609-617 E Main Street, Larksville, PA 18651 (MLS# SC-2475)

609-617 E Main Street, Larksville, PA 18651

$620,000

Property Type: Residential Income Bedrooms: 6 Baths: 6 Lot Size (sq. ft.): 13,068 Status: Closed

Current Price: $620,000 List Date: 5/12/2024 Last Modified: 9/25/2024

Description

There are two buildings in Larksville with a total of 16 apartments. Six of them are rented out, and the rest need some repair work. Estimate of $10k to $15k per apartment to make them rent ready. Both buildings have new blue metal roofs. This deal isn't for first-time investors. You need to pay with cash, use a commercial loan, hard money, or private lending. Showing the unoccupied units only. There are two parking lots for the buildings. The pictures towards the end are more representative of the unoccupied units. Only three have been updated with new floors, kitchen cabinets, and cleaning. Showings will be grouped together for efficiency. Tenants pay electric. Owner pays the remaining utilities: Water, Sewer, Trash, Lawn, Snow. POA has no info on past monthly expenses, and are estimated.

More Information MLS# SC-2475

Contract Information

Current Price: $620,000 Sold Price: $620,000 Status: Closed Listing Contract Date: 2024-05-10 Property Sub Type: Multi Family Listing Agreement: Exclusive Right To Sell Listing Service: Full Service Owner Name: BOREAL PROPERTIES LLC

Location Tax and Legal

Street Number: 609-617 Street Direction Prefix: E Street Name: Main Street Suffix: Street State: PA Postal Code: 18651 County: Luzerne

General Property Information

Number Of Buildings: 2 Number Of Units Total: 6 Bedrooms Total: 6 Bathrooms Total: 6 Bathrooms Full: 6 Above Grade Finished Area: 9820 Living Area: 9820 Enhanced Accessible: No Year Built: 1940 Year Built Source: Estimated New Construction YN: No Garage YN: No Lot Size Acres: 0.3 Lot Size Dimensions: 150x215x50x90x105x115 Lot Dimensions Source: Estimated Waterfront YN: No Basement YN: No Stories: 3 Auction YN: No List Price/SqFt: 66.19 Sold Price/SqFt: 63.14

Remarks and Miscellaneous

Public Remarks: There are two buildings in Larksville with a total of 16 apartments. Six of them are rented out, and the rest need some repair work. Estimate of $10k to $15k per apartment to make them rent ready. Both buildings have new blue metal roofs. This deal isn't for first-time investors. You need to pay with cash, use a commercial loan, hard money, or private lending. Showing the unoccupied units only. There are two parking lots for the buildings. The pictures towards the end are more representative of the unoccupied units. Only three have been updated with new floors, kitchen cabinets, and cleaning. Showings will be grouped together for efficiency. Tenants pay electric. Owner pays the remaining utilities: Water, Sewer, Trash, Lawn, Snow. POA has no info on past monthly expenses, and are estimated.

Status Change Information

Major Change Timestamp: 2024-09-25T06:30:50Z Major Change Type: Status Change Status Change Timestamp: 2024-09-25 Purchase Contract Date: 2024-07-01 Close Date: 2024-09-23 Close Price: 620000 Concessions: Yes Buyer Financing: Other Concessions Amount: 30000

Income and Expenses

Insurance Expense: 6267 Other Expense: 2367 Water Expense: 4951

Unit 1

Unit #: 617-D Actual Rent: 600 SqFt Total: 600 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes

Unit 2

Unit #: 617-B Actual Rent: 600 SqFt Total: 600 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes

Unit 3

Unit #: 609-5 Actual Rent: 650 SqFt Total: 650 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes Lease Expiration Date: 2024-11-30

Unit 4

Unit #: 609-4 Actual Rent: 780 SqFt Total: 700 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes Lease Expiration Date: 2024-07-31

Unit 5

Unit #: 609-3 Actual Rent: 750 SqFt Total: 700 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes Lease Expiration Date: 2024-10-31

Unit 6

Unit #: 609-1 Actual Rent: 600 SqFt Total: 600 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes

Unit Details

Efficiency: 4 1 Bedroom: 12

Listing Office: LUXE Homes Real Estate LLC

Last Updated: September - 25 - 2024

Information deemed reliable but not guaranteed.