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    FOR SALE
    Residential income homes

    51 East Main St, North East, PA 16428

    6,316 SF 0.55 ac lot Built 1890
    Individually Owned 5-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US73-5835983
    Property summary
    AI-generated overview

    This exceptional property, the former Grape Arbor Inn, presents a unique investment opportunity in the heart of Pennsylvania's wine country. Located at 51 and 55 E Main St, North East, PA 16428, this meticulously renovated (2024) estate boasts two historic buildings (11,074 sq ft total) constructed in 1832, situated on a 0.55-acre lot. Currently vacant, the property offers immediate occupancy starting August 19, 2024. The two-unit apartment building features 10 bedrooms and 8.5 bathrooms, many as private suites, perfect for a bed and breakfast or Airbnb operation. The spacious kitchen and sunroom are ideal for entertaining. High ceilings, abundant natural light, central AC and forced air heat provide modern comfort, while original features like stained glass windows, staircases, and fireplaces retain the property's historic charm. Zoned C-1, this property offers flexibility for various uses, including its original single-family residence configuration. The asking price is $900,000 ($450,000 per unit, $81.27 per sq ft). This prime location is within walking distance of restaurants and shops, and minutes from Freeport beach and the North East marina. Don't miss this chance to own a piece of Pennsylvania history.

    Property profile
    Verified
    Property type Residential income homes
    Use group BOARDING/ROOMING HOUSE
    Year built 1890
    Construction WOOD
    Total area 6,316 SF
    Lot 0.55 ac (24,115 SF)
    Zoning code C1
    APN 36-005-033.0-008.00
    UPID US73-5835983
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Episcopal Church of Holy Cross Church
    • The Colonial Manor Hotel & Motel Resort
    • Grape Arbor Bed and Breakfast Bed & Breakfast Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Jeffrey D Garverick · 5 yrs held
    Jeffrey D Garverick
    since 2021
    5 recorded transactions
    2024
    2021
    $340,000
    2002
    $470,000
    2002
    1969
    Zoning & alternative use
    C1 · North East, PA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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