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31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
31 S Main St
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$920,000

31 S Main St

14,276 Sq.Ft.

Description

Amazing investment opportunity in the heart of Manheim! Ability to rent out 28 to 30 units with 10-11% Cap Rate (including fix up cost & debt service).....Formally known as the Summy House, this historic property is comprised of two separate buildings on one parcel. The front building along Rt. 72 features 1 apartment in the basement, 3 commercial spaces on the 1st floor (formally the Sink Restaurant & Bar) and 2 office/studio spaces, the 2nd and 3rd floor was used as a residential boarding house with 19 bedrooms, 3 bathrooms, and 2 kitchens. In addition, a separate apartment built on rear of main building and an additional fully occupied 5-unit apartment building that sits along Wolf St. This is 1 of 2 boarding houses that owners have in Manheim. (See pro-forma of Washington House currently filled) These buildings have been cash cows for them with waiting lists to fill any vacancies. Main building is currently condemned from a fire and needs repaired before renting again to all units. Structural fire damage is contained to 2-3 bedrooms and some smoke damage throughout other parts of 1st and 2nd floor. The 1st floor and 3rd floor was virtually unaffected except for smoke smell. Rear parking lot has 15 parking spaces, with 2 additional spaces in front of the 5-unit building, for a total of 17 spaces. See supporting docs for repair costs, financial analysis, building layouts.....this will not last long, schedule your showing today!

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Location

31 S Main St, Manheim, PA 17545

Status

Sold
David Wissler

David Wissler

TITLE

REALTOR® | Team Leader

Property Amenities

Interior
Flooring Hardwood, Vinyl
Other Interior Features Hardwood, Vinyl
Area & Lot
Lot Area 0.33 Acres
Living area 14,276 Sq.Ft.
MLS® ID PALA2049778
Year Built 1876
Type Commercial
Status Sold
Exterior
Air conditioning Window Unit(s)
Heat type Baseboard, Hot Water, Electric, Natural Gas
Water Source Public
Security Features Smoke Detector(s)
Sewer Public Sewer
Roof Rubber
Utilities Natural Gas Available
Finance
Sales Price $920,000
Real Estate Tax $18,570 yearly

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