Welcome to Highland Terrace, a fully occupied 28-unit apartment/townhouse complex in a superior location off Ridge Avenue in a very desirable residential neighborhood just minutes from amenities, interstate 99, Route 36, Hollidaysburg, Duncansville, and downtown Altoona.
The property is improved with four multi-unit buildings on 1.86 acres consisting of three two story 8-unit apartment buildings (206,208,210) and a three story 3-unit Townhouse building.
Each apartment building features newer contemporary metal roofs, their own common-area coin operated laundry facility, designated tenant storage area (secure) along with a utility room at ground level first floor. Twenty-Four units in the apartment buildings have identical floor plans and feature a kitchen/dining area, spacious living room with front-facing balconies, two-bedrooms with full size closets, an adjoining full bath and Mountain View's that stretch into Hollidaysburg. Building 206 has an additional one bedroom ground level apartment. Each of the three townhouse units in building four provide three stories of living space with a family room, wood burning fireplace, ¾ bath at ground level, kitchen and living room balcony on the second floor and two bedrooms with full bath on the third. The units themselves are serviced by electric heat/AC with many having newer furnaces and tenants being responsible for their own electricity. The property and units are repaired and maintained as needed with newer appliances, paint, periodic kitchen/bath improvements and flooring. Due to long-term tenants, some units may be slightly more dated than others. With its stable income stream, long-term tenant occupancy history, and Value-Add potential through its superior location and continued updates, Highland Terrace is an excellent long or short term Multifamily Investment Opportunity for investors alike. Agent is related to seller.