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. 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; Maintenace 2,492; Insurance 4,053; Taxes 20,376 (includes Trash & Sewer). NOI is $47,441.
Courtesy of: Keller Williams Main Line Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 19th August, 2022 3:51 PM (UTC)
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