Hotel, Apartment Buildings, Commercial Buildings Great Investment, Turnkey Operation, Massive Potential Start Price USD 1,650,000.00 Current Price USD 1,650,000.00 Time Left 4 days 9 hours 28 minutes Bid Count 0 Buy It Now Price - Reserve Price - Start Time Wednesday, April 30, 2008 End Time Tuesday, July 29, 2008 Location Lewistown, Pennsylvania See more about 'Hotel, Apartment Buildings, Commercial Buildings' Description FOR  SALE:Mixed lot  including Hotel, Residential Apartments, and Commercial Buildings!New Lowered price!!! $1,650,000This is a great investment opportunity - turnkey operation with management in place.  The owner has relocated for family reasons to a different state and is a motivated seller.  Some apartment buildings will need renovation and the incomes you will see below are projected.  The properties are located in Lewistown - a growing area near Penn State University.If you are interested, the Hotel Lewistown can be purchased separately, and some of the other properties can be potentially packaged and sold separately as well. Lewistown Properties 2005           Located in the center of Lewistown, Pennsylvania, between Harrisburg and State College, the Hotel Lewistown is an historic, well-constructed and recently renovated five-story building. Originally built in 1937, the hotel still utilizes the original manually operated elevator and phone system. The desired outcome from the renovations, which took place over the last several years, was to  make improvements to the rooms, halls, and lobby area while keeping the historic charm intact. The outcome was very pleasing throughout, and added a classy feel. The hotel houses a total of 65 rooms and efficiencies, including a manager's suite and a penthouse apartment. The room mix includes 17 single beds, 44 double beds and 4 two-single beds. There are 4 adjoining rooms, 25 rooms with a full bathroom, 20 with a half bathroom (toilet and sink only), 7 with only a sink and 11 efficiencies with access to a full bathroom down the hall. Renovations to the rooms included new vanities and faucets, new windows, new carpet (both in the rooms and through the halls), new paint, new GFCI's and many new bathroom fixtures. The rooms are spread out through five floors. The first floor is generally leased as commercial/office space with the remaining floors catering to nightly, weekly and monthly customers. Floors 2-5 can be reached by either the main staircase, the back staircase, or the manually operated elevator. Room amenities include telephone, television sets (19", some 27"), and cable. Some rooms offer microwaves and refrigerators as well.  On the first floor adjacent to the lobby is a sizable commercial space with large windows, perfect for any small business or possibly a gift shop. It has a secluded entrance and therefore does not disrupt the hotel lobby. It is currently leased to a Chinese restaurant, which seats 35 people, through 2008 and generates approximately $675/month.     The lobby was beautifully redesigned , featuring a granite and cherry wood front desk, visible upon entrance into the hotel. In addition, it was completely repainted, a new tile floor was laid, and modern light fixtures were hung. The renovations established a clean and classy look, complimenting the remaining historic assets.   Located near Pennsylvania State University, the hotel is an ideal stay during football games and other events. Additional area attractions include the many local parks, hunting, fishing, hiking, camping, and seasonal water sports and skiing.               6368 & 6376 Belle Avenue     These two properties are an incredible investment opportunity. Under renovation for 2 years, each have undergone immense improvements. 6368 Belle contains six apartments, a 5,000 square foot showroom and warehouse, perfect for any business or office, and a leased out garage. 6376 Belle contains fourteen apartments, including a large commercial space currently leased to a daycare, which is located on the first floor. Like 6368 Belle, 6376 contains available warehouse space. This would be a great investment for a business wanting commercial space with the perk of having rentals on site, or just for a management company looking to expand their assets. All renovated apartments are currently rented, with the others well on their way to being marketable. The location of 6363 and 6376 Belle Avenue is prime, as it is  set on the Juniata River, which can be viewed from the rear apartments. Entrance to the buildings is set back from the main street, providing a more private access. Parking is available both in front of the apartments as well as in the rear. Laundry facilities are located on the premises.                     87 & 89 Chestnut Street 87-89 Chestnut is a beautiful house, divided into three separate apartments. Apartment #1 is a 3 bedroom, 2 story townhouse with oak hardwood floors. The living room, dining room and kitchen are all located on the first floor with the bedrooms and bathroom on the second floor. Apartment #2 is also a 3 bedroom and the set up is much like #1. Apartment #3 is a large 2 bedroom with oak hard wood floors and a private, rear entrance.                                     81 & 83 Chestnut Street 81-83 Chestnut is an older brick building containing four apartments. 81 Chestnut # 1 is a 2 bedroom, 1st floor apartment with some refinished floors. 81 Chestnut #2 is a 2 bedroom, 2 story (2nd and 3rd floors) with hardwood floor and lots of light. 83 Chestnut has a similar set up to 81 Chestnut, with two 2 bedroom apartments.           52 Chestnut Street         52 Chestnut is a large brick house containing five apartments and a small storefront space. The apartments include a spacious 1st floor 2 bedroom with yard use, a roomy 1 bedroom with an eat-in kitchen and large deck with great views, a cozy, furnished 1 bedroom, a 1 bedroom with large living space, and a unique, third floor, 1 bedroom with a whirlpool tub, skylights and a roof top deck with mountain views. The house has lots of charm and tons of potential.        The first floor storefront space includes a half bath and is ideal for any small business and/or office. At the rear of the house there is a small yard and a two story garage with wood floors that could be converted into offices or apartments.             50 Chestnut Street           50 Chestnut is a beautiful single family home that is currently leased for $425/month. It has a very spacious and well lit interior and a large back yard. Off-street parking is located at the rear in a 2 car car-port.                48 Chestnut Street 48 Chestnut is brick town home with divided into three apartments. The first floor contains a cozy one bedroom and quaint studio with hardwood floors and off street parking. The second floor is a 3-4 bedroom with wood floors, an eat-in kitchen and ample attic storage space.                  48-50 Shaw Avenue 48-50 Shaw is located in a quiet and quaint neighborhood. It holds three apartments, including a 2 story, artsy 2 bedroom, and two cozy 1 bedrooms. There is a garage available for parking at the rear of the house and plenty of easy street parking as well.                             35-37 Valley Street 35-37 Valley holds two apartments and two commercial spaces. The apartments include a large one bedroom on the second floor with new windows, a small den and carpeted floors. The third floor houses a large two bedroom with new windows and hard wood floors. The commercial spaces include a two room office space with a half bathroom and a large showroom space with ample window advertising space.  35-37 Valley is located right near downtown, offering an ideal placement for any small business looking to get clientele using the showroom space.                                    28 Chestnut Street                       22 & 24 Chestnut Street 22-24 Chestnut includes two large apartments and two storefront spaces, ideal for small businesses. Two additional apartments are awaiting renovation.  In addition, there is a storage building in the rear.                     18 South Main Street    18 S. Main is located next door to the Hotel Lewistown, listed at the top of this page. This brick home contains three spacious apartments, with off-street parking available for each. The first floor holds a one bedroom featuring French doors, refinished floors and a fireplace. The second floor is a three bedroom with hard wood floors, tons of space and a rear outdoor balcony. The third floor is a one bedroom with eat-in kitchen, painted wood floors and an outdoor balcony. This house is full of charm and a great rental.         18-20 Chestnut Street 18-20 Chestnut contains four apartments as well as a two commercial spaces. It is awaiting further renovation before leasing.                       1 Shaw Avenue         1 Shaw is an elegant, large home containing seven apartments including four 1 bedrooms and three 3 bedrooms. It holds much character throughout the house, with large windows and hard wood floors accenting the large spaces in each apartment. Great investment opportunity!                                           Place a Bid!