Address
701 W College Avenue, State College, PA
Price
$ 4,950,000
Property Attributes
- MLS#PACE2509310
- TypeCommercial
- CountyCENTRE
- CityState College
- AreaState College Boro
- Zip16801
- StyleApartment Building
- Year Built1987
- Taxes$ 24623
- Price$ 4,950,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage15428
- Lot Size0.8 Acres
Data Source:
Bright MLS
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!
| Price History | |
|---|---|
| 3/7/2024 | Listed $4,950,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Baseboard - Electric,Hot Water |
| Cooling | None |
| Possession | Negotiable |
| Roof | Shingle |
| Zoning | UV |
| Construction Materials | Wood Siding |
| Year Built | 1987 |
| Property SubType | Five Or More Units |
| Tax Year | 2022 |
| Percent Ownership | Fee Simple |
| Cool Fuel | None |
| Business Type | Apartment Building |
| Accessibility | None |
| County | CENTRE |
| New Construction | No |
| Property Type | Commercial Sale |
| Possible Use | Apartment Building,Apartments |
| Water Access Y/N | No |
| Status | ACTIVE |
| Directions | 701 West College Ave. |
| ModificationTimestamp | 2024-03-07T16:09:00 |
| City | STATE COLLEGE |
| Buyer Agent Compensation | 1.8 |
| MLS Area | State College Boro (16436) |
| Lot Size Square Feet | 34848.00 |
| Tax Assessed Value | 333855.0 |
| Waterfront Y/N | No |
| Street Name | COLLEGE |
| Tax Annual Amount | 24623.0 |
| Price Per Sq Ft | 320.85 |
| Acceptable Financing | Bank Portfolio,Cash,Conventional |
| Vacation Rental Y/N | No |
| Days on Market | 55 |
| Standard Status | Active |
| Year Built Source | Estimated |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric,Natural Gas |
|---|---|
| Hot Water | Electric,Natural Gas |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | No |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking Spaces | 26 |
| Type of Parking | Parking Lot |
| Foundation Details | Concrete Perimeter |
| Water View Y/N | No |
| Building Area Total | 15428.00 |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.80 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 138610.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
| Car Parking Spaces | 26 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 16801
Price
Taxes
Visits
Year Built
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