[9-Unit] 84-94 Forker Blvd — Sharon, 16146 For Sale

  • $359,000
  • 13 beds
  • 9 baths
  • n/a sqft

9-unit: (1) 4-unit + (1) 5-unit on one parcel


-always rented
-on over ½-acre lot
-zoned: Apartments
-current rent: $4,630/month
-market rent: over $5,000
-current CAP: over 10%

Several long-term tenants. This property is located right across the street from Sharon High School & neighbors Sharon’s country club area(!).

There is a shortage of multi-family in this area so these apartments are a greatly sought investment.
(**possible partial owner-finance.)

Taxes LoW for what it is.

 

Comps range from $34k → $68k/unit; this is right inline @the lower end, yet is ⅔-newly renovated & always rented.

*FULL expense, utility, rent roll, & rehab breakdowns available w/PoF

2 buildings:

#84:

  • two 2BR/1BA
  • two studios

#94:

  • two 2BR/1BA
  • two 1BR/1BA
  • one studio (small)

 
Just had over $68k put into rejuvenating 6 of units to have the same theme.

Schools:

  • 39 FEET to high school
  • ⅕-mile to middle school
  • all 3 elementary schools within ⅓ – ¾ mile

 

*Property is on a large lot which has plenty of room for storage.

*There are 2 parking slabs, 1 for each building. One shares a driveway w/the “super nice” next-door neighbor.

*Landlord has communicated raising rents w/the long-term tenants, who are prepared to discuss at their lease renewals.

*Tenants pay most utilities which are charged back through the leases; this is essentially a “wash” w/the utilities paid by the landlord.

*Most of the electricity comes from #94 which houses the laundry units. Coin-Op laundry was installed in October which measurably cut the water & electric usage.

*Gas & electric should further decrease as the tenants put the utilities into their names.

 

1 comp @~$39k/unit

another


  • Taxes: $4,035
  • Electric: Updated; some newer
  • Plumbing: Updated; some newer
  • Kitchen: Newer (7); decent (2)
  • Bath: Newer (6); decent (3)
  • Roof: ±20 yrs old (both)
  • Furnace: ±20 yrs old (all)
  • Hot Water Tank: New in 2019 (all)
  • Windows: Mixed
  • Units: (4) 2BR/1 BA; (2) 1 BR/1 BA; (3) studio 
  • Floors: 2+
  • Parking: Parking slabs (2; 1 for each building)
  • Rental Income: $4,630/mo
  • Rental Potential: $5,000 → $5,250/mo
Price:
$359,000
Address:
84-94 Forker Blvd
Sharon, PA 16146
Square Feet:
n/a
Lot Size:
24,570
Bedrooms:
13
Bathrooms:
9
Terms:
For Sale
Property Type:
Apartment
Year Built:
1930
Basement:
Walk-out; laundry
Const. Type:
Frame (both)

Additional Features

Year built: ≈1930 (both)

Call (800) 788-9882 for more details

Property Location