347 S George Street York, PA 17401
Investors! Don’t miss this “as is” 6 unit property - a rare find in today’s world yearning for stability and positive cash flow! This property has had some recent updates, 5 completed units - 3 of which are rented, and a secure multi-car garage unit with an automatic garage door opener, a security system, additional off street secure parking for multiple cars outside and even more off street parking beyond that! The garage unit has plenty of space to be a 6th 2 bedroom apartment - just hire your contractor to work within the shell of this space! The rear 1st floor unit even includes a fully functioning recording sound studio and 2 full baths! Every unit except the garage includes a refrigerator and a stove. This 6, 277 Sq Ft 6 unit building is a cash cow - tenants pay all utilities. This building has 4 separate gas meters and 5 separate electric meters. Attention: this building is being sold “as is”. This is an estate sale. The MLS system is lacking in it’s functionality in relation to multi-unit properties. This 6 unit, ‘as is’ estate sale has 4 code approved units. Please ask your Realtor® to provide you all docs uploaded to the MLS “associated docs folder” including a very helpful dossier and an Income and Expense Statement showing a cap rate of 12.25% for this cash generating property. MASSIVE CASH FLOW! This property has a total of $61, 140 of rents per year which equals $5, 095 per month in rent. The Total annual expenses are $15, 046. There is a net operating income of $46, 094. All together this gives the new owner of this property at a $359, 900 sales price a cap rate of 12.25%! This is fantastic cash flow and gives you plenty of funds to make updates every year to increase the rents even more over time! This property presently has 3 units occupied - all tenants would like to stay. 3 units are vacant but owner reserves the right to rent units prior to settlement. 347 S George St 1st Floor Front: Unit includes stove & refrigerator. Projected rent as per owner $1, 100. Recently remodeled unit. New flooring, new electric stove, new drywall ceiling, freshly painted ceilings, trim, walls & flooring. This unit has hot water radiator gas fueled heat, a brand new electric smooth top stove for cooking and a gas fueled water heater. 347 S. George St 1st Floor Rear: Unit includes stove & refrigerator, washer, dryer. Projected rent $750. This unit has access to the unfinished basement. This unit has 2 full baths - one of them is off the fully functioning sound proof recording studio! 347 S George St 2nd Flr Front: Unit includes stove, refrigerator & microwave. 347 S George St 2nd Flr Rear: Unit includes stove & refrigerator. 347 S George St 3rd Flr: Unit includes stove & refrigerator. 347 S. George St 1st Floor Garage: Projected rent $800. This large tanden garage has off street secure parking, auto garage door opener, alarm system, separate electric & could be modified to have a full bath, 1 bedroom & a kitchen making this a 6 unit apartment building!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyYork
- Taxes$3,983
- HOA/Condo/Coop Fees$0
- Days on Site20 Days
- MLS StatusActive
- MLS ID NumberPAYK2059440
- Home Size Source Estimated
- Year Built1900
- Lot Size0.12 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Unit/ Flat
- Construction Brick
- Parking Paved ParkingSecure ParkingAlleyAttached GarageDrivewayOff StreetOn StreetParking Lot
- Sewer Public Sewer
- Electric 100 Amp Service200+ Amp Service
- Basement DrainFullInterior AccessPoured ConcreteShelvingSump PumpUnfinished
- Number of Stories 3
- Acreage 0.12
- Water Public
- Security Smoke DetectorSecurity GateWindow Grills
- Cross Street E. South Street
- Garage Spaces 2
- Attached Garage Yes
- Utilities Natural Gas AvailablePhone AvailableSewer AvailableWater Available
- Foundation Stone
- Zoning RESIDENTIAL
Interior Features
- Cooling None
- Heating Baseboard - ElectricHot WaterRadiant
- Appliances Built- In MicrowaveDryerRefrigeratorStoveWasher
- Flooring HardwoodLaminate PlankLaminatedVinylTile/ Brick
- Interior Floor Plan - Traditional
- Window Features Double Hung
- Fireplace No
Exterior Features
- Roof Rubber
- View Street
- Spa No
- Waterfront Property No
- Exterior Exterior LightingFire EscapeSecure StorageSidewalksStreet Lights
- Lot InteriorLevelRoad Frontage
Community Features
- MLS Area York City (15201)
- Security Features Smoke DetectorSecurity GateWindow Grills