THE OFFERING
Property Address 42-46 S. 8th Street, Lebanon, PA 17042
Municipality City of Lebanon
List Price $899,000
Gross Potential Rents $151,680
NOI $85,063
SITE DESCRIPTION
Parcel Size 0.27 Acres
Total Square Feet 23,756
Year Built 1900 (#42); 1950 (#46)
Parking 12 Vehicle Spaces Off-Street
Zoning CBD-Central Business District
Assessment ID# 01-2338081-368841-000001-2338128-368814-0000
CONSTRUCTION
Construction Type Brick
Number of Floors Four (4) & Two and a half (2.5)
Number of Units Nineteen (19) ResidentialOne (1) Commercial
Unit Mix Four (4) One-bedroom unitsFifteen (15) Two-bedroom unitsOne (1) Commercial unit
HVAC Electric Heat Pump; Central Air
Roof Rubber (2017)
Utilities Electric; Gas; Public Water & Sewer
John Thiry, CCIMBroker of Record717 292 [email protected]
F O R M O R EI N F O R M AT I O N
P L E A S EC O N TA C T
For Sale20-UNIT MULTIFAMILY INVESTMENT
The Bell Building
2017 Improvements: New rubber roof, parking resurfacing, six (6) new heat pumps, new laundry facility and new high-efficiency lighting in the common areas.
The Bell BuildingFINANCIAL OVERVIEW
LISTING AGENT IS PARTNER/OWNER OF PROPERTY. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
OFFERING SUMMARY
PRICE $899,000
Down Payment $179,800
Gross Square Feet 23,756
Unit Count 20
Price / Unit $44,950
Parcel Size 0.27 Acres
Type of Ownership Fee Simple
Cap Rate 9.46%
Net Operating Income $85,063
Net Cash Flow after Debt Service $29,291
Cash/Cash Return 16.3%
Total Return 17.3%
FINANCING*
First Trust Deed Loan Amount $719,200
Loan Type fully amortizing
Interest Rate 4.75%
Amortization 20 years
*Loan information is intended to reflect lending available on the open market. No seller financing is implied or available.
ANNUALIZED OPERATING DATA
INCOME
Gross Collected Rent $151,680
Parking / Laundry $3,740
Gross Collected Income $155,420
Vacancy / Collection Allowance 5%
Effective Gross Income $147,649
Total Expenses $62,585
NET OPERATING INCOME $85,063
Debt Service $4,648
Debt Coverage Ratio 1.53
Net Cash Flow After Debt Service $29,291
Principle Reduction $1,800
EXPENSES
Real Estate Taxes $21,200
Insurance $5,924
Management $8,859
Repairs, Maintenance & Utilities $26,603
Total Operational & Management Expenses $62,586
