About 22 N State St
Prime investment opportunity at 22 N State St! This mixed-use commercial property offers immediate income potential and significant value-add opportunities. The first floor is leased to a long-term tenant at $2,500/month, with an additional newly approved commercial space in the lower level (separate entrance) projected to rent for $900-$1,000/month. Four residential units on the upper floors, each with private entrances, generate a total of $6,850/month (Units 1 & 2 at $1,850 each with recent increases, and Units 3 & 4 at $1,650 and $1,500, both month-to-month with room for rent adjustments). The 14-space parking lot serves tenants and commercial use, with one space currently rented for $50/month and potential for more. Recent upgrades include a fully replaced roof (2 years), and updates to electrical, plumbing, security and fire systems, and exterior (all within 3 years). The property is currently at a 9% CAP rate and 10.6% cash-on-cash return, with the potential to exceed a 11% CAP rate and 17% cash-on-cash return with market rent adjustments. Don’t miss this high-performing asset—contact us today for detailed financials and a private tour!
Features of 22 N State St
| MLS® # | PAYK2072868 |
|---|---|
| Price | $825,000 |
| Bathrooms | 0.00 |
| Square Footage | 10,040 |
| Acres | 0.04 |
| Year Built | 1910 |
| Type | Multi-Family |
| Sub-Type | Other, Detached |
| Style | Other |
| Status | Active |
Community Information
| Address | 22 N State St |
|---|---|
| Area | York City (15201) |
| City | YORK |
| County | YORK-PA |
| State | PA |
| Municipality | YORK CITY |
| Zip Code | 17403 |
Amenities
| Parking | Paved Parking, Private |
|---|---|
| Is Waterfront | No |
Interior
| Heating | Forced Air, Baseboard - Electric |
|---|---|
| Cooling | Central A/C, Window Unit(s) |
| Has Basement | No |
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Exterior | Brick and Siding |
|---|---|
| Roof | Rubber |
| Foundation | Stone, Other |
School Information
| District | YORK CITY |
|---|
Additional Information
| Date Listed | December 3rd, 2024 |
|---|---|
| Days on Market | 47 |
| Zoning | COMMERCIAL |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Inch & Co. Real Estate, LLC |
|---|---|
| Contact Info | 7179044500 |