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Prime investment opportunity at 22 N State St! This mixed-use commercial property offers immediate income potential and significant value-add opportunities. The first floor is leased to a long-term tenant at $2,500/month, with an additional newly approved commercial space in the lower level (separate entrance) projected to rent for $900-$1,000/month. Four residential units on the upper floors, each with private entrances, generate a total of $6,850/month (Units 1 & 2 at $1,850 each with recent increases, and Units 3 & 4 at $1,650 and $1,500, both month-to-month with room for rent adjustments). The 14-space parking lot serves tenants and commercial use, with one space currently rented for $50/month and potential for more. Recent upgrades include a fully replaced roof (2 years), and updates to electrical, plumbing, security and fire systems, and exterior (all within 3 years). The property is currently at a 9% CAP rate and 10.6% cash-on-cash return, with the potential to exceed a 11% CAP rate and 17% cash-on-cash return with market rent adjustments. Don't miss this high-performing asset"”contact us today for detailed financials and a private tour!
Property Type(s):
Commercial
| Last Updated | 12/2/2024 | Year Built | 1910 |
|---|---|---|---|
| Community | York City (15201) | County | YORK |
Additional Details
| AIR | Central Air, Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | York City (15201) |
| CONSTRUCTION | Brick |
| HEAT | Baseboard, Electric, Forced Air, Natural Gas |
| LOT | 1742 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| TAXES | 2369 |
| WATER | Public |
Location
Listing provided by Inch & Co. Real Estate, LLC
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Data last updated: 1/10/25 12:16 AM PST
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