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Six unit townhome property located in Dover, PA. Property is located directly across the street from Lehr Park / Dover Area Community Center which features a playground, library, walking/ fit trail, and ball fields. Minutes from Walmart and the West Manchester Shopping Center. Each of the six townhomes features two bedrooms, one bathroom, and a basement with washer and dryer hookups, making them highly functional and desirable for residents. All units come with private decks, offering outdoor space. The property underwent a complete rehab in 2021, which included modernized kitchen cabinets, sinks, appliances, flooring, and paint, along with updated bathrooms featuring new vanities, mirrors, and fixtures. Additionally, the parking lot was blacktopped in 2021, adding convenience and appeal for residents. All utilities are public. Water / Sewer / Trash bills are sent to the landlord, the landlord then bills back the tenants. The net operating income (NOI) is $77,342.99 (Assuming a 7% management fee and using actual profit / loss numbers from 12/1/23 to 11/30/24.). Being sold at a 7.77% cap rate. Tenants pay for all their utilities (water, sewer, trash, electric). Additionally, this property shares a parking lot with another six-unit townhome complex, which is not owned by the same seller. Should that neighboring property become available in the future, it presents a potential opportunity to expand your portfolio with an additional six units. Don't miss the chance to make it yours!
Property Type(s):
Commercial
| Last Updated | 1/8/2025 | Year Built | 1984 |
|---|---|---|---|
| Community | Dover Twp (15224) | County | YORK |
Price History
| Prior to Jan 8, '25 | $1,120,000 |
|---|---|
| Jan 8, '25 - Today | $995,000 |
Additional Details
| APPLIANCES | Electric Water Heater |
|---|---|
| AREA | Dover Twp (15224) |
| CONSTRUCTION | Brick, Vinyl Siding |
| HEAT | Baseboard, Electric |
| LOT | 0.56 acre(s) |
| SEWER | Public Sewer |
| TAXES | 10500 |
| WATER | Public |
Location
Listing provided by Iron Valley Real Estate of York County
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Data last updated: 1/10/25 7:24 AM PST
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