Gomberg Report: Pennsylvania

Property Description

Two brick buildings. Main building has 14 1BR apartments and the small building has 2 1BR apartments. Well maintained. Long term tenants.

12 units, all efficiencies, 100% occupied. Brand new Stucco exterior. Rents range between $650 and $700. Units re-painted and re-carpetted within the past year. One unit has hardwood floors.

1972 Apartment building situated on half an acre of land. Off-street parking. Close to public transportation and schools.

Property consists of 4 1BR and 2 2BR apartments, 4 retail units and garage. All separate utilities. Off-street parking in rear of building.

Property consists of 1 studio, 5 1BR, 9 2BR, one duplex and one single family home all situated on 2.2 acres. Opportunity to develop more units. Located just off Rte. 15.

Historic building with 4 studios, 15 1BR and 11 2BR units. Separate gas and electric. River views in most units. New rear porches. Laundry room.

Property consists of 10 1BR and 1 2BR unit (owner occupied) with central air and separately metered utilities. Located in a residentail neighborhood 2 blocks from train station.

Subject consists of 6 buildings on 4.5 Acres as follows: one 12 unit bldg., one 3 unit bldg., two single homes, one 5 garage bldg. and one 3 garage building. The units breakdown as follows: one 4 BR half house, one 3 BR half house, two 2 BR single homes, four 2 BR apartments, and nine 1 BR apartments. Five 10'x25' storage garages, one 25'x40' garage, one 25'x20' garage, and one 10'x40' garage.

Property consists of 8 1BR apartments and a cell phone tower on the roof with a long term lease that currently generates $975 per month in income. All new replacement windows and doors, newer roof and upgraded plumbing.

1960 Apartment building located in the Olney section of Philadelphia.

Property consists of four contigous buildings with 3 studios, 16 1BR, 43 2BR and 1 3BR unit. All updated last year. Low vacancy.

HAP Government contract building with annual increases in rent. Property has many new improvements including, siding, windows and more.

Package consists of 12 buildings with 48 apartments and 3 garages. Half the buildings the tenants pay for heat.

Fully occupied apartment building with new roof. Property has been completely rehabbed over the past few years. Tenants pay heat and electric.

Rental income of over $15,000 per month from a mix of apt sizes, (eight 1 BR apts, eleven 2 BR' s, six with 3BR' s, and two 4 BR units). Tenants pay for their electric which includes heat. Full coin op laundry in large basement, with room for additional tenant storage and maintenance staff work room. Property features secure access, elevator from basement to fourth floor and parking spaces for each unit in the adjacent lot.

This Property includes 2 side-by-side 3-story Brick buildings with a total of 22 one bedroom units, 3 studio units, common parking lot and coin operated laundry facilities in each building. Located on a quiet street, yet conveniently located just off Rt 113. The owner has continually modernized, updated and maintained the buildings throughout the years. The property is 100% occupied.

Apartment complex situated on 3.9 acres and located near Allegheny County Airport. There are 33 studios and 37 1BR units.

Property consists of two buildings with 18 1BR and 16 2BR.

Two 8-unit buildings with 6 1BR, 8 2BR and 2 2BR with 1.5BA. Well maintained and 100% occupied. Most units are updated. Ample off-street parking on 15,000 sf lot.

