460 W WALNUT ST Kutztown, PA 19530

Multi-unit student rental property a block from Kutztown University. This property has been a cash cow for the seller. Currently occupied by 5 students. Has permitted use for 7 students. For many years prior, the property has been fully occupied. Seller lives outside of town, has retired, and does not want to spend the time required to get full occupancy, but can provide records of full occupancy from past years. Students typically pay the entire academic year up front, or per semester, ranging from $3000-$3300 per semester/ $6000-$6600 for the academic year. The property was renovated last year. All systems are functioning. Electric heat, electric stove. The two units consist of a bi-level 4 bedroom unit, and a ranch style 3 bedroom. The property is less than ten homes away from campus. There is a designated parking lot in the rear, as well as large backyard, and cellar for storage. With a more hands on landlord, this property can have full occupancy, making this a great ROI. Even with vacancies this year, the property is still bringing in approx. $30,000. Great neighborhood.