87 MILANVILLE RD, Beach Lake, PA 18405

Property Description

7-unit mixed use apartment building for sale including 6 efficiency apartments and one 3 beds, 1 bath apartment. Inactive historic bar/restaurant with liquor license on 1st floor which could be converted to additional units or continue operations as a turnkey bar/restaurant with a full kitchen. Very close proximity to Bethel Woods, Big Bear Ski Lodge, the Delaware river, and other attractions in the Poconos making it attractive for year-round tourism. Each of the furnished units are fully occupied on a month-to-month basis without leases in place paying $1,000 per month. Owner occupies the 3-bed unit. Operating costs are roughly 15k per year (taxes are 7850, sewer 3k, insurance 2k). Brand new propane Furnace with 2 new electric water heaters. The property could also be used as a short-term rental. Located just five minutes from New York State and two-and-a-half-hours from New York City, NJ, and Philadelphia. The large lot size suggests room for further development of the grounds. Owner will be open to a short-term owner financing with minimum 375k down at a desirable 5% interest rate with balloon payment at end of term. Capitalize on the region's housing shortage and tourism draw the Poconos brings and this could be a cash cow to add to your portfolio.

Listing Status:

Active

Listing Office:

RE/MAX Preferred - Cherry Hill : 8566162626

Listing Agent:

Alexander Schwartz : 5703515242

MLS ID:

PAWN2000764

Interior

• A/C: Window Unit(s)
• Heating: Baseboard - ElectricElectricPropane - Owned
• Disability Feature: None

Construction

• General: Other

Location

• Originating MLS: BRIGHT_MAIN
• School District: WAYNE HIGHLANDS
• County: WAYNE-PA

Lot

• Zoning: COMMERCIALNO TAX RECORD

Utilities

• Water: Well
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN

This listing courtesy of Alexander Schwartz, RE/MAX Preferred - Cherry Hill