Gomberg Report > Pennsylvania Updated 4/25/2008 Click on the thumbnail picture to view larger size picture. Click on the "contact broker" link to request more information from the Broker. New Listings are labeled for the first 2 weeks We will have listings available state-wide within the next year (as we only have select cities within this state currently). However, all of our financial programs are available nationwide now.
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Allentown (approximately 50 miles north of Philadelphia)
	16 unit	875,000 80% Financing Available	105,900	8.26	54,687	Two brick buildings. Main building has 14 1BR apartments and the small building has 2 1BR apartments. Well maintained. Long term tenants.	contact broker
Conshohocken (approximately 15 miles northwest of Philadelphia)
	12 unit	975,000 80% Financing Available	98,400	9.91	81,250	12 units, all efficiencies, 100% occupied. Brand new Stucco exterior. Rents range between $650 and $700. Units re-painted and re-carpetted within the past year. One unit has hardwood floors.	contact broker
Crafton (less than 5 miles west of Pittsburgh)
	15 unit New Listing	1,095,000 80% Financing Available	110,580	9.9	73,000	1972 Apartment building situated on half an acre of land. Off-street parking. Close to public transportation and schools.	contact broker
Drexel Hill (approximately 7 miles west of Philadelphia)
	10 unit mixed-use	990,000 Financing Available	117,960	8.39	99,000	Property consists of 4 1BR and 2 2BR apartments, 4 retail units and garage. All separate utilities. Off-street parking in rear of building.	contact broker
Dillsburg (approximately 18 miles south of Harrisburg)
	17 unit	795,000 80% Financing Available	97,740	8.13	46,764	Property consists of 1 studio, 5 1BR, 9 2BR, one duplex and one single family home all situated on 2.2 acres. Opportunity to develop more units. Located just off Rte. 15.	contact broker
Harrisburg (approximately 80 miles northwest of Philadelphia)
	30 unit New Listing	1,200,000 80% Financing Available	203,520	5.9	40,000	Historic building with 4 studios, 15 1BR and 11 2BR units. Separate gas and electric. River views in most units. New rear porches. Laundry room.	contact broker
Landsdowne (approximately 70 miles northwest of Harrisburg)
	11 unit	659,970 80% Financing Available	85,740	7.7	59,997	Property consists of 10 1BR and 1 2BR unit (owner occupied) with central air and separately metered utilities. Located in a residentail neighborhood 2 blocks from train station.	contact broker
Lebanon (approximately 25 miles east of Harrisburg)
	17 unit	1,125,000 80% Financing Available	129,360	8.7	66,176	Subject consists of 6 buildings on 4.5 Acres as follows: one 12 unit bldg., one 3 unit bldg., two single homes, one 5 garage bldg. and one 3 garage building. The units breakdown as follows: one 4 BR half house, one 3 BR half house, two 2 BR single homes, four 2 BR apartments, and nine 1 BR apartments. Five 10'x25' storage garages, one 25'x40' garage, one 25'x20' garage, and one 10'x40' garage.	contact broker
Morton (approximately 10 miles southwest of Philadelphia)
No current listings
Philadelphia
	8 unit	649,000 80% Financing Available	75,250	8.62	81,125	Property consists of 8 1BR apartments and a cell phone tower on the roof with a long term lease that currently generates $975 per month in income. All new replacement windows and doors, newer roof and upgraded plumbing.	contact broker
	71 unit	4,400,000 80% Financing Available	548,000	8.03	61,971	1960 Apartment building located in the Olney section of Philadelphia.	contact broker
Pittsburgh
	63 unit	1,850,000 80% Financing Available	351,696	5.27	29,365	Property consists of four contigous buildings with 3 studios, 16 1BR, 43 2BR and 1 3BR unit. All updated last year. Low vacancy.	contact broker
	70 unit	3,175,000 80% Financing Available	664,680	4.78	45,357	HAP Government contract building with annual increases in rent. Property has many new improvements including, siding, windows and more.	contact broker
Reading (approximately 50 miles northwest of Philadelphia)
	48 unit New Listing	1,200,000 80% Financing Available	240,000	5	25,000	Package consists of 12 buildings with 48 apartments and 3 garages. Half the buildings the tenants pay for heat.	contact broker
	16 unit	895,000 80% Financing Available	107,400	8.33	55,937	Fully occupied apartment building with new roof. Property has been completely rehabbed over the past few years. Tenants pay heat and electric.	contact broker
	27 unit	1,195,000 80% Financing Available	180,000	6.64	44,259	Rental income of over $15,000 per month from a mix of apt sizes, (eight 1 BR apts, eleven 2 BR' s, six with 3BR' s, and two 4 BR units). Tenants pay for their electric which includes heat. Full coin op laundry in large basement, with room for additional tenant storage and maintenance staff work room. Property features secure access, elevator from basement to fourth floor and parking spaces for each unit in the adjacent lot.	contact broker
Rochester (approximately 20 miles north of Pittsburgh)
No current listings
Souderton (approximately 25 miles north of Philadelphia)
	25 unit	2,200,000 80% Financing Available	206,400	10.66	88,000	This Property includes 2 side-by-side 3-story Brick buildings with a total of 22 one bedroom units, 3 studio units, common parking lot and coin operated laundry facilities in each building. Located on a quiet street, yet conveniently located just off Rt 113. The owner has continually modernized, updated and maintained the buildings throughout the years. The property is 100% occupied.	contact broker
West Mifflin (approximately 10 miles south of Pittsburgh)
	70 unit	1,800,000 80% Financing Available	308,448	5.8	25,714	Apartment complex situated on 3.9 acres and located near Allegheny County Airport. There are 33 studios and 37 1BR units.	contact broker
York (approximately 30 miles south of Harrisburg)
	34 unit	1,350,000 80% Financing Available	139,812	9.66	39,705	Property consists of two buildings with 18 1BR and 16 2BR.	contact broker
	16 unit	1,200,000 80% Financing Available	122,400	9.8	75,000	Two 8-unit buildings with 6 1BR, 8 2BR and 2 2BR with 1.5BA. Well maintained and 100% occupied. Most units are updated. Ample off-street parking on 15,000 sf lot.	contact broker