129 W. Main Street - Kutztown

On behalf of Ownership, GREA offers qualified investors the opportunity to acquire the fee simple interest in 129 West Main Street, in Kutztown, Pennsylvania. Built in 1891, the 9-unit, 22-bedroom community consists of one building with a brick exterior, flat rubber membrane roof, and several parking spaces. The building has a desirable unit mix consisting of (6) three-bedroom and (2) two-bedroom units and one commercial space. Legally, the Property can house 24 students. The tenants pay for electricity while the owner pays for heat, hot water, and cold water. A new owner could implement a utility billback system to put that cost on the residents. There are two coin-operated washers and dryers in the basement of the property.

With frontage on West Main Street and Greenwich Street, this property is in a premier location for Kutztown students. Downtown cafes, shops, and restaurants are all within walking distance. Further, Weis Plaza anchored by a Weis grocery store, Planet Fitness, and Dollar General is less than a five-minute drive from the property.

Kutztown is a quaint borough that provides students and residents access to an array of shops, eateries, hiking trails, and parks. The borough is conveniently located between Reading and Allentown, less than 20 miles from both cities. Kutztown is 70 miles from Philadelphia and Harrisburg, and 100 miles from New York City. Kutztown University is a modern, comprehensive institution offering 130+ academic areas of study to its 7,500± undergraduate and graduate students. First-year students are required to live on campus. Of the student body seeking housing, 50% live off campus in non-college-owned, operated, or affiliated housing.

The property at 129 West Main Street presents an excellent value-add opportunity to acquire 8 apartment units and one commercial space with potential upside in proximity to the Kutztown University of Pennsylvania.