Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1876
Sq.Footage
N/A
Amazing investment opportunity in the heart of Manheim! Ability to rent out 28 to 30 units with 10-11% Cap Rate (including fix up cost & debt service).....Formally known as the Summy House, this historic property is comprised of two separate buildings on one parcel. The front building along Rt. 72 features 1 apartment in the basement, 3 commercial spaces on the 1st floor (formally the Sink Restaurant & Bar) and 2 office/studio spaces, the 2nd and 3rd floor was used as a residential boarding house with 19 bedrooms, 3 bathrooms, and 2 kitchens. In addition, a separate apartment built on rear of main building and an additional fully occupied 5-unit apartment building that sits along Wolf St. This is 1 of 2 boarding houses that owners have in Manheim. (See pro-forma of Washington House currently filled) These buildings have been cash cows for them with waiting lists to fill any vacancies. Main building is currently condemned from a fire and needs repaired before renting again to all units. Structural fire damage is contained to 2-3 bedrooms and some smoke damage throughout other parts of 1st and 2nd floor. The 1st floor and 3rd floor was virtually unaffected except for smoke smell. Rear parking lot has 15 parking spaces, with 2 additional spaces in front of the 5-unit building, for a total of 17 spaces. See supporting docs for repair costs, financial analysis, building layouts.....this will not last long, schedule your showing today!
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Window Unit(s)
-
Heating YN
YES
-
Heating
Electric, Natural Gas, Baseboard
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
Paved, Parking Lot
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Features
Level
-
Lot Size(acres)
0.33
-
Property Type
Commercial Sale
-
Property Sub Type
Mixed Use
Price
-
Sales Price
$1,050,000
-
Tax Amount
18570.0
-
Zoning
Mixed Use
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
MANHEIM CENTRAL
-
High School
MANHEIM CENTRAL
Property Features
-
Foundation Details
Stone, Brick/Mortar, Concrete Perimeter
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
LANCASTER
Elementary School
Middle School
MANHEIM CENTRAL
High School
MANHEIM CENTRAL
Listing Courtesy of David A Wissler , Coldwell Banker Realty
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AGENT
Chris Bollman
Call Chris today to schedule a private showing.
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