28 unit medium sized apartment building, fully occupied,located in Lansdowne Pa. The property has 6-2 bedroom units, 20-1 bedroom units and 2 efficiencies. The annual operating cost for this property(including taxes, annual insurance, trash removal,heat, hot water, utilities and the fire system) are 60,100. The total annual rent receipts are 230,532. 230,532 minus 60,100 =170,432 NOI. The tenants pay their own utilities. The asking price is 2,000,000. However, although the price was recently reduced by 200,000, the price is still very much negotiable. BRING YOUR BEST OFFER. You might be surprised. The cap rate will be around 14% depending on the final sales price. Email me at kmack300@netzero.net. Rent rolls and other pertinent financial information will be provide upon request, more photos too.
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