Five-Unit Residential Income
13580 MONTEREY LANE Blue Ridge Summit, PA 17214
13580 MONTEREY LANE, Blue Ridge Summit, PA, 17214
$490,000
For Sale
$490,000
Five-unit building with extensive 2020 updates, including electrical service, unit refurbishments, and hot water heater replacements.
Property Size3,035 SF
Price / SF$161.45
Days on Market8
Property Features for 13580 MONTEREY LANE
General Information
- Standard status
- Active
- Size
- 3,035 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
Kandor Real Estate
(717) 372-7433
Listed by
Katie A Cox · License #RS293070
(717) 372-7433
Source
Cummingsrealtors
Added: Jul 15 Updated: Jul 21 at 4:12AM Checked: Jul 21 at 4:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kandor Real Estate
Investment Insights
Based on property information with market context.
This five-unit residential income building is zoned for a commercial neighborhood and has undergone substantial updates completed in 2020. Improvements include new electric service with panels and meters, new gutters and downspouts, exterior paint, and replacement of some windows. Interior work includes refurbishing all units with new paint and flooring, along with updated kitchens, appliances, and hot water heaters.
The property is located at 13580 Monterey Lane in Blue Ridge Summit, PA 17214, offering a residential setup within a commercial neighborhood context. The owner reports strong tenant demand with a very low vacancy rate and consistent cash flow.
Overall, the building presents a unit-refreshed configuration with major infrastructure work from 2020, supporting day-to-day functionality across all five units.
The property is located at 13580 Monterey Lane in Blue Ridge Summit, PA 17214, offering a residential setup within a commercial neighborhood context. The owner reports strong tenant demand with a very low vacancy rate and consistent cash flow.
Overall, the building presents a unit-refreshed configuration with major infrastructure work from 2020, supporting day-to-day functionality across all five units.
Key Highlights
- Five‑unit residential building built in 1900, zoned Commercial Neighborhood.
- Major updates completed in 2020: new electric service with panels and meters, plus new gutters and downspouts.
- 2020 unit refurbishments include new paint and flooring throughout the building.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.2k | $17.52 |
| − Vacancy | −$3.6k | −$1.19 |
| EGI | $49.6k | $16.33 |
| − OpEx | −$22.3k | −$7.35 |
| NOI | $27.3k | $8.98 |
3,035 SF · lease $17.52/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$389.4K
$340.7K – $454.3K
NOI $27,257 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$735.9K
$643.9K – $858.5K
NOI $51,512 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five-unit building with extensive 2020 updates, including electrical service, unit refurbishments, and hot water heater replacements.
Where is this apartment building located?
The property is located at 13580 MONTEREY LANE Blue Ridge Summit, PA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Five‑unit residential building built in 1900, zoned Commercial Neighborhood.; Major updates completed in 2020: new electric service with panels and meters, plus new gutters and downspouts.; 2020 unit refurbishments include new paint and flooring throughout the building.
