$84.06 Per Sq Foot $6,442 est/mo Sourced by Back At You

31 S Main St,Manheim, PA 17545

Manheim PA, 17545

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Description

Amazing investment opportunity in the heart of Manheim! Ability to rent out 28 to 30 units with 10-11% Cap Rate (including fix up cost & debt service).....Formally known as the Summy House, this historic property is comprised of two separate buildings on one parcel. The front building along Rt. 72 features 1 apartment in the basement, 3 commercial spaces on the 1st floor (formally the Sink Restaurant & Bar) and 2 office/studio spaces, the 2nd and 3rd floor was used as a residential boarding house with 19 bedrooms, 3 bathrooms, and 2 kitchens. In addition, a separate apartment built on rear of main building and an additional fully occupied 5-unit apartment building that sits along Wolf St. This is 1 of 2 boarding houses that owners have in Manheim. (See pro-forma of Washington House currently filled) These buildings have been cash cows for them with waiting lists to fill any vacancies. Main building is currently condemned from a fire and needs repaired before renting again to all units. Structural fire damage is contained to 2-3 bedrooms and some smoke damage throughout other parts of 1st and 2nd floor. The 1st floor and 3rd floor was virtually unaffected except for smoke smell. Rear parking lot has 15 parking spaces, with 2 additional spaces in front of the 5-unit building, for a total of 17 spaces. See supporting docs for repair costs, financial analysis, building layouts.....this will not last long, schedule your showing today!

Details

MLS#PALA2049778
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1876
Days On Site83
Listing Provided ByColdwell Banker Realty | David A Wissler
Buying Commision2.5% Of Gross

Features

SQ Feet14,276
ZoningCENTRAL BUS
Acreage0.33

Market Activity 17545

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Learn More About This Property

StatePA
CountyLancaster
CityManheim
Zip Code17545
AreaManheim Boro
Community NameManheim
School DistrictManheim Central
Middle SchoolManheim Central
High SchoolManheim Central
Listing VS Median (in Manheim)
Price:
$1,200,000
low | high
Med:
$782,450
84.795833333333% of Average
SqFt:
14,276
low | high
Med:
8,209
92.497898571028% of Average
$ / SqFt:
$84
low | high
Med:
$127
2% of Average
On Site:
83
low | high
Med:
65.000000
100% of Average
Sourced by Back At You
Listing Updated: July 10, 2024 at 11:05:54 PM PDT
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