320 Lincoln AveNew Castle, PA 16101

Property Details for 320 Lincoln Ave

Year built

1920

Lot size

0.40 AC

Property size (Sq ft)

10,000 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 12-unit apartment building at 320 East Lincoln Avenue in New Castle, Pennsylvania, presents a compelling investment opportunity. The property, built in 1920 and situated on a 0.4-acre lot, boasts 10,000 square feet of living space, offering a blend of classic charm and modern convenience. Currently, 58% of the units are occupied. The building features twelve one-bedroom apartments, five of which require minor rehabilitation, presenting a value-add potential for investors. The property is fully equipped with a fire sprinkler system and a convenient elevator, ensuring accessibility for all residents. Ample parking is available on-site. The asking price is $499,999, translating to $49,999.99 per unit and $70 per square foot. The property is zoned R2 and offers a strong potential for rental income. This multifamily residence is an ideal investment for those seeking a property with significant upside potential in a desirable location. The building's unique character, combined with its modern amenities and convenient location, makes it a truly attractive investment opportunity. The existing occupancy rate provides immediate cash flow, while the potential for renovation offers further returns. This property is a rare find in the New Castle market.

Location Insight

City

New Castle

County

Lawrence

State

Pennsylvania

Latitude

41.0053

Longitude

-80.3385

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