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1 S Charlotte St
For Sale $1,799,990
$1,799,990
- 26 Units
- Unknown Sq Ft
- 12,197 Sq Ft
- Unknown Cap Rate
Description
Amazing mixed-use investment opportunity in Manheim's Market Square with almost a 10% cap rate! Formally known as the Washington House, this historic landmark has been restored. High-visibility corner lot with 8,000/day traffic count. This iconic brick building is comprised of a large 1st floor commercial space + fully-occupied 25-unit boarding house on the 2nd & 3rd floors. The first floor commercial space is currently being offered as-is for $2,500/month + NN or with 10 year commitment and $17 psf an allowance of $65 per square foot to built it out ($277,745) + NN, and is the perfect blank canvas for a restaurant/cafe, etc. Large arched windows and a new paver patio extends across the front of the building, ideal for outdoor seating & high visibility. The open space features the rustic charm of exposed beams and brick. Rear parking lot includes 12 spaces + free street parking all around! See MLS #: PALA2053148 for more lease details. The 25-unit boarding house is fully-occupied with a waiting list to get in. Tenants pay flat weekly rate of $170 per week, owner pays all utilities. Most units have been updated and feature newer LVP flooring. Benefit from many new upgrades including all new metal, architectural shingle, and rubber roofs, fully painted exterior, new windows throughout, upgraded electrical, newer plumbing, newer HVAC (2 years old)! Other highlights include hardwired security system, 2 gas furnaces, new central A/C. Schedule your private showing before it's too late!
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,799,990 |
| Property Type | Multi-Family |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1900 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 4008295300000 |
| MLS # | PALA2055204 |
| Property ID | 320780692 |
| Lot Sqft | 12,197 |
| Zoning | CENTRAL BUSINESS DISTRICT |
| Total Units | 26 |
| Days on Market | 95 |
| Original List Price | Unknown |
| Date Updated | October 18, 2024 |
| Date Created | August 19, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $258,312 | $0 |
| Net Income (Yr) | $ 172,311 |
| Cap Rate | 10.00% |
Listing Provided By
David A Wissler an agent of . Lic #RS277709
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Data last updated: November 22, 2024.
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REAL ESTATE AGENT