238-242 N George St - Apartments FOR SALE


York, PA 17401- Downtown York
$3,100,000 USD
717-731-1990
238-242 N George St, York, PA for Sale
$3,100,000 USD
Apartments - FOR SALE
1/6
null | 7.41% Cap Rate

238-242 N George St
York, PA 17401
Downtown York


HIGHLIGHTS

  • Office suite has a newly commenced 5-year lease to a credit tenant
  • Below market apartment rents can be marked to market (currently 20% below market)
  • Converted in 2017 and in very good condition
  • Elevator-served
  • New HVAC, roof, plumbing, electric, sprinkler system, & appliances in 2017

OVERVIEW

Landmark Commercial Realty is proud to present Pullman Apartments – an elevator-served, Class A mixed-use complex in Downtown York, PA. The property offers 20 one-bedroom units above first floor professional office. The office suite is leased to Leadership York with 4 years remaining on the base term. The sale offers the option to have 12 units leased back through 5/1/2030. The average rental rate for the balance of the complex is approximately $1,000 per month where market is roughly $1,250 for similar units – indicating significant room-to-run on organic rent growth.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$172 USD /SF

# OF UNITS

21

PRICE/UNIT

$147,619

CAP RATE

7.41%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pullman Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,140 SF

ZONING

CM

APN/PARCEL ID

03-042-01-0014.00-00000

ASK ABOUT THIS PROPERTY

Mike Rohm CCIM, MAILandmark Commercial RealtyMore Info
717-731-1990

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Mike Rohm CCIM, MAILandmark Commercial RealtyMore Info
717-731-1990

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