201 Millville Rd Bloomsburg, PA 17815-8511
- Apartment buildings
- 0.48 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 201 Millville Rd
- Lot size
- 0.48 lot acres
- Property type
- Apartment buildings
- APN
- 05E,06--017-00,000
- APU
- 05E0601700000
Description
This exceptional investment opportunity presents a well-maintained, 20-unit apartment building in Bloomsburg, Pennsylvania. Situated on a 0.79-acre lot, this stabilized property features two buildings, each two stories high, totaling 13,560 square feet. Built in 1934 and 1973, the complex boasts 100% occupancy with most leases extending through 2025. All 20 units are individually metered for electricity, heat, and water, minimizing owner expenses. Each unit includes a parking space, a highly desirable amenity. The property benefits from an online platform for streamlined payment processing and maintenance requests. Currently generating a Net Operating Income (NOI) of $152,790, resulting in an 8.99% cap rate and a price per unit of $85,000, this property offers a strong return on investment. The property is zoned HD (High-Density), allowing for flexibility in tenant selection, including residential or student tenants. Significant value-add potential exists through the conversion of five studio units into upgraded, potentially short-term rental units, mirroring the success of a similar conversion already yielding $1,200 monthly. Additional revenue streams could be generated by installing shared laundry facilities. The current property manager is available for a three-month transition period at $1,000 per month. The property's location offers proximity to Bloomsburg University, Geisinger, Talen, a new Amazon data center, and numerous walking/biking trails. This turnkey property presents a compelling investment opportunity with substantial upside potential. Asking price is $1,700,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,160,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,605,000
- 6.5%
- $1,600,000
- 7%
- $1,595,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,425,000
- Geo Method
- $1,650,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,500,000
- Retail
- $1,585,000
- Mixed-Use
- $1,650,000
- Hospitality
- $1,330,000
- Educational
- $1,550,000
- Residential Income
- $1,750,000
- Energy
- $1,595,000
- Income-Based Land
- $1,335,000
- Food Service
- $1,625,000
Location Insight
- Map
- Local Demand
- City
- Bloomsburg
- County
- Columbia
- State
- Pennsylvania
- Longitude
- -76.4632
- Latitude
- 41.0093
- CBSA code
- 14100
- CBSA name
- BLOOMSBURG-BERWICK, PA MICROPOLITAN STATISTICAL AREA
