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Auction Information
Auctioneer Nicholls Auction Marketing Group 540-898-0971
Auction Date Oct 19 Auction
Location
502 S. Franklin Street
Palmyra, PA
Time 03:00PM
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Auction Listing
AuctionZip Auctioneer ID# 1519

-- ONLINE ONLY REAL ESTATE AUCTION --
List Price is opening bid only.
Price to be determined at online only auction.

8 Unit Apartment Complex Only Minutes from Hershey Medical Center & HersheyPark – Online Only Auction

ONLINE ONLY REAL ESTATE AUCTION

Bidding Begins Closing on Wednesday, October 19 at 3 pm.

502 S. Franklin Street
Palmyra, PA 17078

Price to be determined at online only Auction.

- 8 unit brick apartment complex (2 buildings) totaling 7,072 +/- sf. on .56 +/- acres
- Each unit has 2 bedrooms w/hardwood flooring, 1 bathroom w/tub/shower combo (vinyl flooring), kitchen (vinyl flooring), living room w/hardwood flooring, unfinished cement floor basements
- Each unit has front and rear entrances
- Each unit has baseboard/oil hot water heating system
- Each unit has it’s own separate electric and water meters
- Roof is 16 years old
- Concrete sidewalks, curbing and patios; 6 x 34 breezeway; road frontage on all 3 sides
- Current leases have an automatic 30 day renewal with a 30 day notice required prior to vacating the premises (month to month)
- Current rents: 502 S Franklin: $690; 506 S Franklin: $630; 510 S Franklin: $630; 520 S Franklin: $690; 524 & 528 S Franklin: vacant; 505 Birch: $660; 504 E Pine: vacant. The 3 vacant apartments represent long time tenants (40, 30 & 15 years respectively) who have relocated to nursing homes due to health/age issues.
- All current tenants pay their own utilities (electric, water, cable, etc.) and they pay $125 per quarter to the owners for sewer and trash service.
- This property boasts an attractive location only 6 miles from Penn State Milton S. Hershey Medical Center, 5 miles from Hersheypark, 1.9 miles from General Mills, 2.5 miles from Hershey Food Corp., and very close to Palmyra Area Middle & High Schools!!
- Tax ID: 16-2293165-356460-000; DB: 00050-1153; Record number: R208088; Zoned: R1 (Legal Non-Conforming Use); Apartment's physical addresses: 502, 506, 510, 520, 524 & 528 S. Franklin; 504 East Pine; 505 Birch, Palmyra, PA 17078
- Only $250,000 Starting Bid!!

Bidding Note: Online Bidding Only. BID NOW. Bidding begins closing on Wednesday, October 19 at 3 pm Eastern.

Please contact Kelly Strauss (540-226-1279) for questions concerning terms and conditions, and contact Bobby Bering (717-926-5153) to set up a private preview of the property.
ATTN REALTORS: If you are a Realtor representing a buyer, please complete the broker participation form. In order to be compensated, broker forms must be completed and submitted no later than 5 pm on 10/18/16.

Thank you for your interest in this property. If you need additional information please visit www.nichollsauction.com.

Nicholls Auction Marketing Group
Corporate Office: 888.357.2814
E-mail: info@nichollsauction.com
On the web at: www.nichollsauction.com
VAAF 729

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Auctioneer License Information: VAAF #729

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