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5 E Wallace Ave
New Castle, PA 16101

$3,120,000 USD

Apartments For Sale  •  58,140 SF

Property Details

  • Property Type Apartments
  • Total Building Size 58,140 SF
  • Lot Size 0.42 AC
  • Building Class C
  • Year Built 1923
  • Cap Rate 6.70 %
  • Zoning T
0 Transit Score
79 Walk Score

Highlights

Rents below market. Increase program in place to renew all 1 bed to $725 & 2 beds to $825, which will lead to a proforma annual income of $367,200
Close to hospital & near downtown & a short drive from the highways
Many new upgrades, includes new roof parapet, new roof membrane, new hardwood floors in most units & new PTAC central heat and cooling in all units

Property Flyers

Financial Summary

Cap Rate: 6.70 %

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Balcony
  • Controlled Access
  • Heating
  • Smoke Free
  • Refrigerator
  • Tub/Shower
  • Freezer

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 50
Type: Surface
Included in Rent: Yes
Adebbo Fafiyebi 401-413-4635 Debo - Glen Eagle Apartments
Adebbo Fafiyebi 401-413-4635 Debo - Glen Eagle Apartments