10 E Main St Kutztown, PA – $675,000
Commercial Real Estate – Student Housing
KUTZTOWN STUDENT HOUSING –
KUTZTOWN STUDENT HOUSING – Incredible opportunity to purchase a well maintained 4 unit building just minutes from Kutztown University. 7.14% Cap Rate. 12.21% Cash on Cash Return. Property consists of four apartments licensed for 11 students with 11 individual bedrooms, common area, laundry room, off street parking for 13 cars and 3 oversized garage bays. All apartments have one full bath. 0ne 2 student apartment and three 3 student apartments. Landlord pays water, hot water, sewer, taxes, insurance, basement and laundry area electric. Tenants pay for electric, trash, cable and internet (all apartments are electric baseboard heat). 5 meters, one for each unit plus landlord meter. New improvements include new vinyl siding on building (2024) and new roofs on building and two garages(2024) water heater (2019)and $58k addition of two bedrooms to unit 4 apartment to increase total student permit from 9 to 11 bedrooms (2013). All appliances are included in the sale. Centrally located next to Turkey Hill and within walking distance to downtown dining & shopping. Great rental history. Additional rent from summer occupancy and garage rental.