Price Reduction - Views
Address
347 S George Street, York, PA
Price
$ 359,900
Property Attributes
- MLS#PAYK2059440
- TypeMulti-Family
- CountyYORK
- CityYork
- AreaYork City
- Zip17401
- StyleUnit/Flat
- Year Built1900
- Taxes$ 3983
- Price$ 359,900
- Bedrooms6
- Full Bathrooms0
- Half Bathrooms0
- Lot Size5,227 SqFt
Data Source:
Bright MLS
Property Description
Investors! Dont miss this as is 6 unit property - a rare find in todays 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 its 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!
| Price History | |
|---|---|
| 4/13/2024 | Listed $369,900 |
| 4/22/2024 | 3% - $359,900 |
General Features
| Interior Features | Floor Plan - Traditional |
|---|---|
| Sewer | Public Sewer |
| Heating | Baseboard - Electric,Hot Water,Radiant |
| Cooling | None |
| Utilities | Cable TV,Cable TV Available,Electric Available,Natural Gas Available,Phone,Phone Available,Sewer Available,Water Available |
| Possession | Negotiable,Settlement |
| Roof | Rubber |
| Appliances | Built-In Microwave,Dryer,Refrigerator,Stove,Washer |
| Exterior Features | Exterior Lighting,Fire Escape,Secure Storage,Sidewalks,Street Lights |
| Zoning | RESIDENTIAL |
| Garage Spaces | 2.00 |
| Pool Y/N | No Pool |
| Architectural Style | Unit/Flat |
| Security Features | Smoke Detector,Security Gate,Window Grills |
| Construction Materials | Brick |
| Exclusions | Tenant's personal property |
| Year Built | 1900 |
| Electric | 100 Amp Service,200+ Amp Service |
| View | Street |
| Property SubType | Other |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | None |
| OwnerPays | Common Area Maintenance,Insurance,Management,Pest Control,Repairs,Sewer,Sewer Maintenance,Taxes - Real Estate,Trash Collection,Water |
| Accessibility | None |
| County | YORK |
| Net Operating Income | 46094.00 |
| Operating Expense | 15046.00 |
| Insurance Expense | 750.00 |
| New Construction | No |
| Property Type | Multi-Family |
| Garage Y/N | Yes |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | Take North George Street heading north towards york City to property on your R. |
| ModificationTimestamp | 2024-04-22T14:57:40 |
| City | YORK |
| Buyer Agent Compensation | 3 |
| Total Units | 4 |
| MLS Area | York City (15201) |
| Lot Size Square Feet | 5040.00 |
| Tax Assessed Value | 63600.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 6 |
| Street Name | GEORGE |
| Tax Annual Amount | 3983.0 |
| Property Condition | Average,Below Average |
| Trash Expense | 3000.00 |
| Two Bedroom | 1 |
| Structure Type | Interior Row/Townhouse |
| One Bedroom Units Count | 4 |
| NumberOfUnitsVacant | 3 |
| Price Per Sq Ft | 57.34 |
| Acceptable Financing | Cash,Conventional |
| Avg. Electric Per Month | 80.0 |
| Historic Y/N | No |
| Rent Control Y/N | No |
| Vacation Rental Y/N | No |
| Avg. Water Per Month | 180.0 |
| Total SQFT | 9877 |
| Days on Market | 10 |
| Location Type | Middle Of Block |
| Lease Type | Long Term,Month to Month |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 0010 |
| Total Actual Rent | 61140.00 |
| Cap Rate | 12.46 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | None |
|---|---|
| Basement | Drain,Full,Interior Access,Poured Concrete,Shelving,Sump Pump,Unfinished |
| Flooring | Hardwood,Laminate Plank,Laminated,Vinyl,Tile/Brick |
| Hot Water | Electric,Natural Gas |
| Total Stories | 3 |
| Furnished Units | None |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Window Features | Double Hung |
| Fireplace Y/N | No |
| Street Suffix | STREET |
| Central Air Y/N | No |
| LivingAreaSource | Estimated |
Exterior Features
| Parking Features | Paved Parking,Secure Parking |
|---|---|
| Lot Features | Interior,Level,Road Frontage |
| Water Source | Public |
| Inclusions | 5 Stoves,5 Refrigerators,2 microwaves,1 washer,1 dryer |
| Total Parking Spaces | 22 |
| Garage Features | Garage - Rear Entry,Garage Door Opener,Inside Access,Oversized |
| Type of Parking | Alley,Attached Garage,Driveway,Off Street,On Street,Parking Lot |
| Land Use Code | 201 |
| Foundation Details | Stone |
| Water View Y/N | No |
| Lot Size Acres | 0.12 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Road Responsibility | Boro/Township |
| Land Assessed Value | 0.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| # of Attached Garage Spaces | 2 |
| Off Street - # of Spaces | 10 |
| Parking Lot - # of Spaces | 6 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 17401
Price
Taxes
Visits
Year Built
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