Value Add Opportunity

Highlights:

• Incredible financial and reposition opportunity
• 2 buildings in quiet New Castle neighborhood
• Beautiful grounds (parcel can be subdivided to separate the buildings if desired)
• Ample parking
• New Boiler and water distribution with warrantee

Description:

This value add opportunity offers a unique opportunity for reposition and multi family investors. Situated on a spacious parcel, this property boasts not one, but two distinct facilities. The first is an impeccably restored mansion spanning 8,800 square feet, currently serving as a charming 4-unit multi-family residence. This restored mansion exudes character and offers an ideal setting for residents seeking a blend of historic charm and modern amenities. Additionally, the property features a purpose-built 71-bed personal care facility. This former personal care facility presents an incredible chance to acquire a distressed sale at a price far below the reconstruction cost, making it an enticing prospect for astute investors. With beautiful grounds, ample parking, and a prime location, this property presents a myriad of possibilities.

The subject site is directly across from New Castle High School on 316-318 Rhodes Place.

The property is situated on 316-318 Rhodes Place and holds two buildings on the site. A 50,000 SF former personal care facility as well as an 8,800 Multi Family property called the Mansion.

Electric and Gas are to the buildings

Documents: