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3041 W 12th St
Erie, PA 16505
Asking Price
$1.40M
Asset Type
Hotel Hospitality
Class
Class B
What's Special
Below Replacement Cost Acquisition with Immediate Basis Advantage <p><strong>PA Auctioneer: Tammy A. Miller, PA AU005891.</strong></p><ul><li>Below Replacement Cost Acquisition with Immediate Basis Advantage</li><li>Significant Property Improvement Plan (PIP) Work Already Completed</li><li>Strong Value-Add Opportunity Through Operational and Rate Management Upside. Current RevPAR Index of 57%</li><li>Attractive Hospitality Investment with Long-Term Income Growth Potential</li><li>Absentee Ownership.</li></ul>
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NOI
$80,000
Cap Rate
5.71%
DSCR
0.96
Underwater
Cash-on-Cash
-0.74%
Monthly Payment
$6,926.436
Annual Cash Flow
$-3,117.234