For Sale
$1,000,000

129 Main StKutztown, PA 19530

9-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use property in Kutztown, PA, presents a compelling investment opportunity. The 13,265 square foot building, constructed in 1891, boasts nine units: six three-bedroom and two two-bedroom apartments, plus a commercial space currently occupied by a long-standing restaurant. The property sits on a 5,227 square foot lot at a prominent corner location on West Main and Greenwich Streets, offering excellent visibility and walkability to downtown amenities. The building features a brick exterior and a flat rubber membrane roof. Currently, tenants are responsible for electricity, while the owner covers heat, hot water, and cold water; a new owner could implement a utility billback system. On-site laundry facilities add convenience. The property's location near Kutztown University provides consistent demand, with approximately 50% of students seeking off-campus housing. Below-market rents offer significant value-add potential, contributing to a strong pro-forma cap rate of 8.82%. Easy access to major roadways, including Route 222 and Interstates 78 and 476, enhances its appeal. The asking price is $1,000,000, representing a current cap rate of 7.72%. This is a rare opportunity to acquire a well-located, income-producing asset with substantial upside potential in a thriving college town. The property's strong location, combined with the potential for rent increases, makes this an attractive investment for those seeking a stable and growing income stream. The building is a three-story structure with one building on the lot. The property's APN is 55-5443-08-87-4756.

Highlights

  • Prime downtown Kutztown location, walkable to shops and restaurants.
  • Corner lot with high visibility on West Main and Greenwich Streets.
  • Value-add opportunity with below-market rents and significant upside potential.
  • Excellent access to major roadways: Route 222, I-78, and I-476.
  • Limited new student housing development creates strong rental demand.

Property Details for 129 Main St

Property type
Retail properties, Mixed-use properties
Square Feet
13,265 SF
Class
C
Year Built
1891
Buildings
1
Stories
3
Units
9

Location Insight

City
Kutztown
County
Berks
State
Pennsylvania
Latitude
40.5182812
Longitude
-75.7768498
129 Main St, Kutztown, Pennsylvania

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129 Main St
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