379 S Main St - Apartments FOR SALE


Montrose, PA 18801
$1,579,000 USD
484-357-6924
379 S Main St, Montrose, PA for Sale
$1,579,000 USD
Apartments - FOR SALE
1/16
null | 9.28% Cap Rate

379 S Main St
Montrose, PA 18801


HIGHLIGHTS

  • FULLY LEASED, CORPORATE RENTAL PROPERTY

OVERVIEW

“The Evergreens” is a very well maintained, classically styled, efficiently configured and fully-leased apartment building containing 2 one-bedroom apartments and 4 two-bedroom apartments. Located in Montrose Pennsylvania, this property is located in the center of the Marcellus Shale region and the heart of natural gas & fracking industry. This property has been consistently been a primary rental location for several of the largest gas companies & their contractors at well above market rents due to limited housing in the region. New ownership can continue with the owner’s successful model which includes fully furnished units, a service providing linens, cleaning and other tenant amenities and a nightly / weekly leasing model which is well-suited to the gas industry. Or a new owner can elect to shift to a more traditional leasing model. This property offers off-street parking and on-site washer/dryer for tenant use. The Seller also owns the Wilson Street Apartments and 1405 Heart Lake Road, both also located in the Montrose area, fully-leased and also available for purchase. The list pricing for this property has been established from an average of the past 3 years NOI creating a strong investment opportunity with the existing full-service operational model. Multi-year rental financial reporting available upon request.

FOR SALE DETAILS

PRICE

$1,579,000 USD

PRICE/SF

$263 USD /SF

# OF UNITS

6

PRICE/UNIT

$263,167

CAP RATE

9.28%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Evergreens Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

-

APN/PARCEL ID

124.17-1-017.00-000

ASK ABOUT THIS PROPERTY

Peter AdamsBerkshire Hathaway Fox & Roach - MacungieMore Info
484-357-6924

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Peter AdamsBerkshire Hathaway Fox & Roach - MacungieMore Info
484-357-6924

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