2515 Woodlawn Street, Harrisburg, PA, 17111

Highlights

• 4 apartments, 1 office space & 16 storage units
• Very close proximity to Downtown Harrisburg & major highway systems
• Off street parking for tenants
• Storage units that require minimum maintenance and are an easy source of income
• Apartments have all utilities separately metered
• Harrisburg was named top 10 rental markets in the US in 2022
• Buildings have been meticulously maintained and updated

Description

Located in a quiet neighborhood of long-term homeowners, you will find this exceptionally well-maintained income producing property. Consisting of 4 residential apartment units, 1 office space and 16 storage units, this property is an excellent
income producer that spreads out risk through diversification. The tenants are long term quality tenants, and have always leased easily. Each apartment has quality oak flooring throughout, solid doors, new windows and well-maintained fixtures. The dwelling units have a separate locked storage room in basement with complete laundry hookups, adding a huge value for tenants.

Most major components are new; and the improvements the owner has made over time have reduced the operating expenses by 32% even in the face of rising costs. Each apartment has been separately metered, even down to separating water, a rarity in similar properties. Each unit has a separate gas-powered boiler, as well as gas hot water heater, and is separately metered for gas and electric. The water is sub-metered so it can easily be billed back to tenant, which current ownership does once per quarter.

Current ownership has done many property improvements, like low maintenance landscaping to save money while providing an attractive rental for residents. The careful maintenance this income producing property has benefited from has produced a healthy return and resulted in easy management.

Owner may consider seller financing. The ideal purchaser can qualify for a residential loan if desired, while enjoying the diversity of having different income streams on property.

Located off the main thoroughfares within The City of Harrisburg, this property is located in the heart of South-Central Pennsylvania making for close proximity from some of the state’s major communities, employers, and entities. With a large presence of industrial, commercial, state, and federal employers within the region, it is no surprise why Harrisburg was ranked in the top 10 rental markets in the USA in 2022 according to Realtor.com. With short drives to major highway systems such as I-83, I-81, The Pennsylvania Turnpike, and I-78, this property gives tenants an easy commute to their jobs and easy access to the areas robust attractions.

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