201 Millville RdBloomsburg, PA 17815

Property Details for 201 Millville Rd

Lot size

0.48 AC

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

05E,06--017-00,000

APU

05E0601700000

Description

This exceptional investment opportunity presents a well-maintained, 20-unit apartment building in Bloomsburg, Pennsylvania. Situated on a 0.79-acre lot, this stabilized property features two buildings, each two stories high, totaling 13,560 square feet. Built in 1934 and 1973, the complex boasts 100% occupancy with most leases extending through 2025. All 20 units are individually metered for electricity, heat, and water, minimizing owner expenses. Each unit includes a parking space, a highly desirable amenity. The property benefits from an online platform for streamlined payment processing and maintenance requests. Currently generating a Net Operating Income (NOI) of $152,790, resulting in an 8.99% cap rate and a price per unit of $85,000, this property offers a strong return on investment. The property is zoned HD (High-Density), allowing for flexibility in tenant selection, including residential or student tenants. Significant value-add potential exists through the conversion of five studio units into upgraded, potentially short-term rental units, mirroring the success of a similar conversion already yielding $1,200 monthly. Additional revenue streams could be generated by installing shared laundry facilities. The current property manager is available for a three-month transition period at $1,000 per month. The property's location offers proximity to Bloomsburg University, Geisinger, Talen, a new Amazon data center, and numerous walking/biking trails. This turnkey property presents a compelling investment opportunity with substantial upside potential. Asking price is $1,700,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,221,644

  6.5%

  $3,896,902

  7%

  $3,618,552

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,985,462

  Geo Method

  $4,269,792

• Alternative Use

  Use

  Valuation

  Residential

  $3,896,902

  Hospitality

  $3,569,541

  Educational

  $2,969,816

  Medical

  $3,071,953

  Retail

  $4,619,714

Location Insight

City

Bloomsburg

County

Columbia

State

Pennsylvania

Latitude

41.0093

Longitude

-76.4632

CBSA code

14100

CBSA name

BLOOMSBURG-BERWICK, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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