PUBLIC AUCTION
OF
REAL ESTATE
2
UNIT APARTMENT
(corner of George St. & Third Avenue)
637 NORTH GEORGE STREET
YORK, PA 17404
BORO OF YORK
YORK COUNTY, PENNA
MONDAY
EVENING, AUGUST 21, 2006
6:00 PM
REAL ESTATE: Consists of a brick building corner property with 2 apartments. First floor has kitchen, living room, one bedroom and bath, rents for $365 per month. Second floor has kitchen w/breakfast bar, living room, 2 bedrooms and bath, rents for $450 per month. Tenants pay all utilities except landlord pays sewer and trash. The property has a new gas hot water furnace.
INSPECTION:
Call Scott Bradley at 717-515-3041.
TERMS:
10% down on the day of auction, balance due within 45 days.
Buyer pays 2% transfer tax.
ANNUAL PROPERTY OPERATING
DATA
P
Purpose:
Evaluation
Date: July 6, 2006
Name:
Bradley, Scott and Lori
Location:
637 North George Street, York, PA 17404
Type of Property:
2 unit apartment house
First Floor:
$450/month Second
Floor: $365/month
GROSS SCHEDULED RENTAL INCOME
$9,780
Less: Vacancy & Credit Losses 5%
489
GROSS OPERATING INCOME
9,291
Less: Operating Expenses
Accounting & Legal
$ 100
Advertising/Licenses/Permits
200
Property
Insurance
230
Real Estate
Taxes 1,660
Repairs &
Maintenance 5% 464
Lawn (By
tenants)
Rubbish & Sewer
560
Utilities/Electricity (By tenants)
Gas & Oil (By
tenants)
Sewer & Water
(By tenants)
TOTAL OPERATING
EXPENSES 3,214 3,214
NET OPERATING
INCOME
6,077
**Tenants
on month-to-month lease
Net Operating Income - $6,077
$6,077 into 9% Cap Rate = $67,522
AUCTION CONDUCTED BY
NELSON L. EBERSOLE, AUCTIONEER
LICENSE #AU-001307-L
AND
TRAVIS STEINER
LICENSE #AU-003730L
717-269-7802
30 WEST MAIN STREET
ANNVILLE, PA 17003
PHONE (717) 867-5221 FAX (717) 867-5606
WEB SITE: www.nelsonebersole.com