701 W College Avenue State College, PA $ 4,950,000
701 W College Avenue
$ 4,950,000
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701 W College Avenue

State College, PA, 16801
$ 4,950,000
Baths0.0 Sq 15,428

Monthly Estimate*

$ 32,899

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Studio

Commercial Property for sale in State College, PA

for $4,950,000. This 15,428 square foot building was built in 1987 on a lot size of 0.8.

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!

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Commercial Pending

Price

$ 4,950,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 24,623

Style

Apartment Building

Lot Size

0.8

Year Built

1987

Town/City

State College

County/Region

Centre

MLS | Web ID

PACE2509310

Features
Interior
Heating Fuel Electric Natural Gas
Hot Water Electric Natural Gas
Heating Y/N Y
Street Suffix AVENUE
Central Air Y/N N
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General
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
Municipality STATE COLLEGE BORO
Business Type Apartment Building
Accessibility None
County CENTRE
New Construction N
Property Type Commercial Sale
Possible Use Apartment Building Apartments
Water Access Y/N N
Status PENDING
Directions 701 West College Ave.
City STATE COLLEGE
Buyer Agent Compensation 1.8
NumberOfUnitsTotal 0
MLS Area State College Boro (16436)
Lot Size Units Square Feet
Lot Size Square Feet 34848.00
Waterfront Y/N N
Street Name COLLEGE
Tax Annual Amount 24623.0
Price Per Sq Ft Total 320.85
Acceptable Financing Bank Portfolio Cash Conventional
Vacation Rental Y/N N
Days on Market 86
Standard Status Pending
Year Built Source Estimated
Buyer Agent Compensation Type % Of Gross
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Exterior
Water Source Public
Type of Parking Parking Lot
Foundation Details Concrete Perimeter
Water View Y/N N
Building Area Total 15428.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.80
Lot Size Source Assessor
Land Assessed Value 138610.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 701
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* Excluded Features
List By
Re/Max Centre Realty

Broker

marc@marcmcmaster.com

Email

Affordability Calculator

$34,951
Per Month
94%
6%
0%
Monthly Principal & Interest
$32,899
Monthly Property Taxes
$2,052
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/7/2024$4,950,000 Listed Price

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701 W College Avenue, State College, PA, 16801 is a Commercial Property for sale at $4,950,000 with 15,428 sqft and a lot size of 0.8. 701 W College Avenue is a studio with 0.0 baths and was built in 1987. The property's zip code is 16801 which is in State College, PA