mixed use building in Pottstown with parking lot 76 N Charlotte St Pottstown, PA 19464, USA
Property Detail
Type
Conmercial/mixed-use properties, Multi- Unit Properties Status
Sold Location
Pottstown
Price
$283,900
Property Description
Income producing mixed use building with value add potential. Comes with separately deeded 4200 sq ft parking for 18-20 cars (314 Chestnut St. Pottstown). Building features total of 6500 sq ft.
Current Rents ($32,400 gross rents)
- Commercial; New Beginnings Church $1200.00 per month Tenant pays Heat, Electris HW. Landlord pays Sewer, Water, Trash. Tenant has been there for 18 years, and rent has stayed the same for the last 10 years. On a month-to-month Lease.
- 2nd floor 2 Br Apartment $925.00 per month. Tenant pays Electric, Landlord pays Heat, Water Sewer Trash. Tenant has been there for 8 years and is on a month-to-month lease.
- 3rd floor Efficiency Apartment $575.00 per month, Tenant Pays Electric, Landlord pays Heat, Sewer, Water, Trash. Tenant has been there for 8 years and is on a month-to-month lease.
- 2nd floor rear (approximately 1500 sq ft)- vacant
Rents are low for the area and need to be increased for building potentially bringing $60,000/year
Market Rents ($60,000 annually)
- Efficiency $750/mo
- 2bdr apartment $1250/mo
- Commercial #1 $1800/mo
- Commerical #2 $1200/mo
Expenses Yearly ($14,615)Taxes – $7700.00
Insurance – $1500.00
Utilities – (Water, Sewer, Trash, electric, Oil) $5415.00
Insurance – $1500.00
Utilities – (Water, Sewer, Trash, electric, Oil) $5415.00
Units go through a Borough Inspection every 2 years.
