A twenty-something duo has purchased a dilapidated silk mill in York. They are turning the structure into high-end apartments for young professionals! The building has been vacant for years and was dragging the neighborhood down (one crappy property will do that).
The two buddies purchased the building for $133,000 in 2009. Now, the three-story, 15,000-square-foot building is home to five one-bedroom and ten two-bedroom apartments. Both owners live in the building with their wives and a young attorney has also moved in. Two more leases have been signed.
This is not the first project these two childhood friends have done together. Prior to this large project they renovated and flipped seven houses. They purchased the Felton general store, renovated it and used the equity to buy the silk mill. In addition to doing the work themselves, both men have day jobs, then come home and work on the silk mill. They are looking at this real estate as income for now and retirement.
Both men want to live in York and have used local services when possible.
An open house will be held on June 26th at 1 pm. The apartments are located at 1410 Monroe St., West York.
Apartments rent for between $800 and $1000 a month. The average size of the apartments is 1,000 square feet. There are many amenities including a fitness center, off-street parking and a roof-top deck in is the works. The apartments are conveniently located near the proposed Hanover extension of the York County rail trail.
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