Multi-Unit Investment Opportunity | 11 Units on 2.7 Acres | Spring Grove, PA Property Address: 862 Iron Ridge Rd, Spring Grove, PA 17362 Offered by: Ginny L. Reichart Realty, Inc. Gross Annual Rent: $117,240 Zoning: Residential & Commercial Parcel #: 3800672089000000 Flood Zone: Zone X (Not in Flood Zone) Property Overview: Welcome to 862 Iron Ridge Rd, a well-maintained and income-producing 11-unit multifamily property situated on a scenic 2.7-acre rural lot in Spring Grove, PA. This unique investment includes three residential buildings and a laundry facility, offering a mix of one- and two-bedroom units with long-term tenants and recent renovations. The property features a fully re-paved asphalt driveway and parking area (2022), separate electric meters for 8 of 11 units, and electric baseboard heating throughout. Two private wells and three septic systems (serviced regularly) support the property. A small stream runs through the center of the lot, adding to the serene, park-like setting. Investment Highlights 11-Unit Multifamily Property on 2.7 scenic acres Gross Annual Rent: $117,240 with ~10% upside ($12,468) based on current market rent estimates Recent Capital Improvements: Key upgrades include electrical improvements, new heating systems, and parking lot repaving (2022). Additionally, 37 windows were replaced between 2022 and 2024, bringing the property to 95% modern replacement windows. Three previous owner replaced modern-era wood windows were retained due to their solid condition and performance. Renovation Status: 9 of 11 units (82%) recently renovated; remaining units offer light value-add potential Additional Rent Upside: Estimated annual increase of $3,864 through remaining unit renovations and light value-add upgrades—potentially more if select units are converted to split heat pump systems for improved efficiency and tenant appeal Utility Structure: Separate electric meters for 8 units; minimal work needed to convert remaining 3 to tenant-paid electric On-Site Coin-Op Laundry Facility (Apartment L) Park-like Setting with mature trees and a small stream Owner’s Garage for maintenance, storage, and maintenance access Professionally Maintained Well & Septic Systems Zoned Residential & Commercial – future flexibility Not in a Flood Zone (Zone X) Strong Rental History with long-term tenants and recent renovations