32-Unit Apartment Complex - Somerset County PA

32-Unit Apartment Complex - Somerset County PA

32 Unit Apartment Complex Up for Public Auction!

Bid Online!

Want to participate in our auction but can't attend? Bid online or download our app to bid and receive notifications about all of our auctions!

For an optimized streaming experience on desktop, please use Google Chrome or Mozilla Firefox

Download Chrome

Download Firefox

Download our app!

BID ONLINE NOW!
Powered by BidWrangler logo

Property Tour - Monday, October 11th from 11AM-1PM

Please Note - This property will be offered individually AND in combination with 100 Berlin Manor Rd. Berlin, combination bid price must exceed the indiviual property amounts to be sold as a combination. This property will be sold at approximately 11:30AM on site at 100 BERLIN MANOR BERLIN, PA.

Phenomonal Income Producing Opportunity! Originally built by the Federal Government as a subsidized living complex in 1992. Property is generally 95% occupied - currently has about 60% occupancy with subsidized rentals and 40% public rentals. Those tenants in the subsidized program are still receiving Government assistance. 

Property Address - 70 Grant St. Salisbury PA 15558

Subsidized Housing - Voucher Program

Somerset County

One Square Block

2 Story Well Maintained Structure

32 Unit Apartment Building

Total Building SF - 23,859

Property Consists of - 

Gathering Areas for Parties/Picnics

Coin Operated Laundry Room

Office/Maintenance Area

Elevator - Serviced Twice Per Year (Buyer will assume service contract)

Sprinkler System

Emergency Pull Cords in Rooms if Tenants become Disabled

Property Located next to Veterans War Memorial

Rents - $600 Per Unit Per Month

$19,200 per Month

$230,400 per Year

Expenses - $77,420 Per Year

Pest Control - $1200

Cleaning - $2400

Garbage - $1920

Water/Sewer - $13,200

Electric - $10,800

Taxes - $20,000

Elevator Maintenance - $1500

Salaries - $19,200

Insurance - $7,200

Terms - In order to become a registered bidder at the auction, each buyer must show $50,000 Certified Check (Made Payable to Fortna Auctioneers) on the day of the auction. At the conclusion of the auction, the winning bidder must provide a personal/business check for the remaining deposit money, totaling 5% of the purchase price with the balance due in 45 days. Property is sold in the As-Is condition. A 10% buyer premium will be added to the high bid price and become part of the purchase price. The buyer is responsible for the 2% PA real estate transfer tax. 

This property will be offered individually AND in combination with 100 Berlin Manor Berlin, combination bid price must exceed the indiviual property amounts to be sold as a combination.