30 High StCarlisle, PA 17013

Property Details for 30 High St

Lot size

0.14 AC

Property size (Sq ft)

10,838 SF

Property type

Retail space

APN

04-21-0320-032

APU

4210320032

Description

This exceptional value-add opportunity presents a three-story, nine-unit apartment building located in the heart of Carlisle, Pennsylvania's historic district at 30 W High St, 17013. Built in 1776, this Fee Simple owned property boasts approximately 6,500 to 7,800 square feet and offers a compelling 12% capitalization rate. Currently, seven units are available for lease, comprising four two-bedroom, one-bathroom apartments and two one-bedroom, one-bathroom apartments. Additionally, there's a commercial space with two bathrooms, currently occupied by a tattoo parlor, which the seller may lease back. The building features separately metered electric, with a heat pump for the main floor and independent electric heat in the remaining units. Most units are nearly ready for lease, with vacancies aside from the existing commercial tenant. Significant improvements have already been made, including most window replacements and roof repairs. The property benefits from its location within the historic district, making it eligible for grant funding for façade improvements. Fifteen off-street parking spaces are available, supplemented by a nearby parking garage. The asking price is $750,000, translating to approximately $83,333 per unit. A quote for $71,000 is available for completing remaining renovations, with an additional estimated $30,000-$40,000 needed for mini-split installations in each unit. The seller is open to considering seller financing. The property is zoned for General Commercial use. Detailed financial projections are available upon request.

Location Insight

City

Carlisle

County

Cumberland

State

Pennsylvania

Latitude

40.2012

Longitude

-77.1907

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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