100 Berlin MnrBerlin, PA 15530
- Apartment buildings
Property Details for 100 Berlin Mnr
- Year built
- 1992
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity encompasses two well-maintained apartment buildings in Berlin, Pennsylvania, totaling 66 units. Strategically located in Somerset County, this property boasts a remarkable 96% average occupancy rate, generating a substantial net operating income (NOI) of $167,000 and a compelling 5.57% cap rate. The asking price is $3,000,000, translating to an attractive price per unit of $45,454.55. Built in 1992, both buildings feature elevators (annually inspected) and comprehensive sprinkler systems, ensuring safety and peace of mind. On-site management and maintenance are in place, simplifying operations. The buildings offer a mix of tenants, including many long-term residents participating in the USDA housing voucher program, although it's not exclusively a senior living community. Conveniently situated less than two hours from Pittsburgh and Hagerstown, MD, and under an hour from Cumberland, MD, this property presents an ideal investment opportunity with strong cash flow and significant upside potential. Recent rent increases further enhance the property's profitability. Each building has its own elevator. One building contains 32 units, and the other has 34 units.
Location Insight
- City
- Berlin
- County
- Somerset
- State
- Pennsylvania
- Latitude
- 39.9181
- Longitude
- -78.9542
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