1 Kiwanis Ct - Apartments FOR SALE


Bradford, PA 16701
$4,250,000 USD
561-571-5451
1 Kiwanis Ct, Bradford, PA for Sale
$4,250,000 USD
Apartments - FOR SALE
1/9
null | 8% Cap Rate

1 Kiwanis Ct
Bradford, PA 16701


HIGHLIGHTS

  • Kiwanis Court Apartments in Bradford, PA | 65 Miles South of Buffalo, NY
  • 100% Project Based Section 8 Subsidy Contract | Renewed Under Option 4 in 2020
  • Located within 2023 Qualified Census Tract (QCT) | 30% Basis Boost for Federal LIHTC
  • Strong Unit Mix | 1, 2, and 3 Bedroom Units
  • Amenities Include: 24 Hour Access, Basketball Court, Fenced Lot, Laundry Facilities, Playground
  • Strong REAC Performance | January 2023 Inspection Recorded an 85c Score

OVERVIEW

We are pleased to present Kiwanis Court, a family-designated apartment community located on 1.95 acres in Bradford, PA. The property includes 3, two-story apartment buildings. The buildings were constructed using concrete foundations, wood frame, and wood and T1-11 siding exterior. The property's current mix includes one, two, and three bedroom units. The community amenities include 24 hour access, basketball court, fenced lot, laundry facilities, and a playground. The property features a project based Section 8 subsidy contract that covers 100% of the units and runs through 2039. Landlord is responsible for water and sewer, while the residents are responsible for electric. The last reported NSPIRE was an 85c on January 6th, 2023. The last reported MOR was an 87. The property was approved for Option 1 Contract Renewal on November 27, 2024. The gross income effective February 1, 2025 will be roughly $600,000 with roughly $350,000 NOI. The owner is amenable to selling at 8 CAP.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$106 USD /SF

# OF UNITS

50

PRICE/UNIT

$85,000

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kiwanis Courts Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.17 AC

LAND SF

94,459 SF

ZONING

-

APN/PARCEL ID

091-000701

ASK ABOUT THIS PROPERTY

Uriel RubinovRubinov Realty, LLCMore Info
561-571-5451

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Uriel RubinovRubinov Realty, LLCMore Info
561-571-5451

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.