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Kutztown,PA 19530
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 13,186 sqft
Price per Sqft $77
MLS Listing ID PABK2057252
Originating Board BRIGHT
Year Built 1890
Annual Tax Amount $11,154
Tax Year 2025
Lot Size 9,148 Sqft
Acres 0.21
Property Sub-Type Mixed Use
Property Description
Take advantage of this desirable location in the thriving Kutztown historic downtown area within walking distance to Kutztown University. Approved for both apartments and student rental uses. Purchase this package of two buildings on two parcels with 6 spacious residential and 2 commercial units. Nearly fully rented with 1 vacancy being filled. Five of the six residential units have been renovated by current owner, one of the commercial spaces was brought up to code, and the parking lot was paved and lined recently. Priced at a 7.6% CAP rate based on current rents and expenses. CAP rate increases to 8.6% (i.e. a higher return) with both the conversion of the furnace from oil to gas which reduces owner's expenses by over $5,000 annually and with increased rents at the planned turnovers in May and June. Call today to inquire about showings. Proof of funding required in order to show. 48 hours mandatory tenant notice period required by tenant leases.
Location
State PA
County Berks
Area Kutztown Boro (10255)
Zoning R/C
Interior
Hot Water Oil
Heating Baseboard - Hot Water,Baseboard - Electric
Cooling None
Flooring Laminate Plank
Inclusions All fridges and stoves in the apartments
Heat Source Oil,Natural Gas Available
Exterior
Garage Spaces 12.0
Water Access N
Street Surface Paved
Accessibility None
Road Frontage Boro/Township
Total Parking Spaces 12
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Kutztown Area
Others
Tax ID 55-5443-08-87-5520
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard