State Towers Apartments | 632 E State St
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State Towers Apartments 632 E State St
52 Unit Apartment Building $2,500,000 ($48,077/Unit) 5.83% Cap Rate Sharon, PA 16146
Executive Summary
No cell tower income, previous owner sold the lease. Price will increase as rehab gets done.
?? **Prime Investment Opportunity in Sharon, PA!** OWNER FINACING AVAILBLE @5%
The property was under bad management and is now vacant. It needs cleaned out and fix some code violations which were mainly co2 detectors and smoke detectors. Overall the building it self is in good shape. Any questions feel free to reach out.
Unlock the potential of real estate investment with this exceptional 52-unit apartment building, strategically located in Sharon, PA. Offering a blend of affordability and potential, this property presents an unparalleled opportunity for investors.
?? **Key Features:**
- **52 Units:** Diverse range of units ensuring steady rental income.
- **Easy Clean-Up:** Minimal effort needed for rejuvenation, maximizing returns quickly.
- **Swift Code Resolution:** Resolve code violations inexpensively and swiftly, enhancing property value.
- **Owner Financing:** 50% down payment option available, making ownership accessible.
- **Priced to Sell:** At just $35,000 per unit, this property is priced to move!
?? **Investment Highlights:**
- **Proforma Analysis:** Based on an 80% occupancy rate and $835 monthly rent per unit, achieve an 8% cap rate.
- **Adjusted Operating Expenses:** Set at 40% to provide a conservative estimate of property value.
- **Estimated Property Value:** With operating expenses at 30%, property value stands north of 3 million
?? **Prime Location:**
Located in Sharon, PA, this property enjoys proximity to amenities, schools, and transportation options, ensuring high demand from tenants seeking convenience and comfort.
Don't miss out on this golden opportunity to secure a lucrative investment in Sharon, PA. Contact us today to schedule a viewing and take the first step towards building your real estate empire!
?? **Prime Investment Opportunity in Sharon, PA!** OWNER FINACING AVAILBLE @5%
The property was under bad management and is now vacant. It needs cleaned out and fix some code violations which were mainly co2 detectors and smoke detectors. Overall the building it self is in good shape. Any questions feel free to reach out.
Unlock the potential of real estate investment with this exceptional 52-unit apartment building, strategically located in Sharon, PA. Offering a blend of affordability and potential, this property presents an unparalleled opportunity for investors.
?? **Key Features:**
- **52 Units:** Diverse range of units ensuring steady rental income.
- **Easy Clean-Up:** Minimal effort needed for rejuvenation, maximizing returns quickly.
- **Swift Code Resolution:** Resolve code violations inexpensively and swiftly, enhancing property value.
- **Owner Financing:** 50% down payment option available, making ownership accessible.
- **Priced to Sell:** At just $35,000 per unit, this property is priced to move!
?? **Investment Highlights:**
- **Proforma Analysis:** Based on an 80% occupancy rate and $835 monthly rent per unit, achieve an 8% cap rate.
- **Adjusted Operating Expenses:** Set at 40% to provide a conservative estimate of property value.
- **Estimated Property Value:** With operating expenses at 30%, property value stands north of 3 million
?? **Prime Location:**
Located in Sharon, PA, this property enjoys proximity to amenities, schools, and transportation options, ensuring high demand from tenants seeking convenience and comfort.
Don't miss out on this golden opportunity to secure a lucrative investment in Sharon, PA. Contact us today to schedule a viewing and take the first step towards building your real estate empire!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Amenities
- Air Conditioning
- Heating
- Recreation Room
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 45 | - | 400 |
| 2+1 | 7 | - | 650 - 750 |
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PROPERTY TAXES
| Parcel Number | 71-29920 | Total Assessment | $218,400 |
| Land Assessment | $30,600 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $187,800 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
71-29920
Land Assessment
$30,600
Improvements Assessment
$187,800
Total Assessment
$218,400
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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State Towers Apartments | 632 E State St
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