0 Pacific AveMilroy, PA 17063

  • Investment properties
  • 19.24 AC
For Sale
$4,500,000 View listing

Property Details for 0 Pacific Ave

Lot size
19.24 AC
Property type
Investment properties
Property subtype
Multifamily properties

Description

Exceptional investment opportunity in Milroy, Pennsylvania's Shalamar Gardens. This 19.24-acre multifamily property boasts a compelling 6.00% cap rate and a $4,500,000 asking price. The portfolio currently includes 19 income-producing rental units constructed between 2018 and 2021, generating $25,000 in monthly rental income. Six units feature garages, with two also including basements. Eight additional units are rented, though they lack garages. The property's strategic location near State College and Harrisburg, with convenient access to Route 322, enhances its desirability. Beyond the existing rental units, the development plan encompasses 137 individual lots, with over 100 available for future development. 26 lots are fully prepared for construction, complete with necessary infrastructure, including water and sewer connections in some cases. The existing units are individually deeded, offering flexibility for separate sales, rather than condominium restrictions. This presents a unique opportunity to capitalize on existing rental income while simultaneously developing the remaining lots to maximize returns. The property is zoned residential and includes associated roadways, utilities, and stormwater management facilities. Post-development, the roadways will be dedicated to the township, with a homeowners association responsible for stormwater management. This is a rare chance to acquire a substantial, high-yield multifamily portfolio with significant future development potential.

Pacific Ave, Milroy, Pennsylvania

Location Insight

City
Milroy
County
Mifflin
State
Pennsylvania
Latitude
40.7397
Longitude
-77.4931

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].