$4,600,000
$4,950,000
7.1%For more information regarding the value of a property, please contact us for a free consultation.
15,428 SqFt
SOLD DATE : 08/05/2024
Key Details
Sold Price $4,600,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 15,428 sqft
Price per Sqft $298
MLS Listing ID PACE2509310
Sold Date 08/05/24
Originating Board BRIGHT
Year Built 1987
Annual Tax Amount $24,623
Tax Year 2022
Lot Size 0.800 Acres
Acres 0.8
Lot Dimensions 0.00 x 0.00
Property Description
Welcome to 701 West College Avenue, your prime investment opportunity nestled in the heart of State College, PA! Situated less than a mile from the esteemed Penn State University, this 16-unit student rental property beckons savvy investors seeking a lucrative addition to their portfolio.
Boasting an unbeatable location, this property offers unparalleled convenience for students, faculty, and staff alike. Imagine the appeal of living just moments away from campus amenities, including academic buildings, dining options, and vibrant student life. With its proximity to Penn State University, tenants will enjoy easy access to campus events, sporting venues, and cultural attractions.
Each of the 16 units within this well-maintained complex provides comfortable living spaces designed to meet the needs of the modern student. From cozy studios to spacious multi-bedroom layouts, there's a residence to suit every lifestyle. Bright interiors, functional floor plans, and essential amenities ensure a welcoming atmosphere conducive to both study and relaxation.
Investors will appreciate the steady stream of rental income generated by this property, as well as its potential for long-term appreciation. This property is already fully rented until August of 2025. With a strong demand for student housing in State College, you can rest assured knowing that this investment promises excellent returns for years to come.
Opportunities like 701 West College Avenue are rare gems in the world of real estate investing. Don't miss your chance to secure a foothold in this dynamic market. Whether you're a seasoned investor or new to the game, this property offers the perfect combination of location, income potential, and value.
Seize the opportunity to make a smart investment in State College's thriving real estate market. Contact us today to schedule a showing and take the first step toward realizing your investment goals with 701 West College Avenue!
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Location
State PA
County Centre
Area State College Boro (16436)
Zoning UV
Interior
Hot Water Electric, Natural Gas
Heating Baseboard - Electric, Hot Water
Cooling None
Heat Source Electric, Natural Gas
Exterior
Garage Spaces 26.0
Waterfront N
Water Access N
Roof Type Shingle
Accessibility None
Parking Type Parking Lot
Total Parking Spaces 26
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District State College Area
Others
Tax ID 36-011-,038-,0000-
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Bank Portfolio, Cash, Conventional
Listing Terms Bank Portfolio, Cash, Conventional
Financing Bank Portfolio,Cash,Conventional
Special Listing Condition Standard
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Bought with David Fonash • Continental Real Estate Management