250 State StNewtown, PA 18940

Property Details for 250 State St

Year built

1935

Property size (Sq ft)

3,391 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional five-unit apartment building, located at 250 S State St in desirable Newtown Borough, Pennsylvania (zip code 18940), presents a compelling investment opportunity. The 3,391 square foot building, constructed in 1935 and extensively renovated in 2017, boasts 100% occupancy, generating a strong net operating income (NOI) of $76,818 and a 5.98% cap rate. Each unit is a spacious one-bedroom apartment featuring updated kitchens and bathrooms in four of the five units. All units benefit from upgraded HVAC systems, hot water heaters, and refinished hardwood floors. The 2017 renovation also included significant upgrades to the lower level, creating dedicated storage space, a laundry facility, new furnaces, electrical panels, and modern hot water systems. Common areas have been refreshed with new carpeting, tiling, lighting, and a fresh coat of paint. The property also includes a detached barn, sold "as is." This well-maintained property offers excellent curb appeal and is conveniently located near I-95, Route 1, and the Pennsylvania Turnpike. The property is zoned VC and benefits from a strong rental history, ensuring a stable cash flow for the investor. The asking price is $1,285,000.

Location Insight

City

Newtown

County

Bucks

State

Pennsylvania

Latitude

40.2248

Longitude

-74.9366

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