RiverWood Apartments 128-130 Wood St

52 Unit Apartment Building $1,400,000 ($26,923/Unit) 9.28% Cap Rate California, PA 15419

INVESTMENT HIGHLIGHTS

  • Two blocks from college campus

EXECUTIVE SUMMARY

OWNER FINANCING AVAILABLE. An 18 spot parking lot is included in the sale. If you’re looking to add doors to your portfolio, this is the property for you…welcome to 128 Wood Street. This 52 unit apartment complex has a mixture of studio, one, two, three, & four bedroom apartments (74 beds). The building is just blocks away from PennWest California (Formerly CalU). But don’t just think student housing because you're minutes to all the businesses in California Technology Park, and Rt 43 & I-70 to get anywhere! In addition to the apartments there is a 1600+ sq ft commercial space that used to be Quiznos Subs. You'll also find a small, on-site, gym for residence, a coin operated laundry for additional income, and a large basement with untapped potential for additional tenant storage to create even more income potential. The building has gone through a lot of recent renovations, inside & out. Safety features like sprinklers, security cameras, & fire alarms are already in place. There is also an 18 spot parking lot included in the sale. Owner Financing Possible (up to 45%).

PROPERTY FACTS

Price $1,400,000
Price Per Unit $26,923
Sale Type Investment
Cap Rate 9.28%
No. Units 52
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Multifamily Dormitory
Apartment Style Mid Rise
Building Class C
Lot Size 0.30 AC
Building Size 26,877 SF
Average Occupancy 80%
No. Stories 3
Year Built/Renovated 1901/2021
Parking Ratio 0.67/1,000 SF

UNIT AMENITIES

  • Microwave
  • Heating
  • Kitchen
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Freezer

SITE AMENITIES

  • 24 Hour Access
  • Fitness Center
  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 24 - 375
1+1 11 - 450
2+2 13 - 650
3+2 3 - 850
4+2 1 - 1,050
Walk Score®
Very Walkable (82)

PROPERTY TAXES

ZONING

Zoning Code CC
  • Listing ID: 31249357

  • Date on Market: 3/18/2024

  • Last Updated:

  • Address: 128-130 Wood St, California, PA 15419