$2,300,000
$2,299,000
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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
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Bought with Stephen Dibattista • Zommick McMahon Commercial Real Estate