Solid brick 6 unit apartment building for sale in Derry PA. 5 units are 2 bedrooms and 1 is an efficiency. All electric building and tenants pay the electric. Newer roof, off street parking, nice units, this is a beauty. $199,000, we can do 2 year Owner Financing with a down payment. Please email PaOptions@gmail.com for questions, and showings.
The rent rolls are 4 rented at $425 a month and 1 of the 2br and vacancy at this time and the efficiency is vacant. The efficiency needs a little work done to it. Just a few small holes in the walls from fixing a sewer line. The building is SOLID brick with a newer roof. The basement is completely dry. The mechanics are good. Off street parking. The 2 bedrooms ( 5 of them) could be $500 a month. There is no P&L from last year due to having all the tenants being thrown out of the building and starting over with a new group of tenants... The building is all electric and the tenants pay their own electric. The average common area electric is $36.42 a month. The average water and sewer is $191.75 a month. Taxes are $5,573 a year. The garbage is around $88 a month.
Proforma GAI is $34,800
Expenses -$9,367
----------- NOI $25,433 With cap rates in the Pittsburgh area now around 8.5%. The property is worth $299,211.75 **Note... We did NOT factor insurance in the expenses due to the difference in policies and coverage desired by owners.
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