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Listed by Alexander Schwartz • RE/MAX Preferred - Cherry Hill
$899,000
Est. payment /mo
22,651 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 22,651 sqft
Price per Sqft $39
MLS Listing ID PAWN2000764
Year Built 1830
Annual Tax Amount $7,850
Tax Year 2025
Lot Size 0.520 Acres
Acres 0.52
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
7-unit mixed use apartment building for sale including 6 efficiency apartments and one 3 beds, 1 bath apartment. Inactive historic bar/restaurant with liquor license on 1st floor which could be converted to additional units or continue operations as a turnkey bar/restaurant with a full kitchen. Very close proximity to Bethel Woods, Big Bear Ski Lodge, the Delaware river, and other attractions in the Poconos making it attractive for year-round tourism. Each of the furnished units are fully occupied on a month-to-month basis without leases in place paying $1,000 per month. Owner occupies the 3-bed unit. Operating costs are roughly 15k per year (taxes are 7850, sewer 3k, insurance 2k). Brand new propane Furnace with 2 new electric water heaters. The property could also be used as a short-term rental. Located just five minutes from New York State and two-and-a-half-hours from New York City, NJ, and Philadelphia. The large lot size suggests room for further development of the grounds. Owner will be open to a short-term owner financing with minimum 375k down at a desirable 5% interest rate with balloon payment at end of term. Capitalize on the region's housing shortage and tourism draw the Poconos brings and this could be a cash cow to add to your portfolio.
Location
State PA
County Wayne
Area Berlin Township (13901)
Zoning COMMERCIAL
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Window Unit(s)
Heat Source Electric, Propane - Owned
Exterior
Garage Spaces 18.0
Water Access N
Accessibility None
Total Parking Spaces 18
Garage N
Building
Sewer Public Sewer
Water Well
New Construction N
Schools
School District Wayne Highlands
Others
Tax ID NO TAX RECORD
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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