$600,000
$695,000
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7,100 SqFt
SOLD DATE : 02/17/2023
Key Details
Sold Price $600,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 7,100 sqft
Price per Sqft $84
MLS Listing ID PADE2026892
Sold Date 02/17/23
Originating Board BRIGHT
Year Built 1910
Annual Tax Amount $8,048
Tax Year 2021
Lot Size 9,280 Sqft
Acres 0.21
Lot Dimensions 61.70 x 150.42
Property Description
Seven unit apartment building built circa 1900. 3 story frame twin in the Queen Anne
style, listed on the National Register Historic District as a contributing property. The
property was converted into 7 apartments, providing approximately 7,100 sq. ft. of living
space, and consisting of 4- 2BR, LR, 1BA units, 2- 1BR, LR, 1BA units, 1 unit has 1BR,
LR, DR, 1BA and enclosed porch. Rents for the 2 BR units are slightly below market,
rents for the 1 BR units have potential for 10% + rent increases. The current rent role is
$6,985 per month. There is a coin operated laundry in the basement generates an additional $100+ per
month. With some renovation the 1 BR with LR & DR has 20% more rent potential.
One gas fired boiler serves entire building, the A-frame roof was replaced in 2019. The
entire property exterior was re-painted in 2021 and the driveway and parking lot was re-
paved in 2021. There is a two car garage plus parking for five vehicles in the parking
area. Coin operated laundry generates additional $1,200/year. Convenient location close to train and shopping. Lansdowne is 15 minutes to Center City by train. Gross Annual Rent is $83,820. Annual Expenses: Utilities 9,458; Maintenance 2,492; Insurance 4,053; Taxes 20,376 (includes Trash & Sewer). NOI is $47,441.
Location
State PA
County Delaware
Area Lansdowne Boro (10423)
Zoning R
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Garage Spaces 7.0
Waterfront N
Water Access N
Accessibility None
Parking Type Parking Lot, Private Garage
Total Parking Spaces 7
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District William Penn
Others
Tax ID 23-00-01390-00
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Michael Harney • Property Merchants, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "