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30-36 E Independence St
Shamokin, PA 17872
30 E Independence St · Multifamily Property For Sale
·
49 Units
PROPERTY FACTS
| No. Units | 49 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 35,100 SF |
| Property Subtype | Apartment | Average Occupancy | 0% |
| Apartment Style | Mid-Rise | No. Stories | 5 |
| Building Class | C | Year Built | 1900 |
| Zoning | Commercial District - Apartments in combination with commercial uses and apartment buildings, medical and dental clinics and labs, retail, churches, restaurants and more. | ||
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 35,100 SF |
| Average Occupancy | 0% |
| No. Stories | 5 |
| Year Built | 1900 |
| Zoning | Commercial District - Apartments in combination with commercial uses and apartment buildings, medical and dental clinics and labs, retail, churches, restaurants and more. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Business Center
- Laundry Facilities
- Vintage Building
- Elevator
ABOUT 30-36 E INDEPENDENCE ST , SHAMOKIN, PA 17872
It is 49 residential units in a five story building with lower level rented to a Dollar General. There are 7 years remaining on the lease at 60k annual income per year. Dollar General will likely renew at the end of its lease terms as they have been there for decades. The residential units have been vacant for 25 years and are in need of rehab. One use of high demand in this area is senior living which brings in $900 per unit per month for one bedrooms and $1100 for two bedrooms. Tenant pays $300 and the government pays $600/$800. The cost to rehab according to local reputable companies is approx $600,000. The income would be very good as you would make your investment back in three years at $559,200 coming from the apartments and the Dollar General. Also, each level has a laundry facility which would bring in extra income. The building could also be rented to regular tenants and not seniors. There is a high demand for 1 and 2 bedrooms in the area and Geisinger Hospital is moving to the area so demand by professionals will increase as well.. The rent for regular tenants in the area for a 1 bedroom is $550 and $650 for 2 bedrooms. The cost to rehab the property will be $600,000 to $800,000. This investment opportunity is once in a lifetime it will not last. Owner was unable to show the property for some time, but is now available for showings. Local Code has inspected the building a year ago and deemed the electrical systems and furnaces to be usable. However the elevators will require maintenance. UNHEARD OF RETURN LIKE THIS WILL NOT LAST!!! This requires $1.4 million to buy it and $600,000 to remodel it
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | - |
| 1+1 | 39 | - | - |
PROPERTY TAXES
| Parcel Number | 017-01-009-238 | Improvements Assessment | $24,100 |
| Land Assessment | $21,500 | Total Assessment | $45,600 |
PROPERTY TAXES
