51 E. 4th Street | 51 E 4th St
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51 E. 4th Street 51 E 4th St
4 Unit Apartment Building $229,000 ($57,250/Unit) 12.52% Cap Rate Emporium, PA 15834
Investment Highlights
- Long term tenants
- Centrally located
- Consistently maintained
Executive Summary
Commercial investment property includes 4 units total with long term tenants in each. First floor is currently a restaurant, 2 apartments on the second floor, and 1 large apartment on the third floor. Consistently rented, currently with long-term tenants. Restaurant has new tenants (April 2023) with a 3-year lease. Building has been consistently maintained and has a great location for future potential and alternate uses. SALE DOES NOT INCLUDE BUSINESS but does include most restaurant equipment and furnishings. Additional photos and Building Inspection available at request. Seller financing available with a sizeable (30-50%) down payment. Building has been consistently maintained and leased. Restaurant lease is $1400/month until April 2024, where it increases to $1500. The 3 apartment rents are $575, $685, & $757 per month, and include all utilities ( gas, electric, water, garbage, sewage). The rents are typical for this rural area, but could be adjusted accordingly.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$37,404
|
$4.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$37,404
|
$4.40
|
| Taxes |
$5,302
|
$0.62
|
| Operating Expenses |
$10,512
|
$1.24
|
| Total Expenses |
$15,814
|
$1.86
|
| Net Operating Income |
$21,590
|
$2.54
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $37,404 |
| Annual Per SF | $4.40 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $37,404 |
| Annual Per SF | $4.40 |
| Taxes | |
|---|---|
| Annual | $5,302 |
| Annual Per SF | $0.62 |
| Operating Expenses | |
|---|---|
| Annual | $10,512 |
| Annual Per SF | $1.24 |
| Total Expenses | |
|---|---|
| Annual | $15,814 |
| Annual Per SF | $1.86 |
| Net Operating Income | |
|---|---|
| Annual | $21,590 |
| Annual Per SF | $2.54 |
Property Facts
| Price | $229,000 | Building Class | C |
| Price Per Unit | $57,250 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 8,500 SF |
| Cap Rate | 12.52% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2000 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $229,000 |
| Price Per Unit | $57,250 |
| Sale Type | Investment |
| Cap Rate | 12.52% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 8,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2000 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $757.00 | 2,500 |
| 1+1 | 1 | $575.00 | 1,000 |
| 2+1 | 1 | $685.00 | 1,500 |
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zoning
| Zoning Code | C2 (Commercial District) |
| C2 (Commercial District) |
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51 E. 4th Street | 51 E 4th St
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