$2,300,000
$2,299,000
For more information regarding the value of a property, please contact us for a free consultation.
5,800 SqFt
SOLD DATE : 09/10/2024
Key Details
Sold Price $2,300,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 5,800 sqft
Price per Sqft $396
Subdivision West Chester Boro
MLS Listing ID PACT2074352
Sold Date 09/10/24
Originating Board BRIGHT
Year Built 1980
Annual Tax Amount $8,026
Tax Year 2024
Lot Size 0.364 Acres
Acres 0.36
Lot Dimensions 0.00 x 0.00
Property Description
Charming Investment Opportunity in West Chester, PA: 6-Unit Apartment Complex
Discover the perfect blend of comfort and investment potential with this remarkable 6-unit apartment complex located in the heart of West Chester, PA. Consisting of two buildings, this property offers a total of six spacious and meticulously maintained units, ideal for both seasoned investors and newcomers to the real estate market.
Property Features:
Two Buildings: The complex comprises two separate buildings, each with its own unique charm and character.
Building A: This building hosts 4 units, all generously sized with 2 bedrooms and 1 bathroom each. These units are thoughtfully designed to maximize space and natural light, offering comfortable living areas that cater to a variety of tenant needs. Each unit also features 2 assigned parking spaces.
Building B: The second building features 2 units, each boasting 3 bedrooms and 1 bathroom or 1.5 baths. These larger units provide ample room for families or individuals seeking more space without compromising on location or convenience.
Key Highlights:
Prime Location: Situated in West Chester, PA, this property enjoys proximity to vibrant downtown amenities, renowned educational institutions, and major transportation routes, enhancing its appeal to prospective tenants.
Strong Rental History: With a history of consistent occupancy and competitive rental rates, this complex represents a stable investment opportunity in a desirable rental market. Many units recently leased and brought up to market rate rent with a strong lease term.
Well-Maintained: The buildings have been meticulously maintained, showcasing pride of ownership and ensuring minimal upkeep for future owners.
Investment Potential:
Income Generation: With six units in total, this property offers immediate income potential from day one.
Expansion Opportunities: There may be potential to increase rental income through strategic upgrades or rental rate adjustments over time.
Diverse Tenant Base: Appeal to a diverse range of tenants, from young professionals to families, thanks to the variety of unit sizes and configurations.
Financial Snapshot:
Detailed financial information available upon request, including current rental income, expenses, and potential for increased cash flow.
Opportunity Knocks:
Don’t miss out on this exceptional opportunity to own a well-maintained 6-unit apartment complex in West Chester, PA. Whether you’re looking to diversify your investment portfolio or expand your real estate holdings, this property promises both immediate returns and long-term growth potential. Schedule your private showing today and envision the possibilities that await with this prime real estate investment.
Contact us for more information and to schedule a tour of this exceptional property.
Location
State PA
County Chester
Area West Chester Boro (10301)
Zoning R2
Interior
Hot Water Electric
Heating Heat Pump(s), Forced Air
Cooling Central A/C
Heat Source Electric, Natural Gas
Exterior
Garage Spaces 16.0
Utilities Available Electric Available, Natural Gas Available
Waterfront N
Water Access N
Accessibility None
Parking Type Driveway
Total Parking Spaces 16
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Westtown Thornbury
Middle Schools Stetson
High Schools Rustin
School District West Chester Area
Others
Tax ID 01-13 -0049
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Stephen Dibattista • Zommick McMahon Commercial Real Estate
Helping real estate be simply, fun and stress-free!