OPEN HOUSE - Sunday, February 15th, 12:00 - 1:30 PM. This South Patterson Street property offers a versatile opportunity for an owner-occupant or investor in the Holmes-Foster neighborhood, with a residential layout that supports both single-occupancy use and permitted rental income. The brick ranch-style home includes 2 bedrooms and 1 full bathroom on the main level, along with a full basement featuring an integral garage and a permitted efficiency apartment. The home retains much of its original character, including hardwood trim, ample natural light, and vintage kitchen and bathroom finishes. The property will benefit from updating and general TLC, providing an opportunity to improve functionality and add value over time. Both the main dwelling and the basement apartment hold active rental permits. The property is located within walking distance of downtown State College, the Penn State campus, parks, and local amenities, offering flexibility and long-term potential in one of the Borough’s most highly desirable residential neighborhoods.
If you are looking for a versatile property, tour this carriage home which can serve as both a full-time residence and an investment property or make it a full-time investment. Located just a few miles from downtown State College, shopping centers like Sam's Club, Mt. Nittany Hospital and Penn State, while in Benner Township for flexibility on rental opportunities. Unit 1003 has been completely renovated with beautiful vinyl plank flooring throughout, a brand new kitchen with solid wood cabinetry, stylish countertops, stainless steel appliances, fresh paint, and ductless ceiling mini split cooling installed throughout. This side also boasts 4 bedrooms and 1.5 bathrooms and is currently not rented. Unit 1001 is currently rented and has 3 bedrooms and 1.5 bathrooms. This side has a similar layout without the 4th bedroom on the lower level; instead, it features a 2nd family room. Both units have 1-car garages, laundry hook ups, rear decks, and front porches. The property sits on an acre of land with a new 16x40 shed at the rear of the property giving the new owner room to store lawn maintenance equipment or rent storage to tenants. This is a rare investment opportunity so schedule a tour today to learn more!
Excellent Investment Opportunity in State College. Add two fully rented duplexes to your portfolio with this rare offering on Elmwood Street. Situated on 1.17 acres backing to Spring Creek in a fantastic location near Glenn Park, Slab Cabin Park & the beloved village of Lemont, plus shopping, local eateries, downtown State College, Penn State University & quick access to Route 322/Mt. Nittany Expressway, this property combines strong rental history with unbeatable convenience. The front brick duplex at 824/828 Elmwood Street features a covered front porch & a covered rear second-floor porch. Each unit offers 5 bedrooms & 2 full bathrooms, with leases in place through July 31, 2026. Current lease amounts: Unit #824 is $1,625/month & Unit #828 Elmwood is $1,650/month. Tenants pay electric, cable/internet, & natural gas. The rear wood-sided duplex at 830/832 Elmwood Street boasts a new shingle roof installed in 2025. Unit 830 includes 1 bedroom & 1 full bathroom with a lease amount of $1,025/month, while Unit 832 offers 4 bedrooms & 1 full bathroom with a lease amount of $1,425/month. Leases are secured through July 31, 2026. Tenants pay electric and cable/internet, while the owner covers natural gas for these units. This fully leased property offers secured rental agreements through 2026, ensuring reliable future income & long-term potential in one of the most desirable areas of Happy Valley.
FOUR (4) UNIT INVESTMENT PROPERTY near Penn State University, the Village of Lemont, and downtown State College. Ideal for investors or an owner-occupant seeking affordable living — live in one unit and lease the other three. Situated on a 0.34-acre lot, the property includes two duplex-style buildings: Units 829 Suite A and Suite B are charming one-bedroom apartments, 831 is a meticulously kept two-story, two-bedroom apartment, and 833 is a large one-bedroom apartment with a formal living room, fireplace, a sunroom, and a porch. All units are leased through 2026. With some renovation, an older attached garage offers potential for added storage or another income stream. With strong rental demand and room for future rent increases, this property presents an excellent long-term investment. 24 Hour Notice Required so schedule your showing today!
State College is located in Pennsylvania. State College, Pennsylvania has a population of 40,352. State College is more family-centric than the surrounding county with 31.73% of the households containing married families with children. The county average for households married with children is 30.96%.
The median household income in State College, Pennsylvania is $43,015. The median household income for the surrounding county is $64,995 compared to the national median of $69,021. The median age of people living in State College is 21.5 years.
The average high temperature in July is 82.2 degrees, with an average low temperature in January of 17 degrees. The average rainfall is approximately 41.2 inches per year, with 44.5 inches of snow per year.
