87 Milanville Rd - Hospitality FOR SALE


Beach Lake, PA 18405
$899,000 USD
570-351-5242
87 Milanville Rd, Beach Lake, PA for Sale
$899,000 USD
Hospitality - FOR SALE
1/12
null | 10.53% Cap Rate

87 Milanville Rd
Beach Lake, PA 18405


HIGHLIGHTS

  • Owner Finance financing Option
  • Cash flowing property with room for growth
  • Opportunity to choose to do a long term tenancy or operate as a hotel

OVERVIEW

7-unit mixed use apartment building for sale including 6 efficiency apartments and one 3 beds, 1 bath apartment. Historic bar/restaurant on site with liquor license on 1st floor which could be converted to additional units, continue operations as a turnkey bar/restaurant with a full kitchen, wedding venue, etc. Very close proximity to Bethel Woods, Big Bear Ski Lodge, the Delaware river, and other attractions in the Poconos making it attractive for year-round tourism. No zoning in Berlin Township makes that the large lot size suggests room for further unrestricted development of the grounds. Each of the furnished units are fully occupied on a month-to-month basis without leases in place paying $1,000 per month. Owner occupies the 3-bed unit. Operating costs are roughly 15k per year (taxes are 7850, sewer 3k, insurance 2k). Brand new propane Furnace with 2 new electric water heaters. The property could also be used as a short-term rental. Located just five minutes from New York State and two-and-a-half-hours from New York City, NJ, and Philadelphia. Owner will be open to a short-term owner financing with minimum 375k down at a desirable 5% interest rate with balloon payment at end of term. Capitalize on the region's housing shortage and tourism draw the Poconos brings and this could be a cash cow to add to your portfolio.

FOR SALE DETAILS

PRICE

$899,000 USD

PRICE/SF

$132 USD /SF

# OF ROOMS

7

PRICE/ROOM

$128,429 {currency}

CAP RATE

10.53%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1830

PARKING SPACES

38

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

Commercial

APN/PARCEL ID

000115

ASK ABOUT THIS PROPERTY

Alexander SchwartzRE/MAX of Cherry HillMore Info
570-351-5242

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Alexander SchwartzRE/MAX of Cherry HillMore Info
570-351-5242

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