302 15Th St Franklin, PA 16323
- Apartment buildings
- 0.52 lot acres
Current Use by Public Records
- Terrace Garden Apartments, LLC / Apartment Complex
Property Details for 302 15Th St
- Year built
- 1986
- Lot size
- 0.52 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained, 20-unit apartment building situated on a 0.52-acre lot at 302 15th Street in Franklin, Pennsylvania. The property boasts a strong history of full occupancy and a waiting list, demonstrating consistent rental income. This brick building comprises eighteen two-bedroom units and two one-bedroom units, thoughtfully arranged into four distinct sections. Each unit features a consistent layout, including a fully furnished galley kitchen, dining area, living room, and ample closet space. Residents enjoy convenient access to individual storage areas within the basement, which also houses a coin-operated laundry facility. Outdoor amenities include private terraces and patios, enhancing the appeal for tenants. A common parking lot provides assigned spaces for each unit, with additional parking readily available on nearby 15th and Elk Streets. The building benefits from a responsible cost allocation: tenants are responsible for electricity, while the owner covers water, sewage, and trash removal. Significant improvements have been implemented since 2019, including the installation of new electrical boxes in every unit, the addition of exterior LED lighting, a new commercial washer and dryer, resealing of the parking lot, and the upgrade to LED hallway light fixtures. This turnkey investment offers a compelling opportunity for immediate income generation and long-term growth potential. The property is priced at $1,495,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Franklin
- County
- Clarion/Venango
- State
- Pennsylvania
- Longitude
- -79.8365
- Latitude
- 41.3992
