For Sale
$469,900

507 Ross AveNew Cumberland, PA 17070

Six-unit apartment building, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional value-add investment opportunity presents a fully occupied six-unit apartment building located at 507 Ross Ave, New Cumberland, Pennsylvania, 17070. The property boasts a strong current NOI of $35,965, translating to a 7.6% cap rate. The building comprises four structures: a main house featuring three units (two one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit), a bungalow with a single one-bedroom, one-bathroom unit, and two two-bedroom, one-bathroom units housed in mobile homes. Currently operating at 100% occupancy, this property offers immediate cash flow. Built in 1900, this property presents a significant opportunity for future value appreciation through potential renovations and property improvements. The asking price is $469,900, representing a compelling entry point into the New Cumberland multifamily market. Detailed financial statements, including income and expense reports, are readily available upon request. This fee-simple ownership provides complete control and potential for long-term growth. The property is situated in York County, offering convenient access to local amenities and transportation networks. Don't miss this chance to acquire a stable, income-generating asset with significant upside potential. Contact us today to schedule a showing and explore this lucrative investment opportunity further.

Highlights

  • $469,900 asking price for a value-add multifamily investment.
  • 7.6% cap rate, with potential for higher returns.
  • Six-unit apartment building with 100% occupancy.
  • $35,965 annual net operating income (NOI).
  • Property consists of four buildings, including a main house and mobile homes, built in 1900.
  • Fee simple ownership in New Cumberland, PA.

Property Details for 507 Ross Ave

Property type
Apartment buildings
Year Built
1900
Buildings
4
Units
6

Location Insight

City
New Cumberland
County
York
State
Pennsylvania
Latitude
40.2223824
Longitude
-76.8505348
507 Ross Ave, New Cumberland, Pennsylvania

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507 Ross Ave
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