State College, PA 16801,701 W COLLEGE AVE
State College, PA 16801,701 W COLLEGE AVE
State College, PA 16801,701 W COLLEGE AVE
State College, PA 16801,701 W COLLEGE AVE
State College, PA 16801,701 W COLLEGE AVE
State College, PA 16801,701 W COLLEGE AVE
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$4,600,000

$4,950,000

7.1%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

15,428 SqFt


SOLD DATE : 08/05/2024

Key Details

Sold Price $4,600,000

Property Type Commercial

Sub Type Five Or More Units

Listing Status Sold

Purchase Type For Sale

Square Footage 15,428 sqft

Price per Sqft $298

MLS Listing ID PACE2509310

Sold Date 08/05/24

Originating Board BRIGHT

Year Built 1987

Annual Tax Amount $24,623

Tax Year 2022

Lot Size 0.800 Acres

Acres 0.8

Lot Dimensions 0.00 x 0.00

Property Description

Welcome to 701 West College Avenue, your prime investment opportunity nestled in the heart of State College, PA! Situated less than a mile from the esteemed Penn State University, this 16-unit student rental property beckons savvy investors seeking a lucrative addition to their portfolio.
Boasting an unbeatable location, this property offers unparalleled convenience for students, faculty, and staff alike. Imagine the appeal of living just moments away from campus amenities, including academic buildings, dining options, and vibrant student life. With its proximity to Penn State University, tenants will enjoy easy access to campus events, sporting venues, and cultural attractions.

Each of the 16 units within this well-maintained complex provides comfortable living spaces designed to meet the needs of the modern student. From cozy studios to spacious multi-bedroom layouts, there's a residence to suit every lifestyle. Bright interiors, functional floor plans, and essential amenities ensure a welcoming atmosphere conducive to both study and relaxation.

Investors will appreciate the steady stream of rental income generated by this property, as well as its potential for long-term appreciation. This property is already fully rented until August of 2025. With a strong demand for student housing in State College, you can rest assured knowing that this investment promises excellent returns for years to come.

Opportunities like 701 West College Avenue are rare gems in the world of real estate investing. Don't miss your chance to secure a foothold in this dynamic market. Whether you're a seasoned investor or new to the game, this property offers the perfect combination of location, income potential, and value.

Seize the opportunity to make a smart investment in State College's thriving real estate market. Contact us today to schedule a showing and take the first step toward realizing your investment goals with 701 West College Avenue!

Location

State PA

County Centre

Area State College Boro (16436)

Zoning UV

Interior

Hot Water Electric, Natural Gas

Heating Baseboard - Electric, Hot Water

Cooling None

Heat Source Electric, Natural Gas

Exterior

Garage Spaces 26.0

Water Access N

Roof Type Shingle

Accessibility None

Total Parking Spaces 26

Garage N

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

New Construction N

Schools

School District State College Area

Others

Tax ID 36-011-,038-,0000-

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Bank Portfolio, Cash, Conventional

Listing Terms Bank Portfolio, Cash, Conventional

Financing Bank Portfolio,Cash,Conventional

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Marc Mcmaster • RE/MAX Centre Realty
Bought with David Fonash • Continental Real Estate Management
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