7 S 5th St Clearfield PA 16830
Income Producing and Fully Rented 4-unit!
Asking Price: $90,000
Images and all deal info courtesy of Launce Soult
Photos Links
*GIS Map and Floor Plans Included
Exterior and Basement
https://photos.app.goo.gl/h9t7UnWm4kvJf8Eu8
Unit 1 (1 Bed)
https://photos.app.goo.gl/kNxDvkqVduoamPi16
Unit 2 (1 Bed)
https://photos.app.goo.gl/rBqzk7max3hhf7U69
Unit 3 (2 Bed)
https://photos.app.goo.gl/asMiKhZE4Ko9QqjH7
Unit 4 (2 Bed)
https://photos.app.goo.gl/4fTNSvRiF73b9JQ87
1st floor apartments are 1 bed 1 bath
2nd floor apartments are 2 bed 1 bath
Buy & Hold Overview
Current
- Gross Rents: $19,740
- Annual NOI: $12,240
- Cap Rate: 13.60% *Includes 10% for maintenance/vacancy and 10% for property management.
- Cash on Cash Return: 38.75% *Includes 10% for maintenance/vacancy and 10% for property management.
Projected
- Gross Rents: $39,600
- Annual NOI: $28,128
- Cap Rate: 21.64% *Includes 10% for maintenance/vacancy and 10% for property management.
- Cash on Cash Return: 66.30% *Includes 10% for maintenance/vacancy and 10% for property management.
Highlights
- High Cash Flow Potential
- Month to Month Leases Currently
- All units rented
- Electric and heat are both split
Repairs Needed:
- Siding
- Roof
- Exterior trim and porch paint
- Cosmetic upgrades optional
Utilities
- Heat: Paid by Tenants, Split,
- Electric: Paid by Tenants, Split.
- Water/Sewer: Public. 2 units on each account. Paid by landlord
- Trash: Paid by Tenant
Property Details
- Beds: 6 total; (2) Two bed units; (2) One bed units
- Baths: 4 (one each unit)
- Square Footage: 1925
- Lot Size: .129 A
- Year Built: 1900
- Zoning: Residential Multi Family
- Heat: 4 Separate oil hot water furnaces. Working condition. Age Unknown. Last service date unknown
- Electric: 4 Separate 100 amp Panels. Working conditions. Age unknown.
- Plumbing: Mixed. Upgraded as needed. No known issues
- Water: Public
- Sewer: Public
- Roof: Shingle. Age unknown. No leaks
- Foundation: Stone
- Windows: Wood with storm windows
- Water Heater: 4 separate units Electric 2020. Working condition.
- Parking: 4 car off street
- Flood Zone: No
- Cooling: Window AC
- Clearfield School District
- Tax assessed value $16,750
- Parcel ID: K08-220-00032
- Taxes: $1692
Comparable Sales/CMA
*we recommend any potential investor do their own due diligence and use these as a point of reference only
Comps:
Triplex
https://www.homes.com/property/102-s-4th-st-clearfield-pa/ykej3lxk14bt1/
Duplex
https://www.homes.com/property/115-s-4th-st-clearfield-pa/02emgb7x38r54/
Triplex
https://www.homes.com/property/317-turnpike-ave-clearfield-pa/dgtgrndh24g49/
Estimated Market Rents
Contact Us to Schedule a Walkthrough
The Melito & Koch Team
- Launce Soult Direct Line: 814-559-2989
- Launce Soult Email: launce@melitoandkoch.com
- Website: melitoandkoch.com
- Facebook: The Melito & Koch Team
Disclosures
- ORAL CONSUMER NOTICE:
- The Real Estate Law requires that I provide you with a written notice that describes the various business relationship choices that you may have with a real estate licensee. Since we are discussing real estate without you having the benefit of the consumer notice, I have the duty to advise you that any information you give me at this time is not considered to be confidential, and any information you give me will not be considered confidential unless and until you and I enter into a business relationship. At our first meeting I will provide you with a written consumer notice which explains those business relationships and my corresponding duties to you.
- HOLD HARMLESS ACKNOWLEDGEMENT:
- The information contained in this email, including attachments, is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, please notify the sender immediately and delete this email. Real estate investment carries inherent risk, and this email does not constitute legal or financial advice. While I strive to provide accurate and up-to-date information, I make no warranties regarding the correctness of the data or the viability of the investment strategies discussed. By using the information provided, you agree to hold harmless Realty ONE Group Supreme, or any other entity related to our relationship- for any reliance on the content of this correspondence. Investment decisions should be made based on your own due diligence and consultation with financial and legal advisors. As a real estate agent, I provide services to assist in purchasing properties and analyzing data; however, the ultimate responsibility for investment decisions lies with the investor.
- DUE DILIGENCE:
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.
