Multifamily Conversion Opportunity

320 East Lincoln Avenue & 316 - 318 Rhodes Place New Castle, PA 16101

New Castle
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
Please Call Broker for Price

Last Verified:
Feb 14, 2024

Daily Email Blast
0 times


Highlights

  • - Financially distressed property
  • - Over 60,000 SF spread across three buildings
  • - Must sell scenario
  • - Beauitful Grounds
  • - Ample Parking
  • - Prime location

Description

A tremendous value-add opportunity for a multi-family conversion directly behind the New Castle High School. This portfolio consists of three buildings on two parcels: a 71-bed personal care, 4-unit mansion, and 12-unit partially occupied apartment building. This financially distressed opportunity is under a wrap mortgage and must be sold in one transaction.

The subject sites are directly acrosse from New Castle High School and located on cross streets East Licolnn Ave and Rhodes Place in New Castle.

Building Size: 60000sq ft
Lot Size: 2.91 acres


Documents

Portfolio 2.14.24.pdf

Map of 320 East Lincoln Avenue & 316 - 318 Rhodes Place, New Castle, PA, 16101

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.