to sell separately. The house has an estimated value of $300,000.
  • Potential option to build more units - with 2.59 acres of land, there is plenty of open land that can be built upon to add more units
  • Excellent potential for a combination of STR and MTR to maximize gross rents.

OVERVIEW

Established mid-term rental property in the desirable Gettysburg travel market. Property includes 10 single room rentals, each with an attached bath. Each room has a microware, fridge, table & chairs, queen bed and space to spread out. The rooms rent for an average of $925 per month. Also included is a house with five bedrooms, 2 ½ bathrooms, 2 car garage, and a framed attic for an additional bedroom/bath. The house is rented on a 1-year lease at $1,875 per month. The property has recently received over $136,000 in upgrades and improvements, and has been well maintained. Each private room rental is rented for seven days or longer, with many stays that are 6-9 months. The property is provided furnished to residents. Excellent potential for a combination of STR and MTR to maximize gross rents. Since the property is located near a ski resort and the destination town of Gettysburg, this provides consistent bookings year-round with ski traffic filling the winter months and tourism traffic during the warmer months. Potential option to build more units - with 2.59 acres of land, there is plenty of open land that can be built upon to add more units. The current use as rentals is pre-existing non-conforming, so clients should check with the township to verify opportunities. Potential to subdivide off the house to sell separately. The house has an estimated value of $300,000. This may require a township variance. Perfect option for an owner/operator complex to live in the house while rental income pays for your home and even more.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

11

PRICE/UNIT

$77,273

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fairfield Lodge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

13

LAND DETAILS

LAND ACRES

2.24 AC

LAND SF

97,574 SF

ZONING

R3

APN/PARCEL ID

18-C16-0018-000

ASK ABOUT THIS PROPERTY

Naomi BrownClear MultifamilyMore Info
717-819-2825

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Naomi BrownClear MultifamilyMore Info
717-819-2825

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.