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Big Mill Apartments 702 N 8th St 69 Unit Apartment Building $16,200,000 ($234,783/Unit) 6.50% Cap Rate Reading, PA 19604
INVESTMENT HIGHLIGHTS
- High Density Residential Neighborhood
- Grocery Store across the street
- Great on-site amenities
EXECUTIVE SUMMARY
NAI Keystone is pleased to present the Big Mill Apartments, located at 702 N.8thSt.,Reading,PA. Built-in 1904, the Big Mill is a 6-story, Class A Mixed-Use Apartment building with 69 residential apartments and 7 commercial units, and was most recently renovated in 2017. In 2017, the property was honored with the Pennsylvania Historic Preservation Award.
The building has been completely renovated, including every primary mechanical, electrical and plumbing systems. The roof has a 20-year warranty and was installed through Liquid Membrane Roofing Systems, allowing an extended warranty program beyond the initial 20 years, which currently has 10+ years remaining. As part of the renovations, over $15 million were allocated through the historic preservation tax credit program which contributed to the structural and aesthetic improvements to the building.
The building has been completely renovated, including every primary mechanical, electrical and plumbing systems. The roof has a 20-year warranty and was installed through Liquid Membrane Roofing Systems, allowing an extended warranty program beyond the initial 20 years, which currently has 10+ years remaining. As part of the renovations, over $15 million were allocated through the historic preservation tax credit program which contributed to the structural and aesthetic improvements to the building.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Double Vanities
- Hardwood Floors
- Vaulted Ceiling
- Tub/Shower
- Island Kitchen
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Disposal Chutes
- On-Site Retail
- Smoke Free
- Vintage Building
- Elevator
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | $800.00 | 450 - 650 |
| 2+2 | 57 | $1,215 | 900 - 1,300 |
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 12-5307-60-94-3381 | Improvements Assessment | $1,740,100 |
| Land Assessment | $163,700 | Total Assessment | $1,903,800 |
PROPERTY TAXES
Parcel Number
12-5307-60-94-3381
Land Assessment
$163,700
Improvements Assessment
$1,740,100
Total Assessment
$1,903,800
CONTACTS
-
John Buccinno,CCIM SIOR -
Kyle McKechnie -
NAI Keystone Commercial & Industrial LLC
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Big Mill Apartments | 702 N 8th St
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