Current Use by Public Records
- Carpe Diem Gaming / Employment Agency
Property Details for 320 Lincoln Ave
- Year built
- 1920
- Lot size
- 0.40 lot acres
- Property type
- Apartment buildings
Description
This exceptional 12-unit apartment building at 320 East Lincoln Avenue in New Castle, Pennsylvania, presents a compelling investment opportunity. The property, built in 1920 and situated on a 0.4-acre lot, boasts 10,000 square feet of living space, offering a blend of classic charm and modern convenience. Currently, 58% of the units are occupied. The building features twelve one-bedroom apartments, five of which require minor rehabilitation, presenting a value-add potential for investors. The property is fully equipped with a fire sprinkler system and a convenient elevator, ensuring accessibility for all residents. Ample parking is available on-site. The asking price is $499,999, translating to $49,999.99 per unit and $70 per square foot. The property is zoned R2 and offers a strong potential for rental income. This multifamily residence is an ideal investment for those seeking a property with significant upside potential in a desirable location. The building's unique character, combined with its modern amenities and convenient location, makes it a truly attractive investment opportunity. The existing occupancy rate provides immediate cash flow, while the potential for renovation offers further returns. This property is a rare find in the New Castle market.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Castle
- County
- Lawrence
- State
- Pennsylvania
- Longitude
- -80.3385
- Latitude
- 41.0053
