40 Fallbrook Street, Carbondale, PA 18407 (MLS# 21-768)

40 Fallbrook Street, Carbondale, PA 18407

$350,000

Property Type: Residential Income Lot Size (sq. ft.): 5,227 Status: Closed

Current Price: $350,000 List Date: 3/12/2021 Last Modified: 9/10/2024

Description

UPDATE - NEW ROOF BEING INSTALLED WEEK OF 4/26! FULL TEAR OFF AND REINSTALL BY CERTIFIED OWENS CORNING ROOFING COMPANY. SHINGLES COME WITH A LIFETIME WARRANTY (APPROX $30K). Turn key rental property. Fully rented with long term tenants that are fully up-to-date on rent. Low vacancy, 3.5% over last 3 years. Listed at 8% cap rate. Utilities are all separated. If utilities were transferred to tenants, operating expenses would be much lower, so cap rate would be significantly higher at same list price. All financial information is available upon request. Non disclosure would apply., Modern Kitchen: Y, Tax Information: Available, Kitchen: Modern, Baths: Modern, SqFt Fin - 3rd: 0.00, SqFt Fin - Main: 3500.00, SqFt Fin - 2nd: 3500.00, Additional Info: Building was fully renovated inside and out. Entire building is spray foam insulated,so very easy to heat/cool. Very large basement and attic for storage. Separate room in basement for coin operated laundry. All units have separate utilities which are currently paid for by landlord and included in the operating expenses.

More Information MLS# 21-768

Contract Information

Current Price: $350,000 Sold Price: $350,000 Status: Closed Listing Contract Date: 2021-03-12 Property Sub Type: Multi Family Property Attached YN: No Listing Agreement: Exclusive Right To Sell Owner Name: E-JO Enterprises, LLC

Location Tax and Legal

Street Number: 40 Street Name: Fallbrook Street Suffix: Street State: PA Postal Code: 18407 County: Lackawanna

General Property Information

Number Of Buildings: 1 Number Of Units Total: 7 Above Grade Finished Area: 7000 Below Grade Finished Area: 200 Below Grade Unfinished Area: 3300 Living Area: 7200 Enhanced Accessible: No Year Built: 1900 New Construction YN: No Parking Total: 7 Lot Size Acres: 0.12 Lot Size Dimensions: 58X129X22X47X96 Land Lease YN: No Waterfront YN: No Basement YN: No Stories: 2 Fireplace YN: No Spa YN: No Auction YN: No

Remarks and Miscellaneous

Public Remarks: UPDATE - NEW ROOF BEING INSTALLED WEEK OF 4/26! FULL TEAR OFF AND REINSTALL BY CERTIFIED OWENS CORNING ROOFING COMPANY. SHINGLES COME WITH A LIFETIME WARRANTY (APPROX $30K). Turn key rental property. Fully rented with long term tenants that are fully up-to-date on rent. Low vacancy, 3.5% over last 3 years. Listed at 8% cap rate. Utilities are all separated. If utilities were transferred to tenants, operating expenses would be much lower, so cap rate would be significantly higher at same list price. All financial information is available upon request. Non disclosure would apply., Modern Kitchen: Y, Tax Information: Available, Kitchen: Modern, Baths: Modern, SqFt Fin - 3rd: 0.00, SqFt Fin - Main: 3500.00, SqFt Fin - 2nd: 3500.00, Additional Info: Building was fully renovated inside and out. Entire building is spray foam insulated,so very easy to heat/cool. Very large basement and attic for storage. Separate room in basement for coin operated laundry. All units have separate utilities which are currently paid for by landlord and included in the operating expenses. Exclusions: No

Status Change Information

Major Change Timestamp: 2021-08-09T12:21:11Z Major Change Type: Status Change Price Change Timestamp: 2021-03-12T14:34:31Z Status Change Timestamp: 2021-08-09 Purchase Contract Date: 2021-04-30 Close Date: 2021-08-06 Close Price: 350000 Concessions: No

Income and Expenses

Gross Income: 55363 Sewer Expense: 960 Water Expense: 1952

Unit 1

Unit #: A Actual Rent: 682 Security Deposit $: 682 SqFt Total: 1500 Baths Total: 1 Beds Total: 3 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit 2

Unit #: B Actual Rent: 800 Security Deposit $: 800 SqFt Total: 1200 Baths Total: 1 Beds Total: 1 Kitchen YN: Yes Living Room YN: Yes

Unit 3

Unit #: C Actual Rent: 682 Security Deposit $: 682 SqFt Total: 800 Baths Total: 1 Beds Total: 2 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit 4

Unit #: D Actual Rent: 700 Security Deposit $: 700 SqFt Total: 1200 Baths Total: 1 Beds Total: 2 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit 5

Unit #: E Actual Rent: 682 Security Deposit $: 682 SqFt Total: 800 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit 6

Unit #: F Actual Rent: 682 Security Deposit $: 682 SqFt Total: 800 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit 7

Unit #: G Actual Rent: 550 Security Deposit $: 550 SqFt Total: 800 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit Details

1 Bedroom: 5 2 Bedroom: 1 3 Bedroom: 1

Road Frontage Type

Road Frontage Length: 152

Property Features

Association Amenities: Coin Laundry Basement: Full Construction Materials: Vinyl Siding Cooling: None Heating: Baseboard; Electric; Forced Air; Hot Water; Natural Gas Laundry Features: Common Area; Gas Dryer Hookup Levels: One and One Half Listing Terms: 1031 Exchange; Cash Lot Features: Level Parking Features: Off Street; Unpaved Patio And Porch Features: Deck; Porch Possession: Negotiable Road Frontage Type: City Street Road Surface Type: Paved Roof: Composition; Rubber; Wood Security Features: Security Service; Smoke Detector(s) Sewer: Public Sewer Showing Requirements: 24 Hour Notice; Call Listing Agent; Email Listing Agent; Text Listing Agent Water Source: Public

Listing Office: Castle Key Real Estate

Last Updated: September - 10 - 2024

Information deemed reliable but not guaranteed.