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Key Details
Sold Price $800,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,855 sqft
Price per Sqft $280
MLS Listing ID PAMC2020598
Sold Date 03/09/22
Style Colonial
Abv Grd Liv Area 2,855
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $7,625
Tax Year 2021
Lot Size 8,065 Sqft
Acres 0.19
Lot Dimensions 65.00 x 0.00
Property Description
Incredible opportunity to own a multi-unit property that is fully rented in Lower Merion. Properties like this rarely come on the market. All three units have updated kitchens and have been fully rented consistently since the property was purchased. Garage is also rented for additional income. (Garage being sold in "as is" condition.)
First floor unit is a three bedroom, two bath unit that has two extra space for an office or play room. This unit is currently rented but could be an owners unit with income on the top two floors. The first floor has its own entrance while the two additional units share a common door on the side. First floor also has direct access to the basement for storage and laundry as well as access to the driveway for off street parking. Second and third floor apartments are both two bedroom, one bath apartments. There is a shared washer and dryer in the basement that is accessible from rear basement door. Landlord pays for water, snow removal and lawn care and tenants pay for electric and heat. This property is on a great residential street with mostly single family homes. It is close to parks, shopping and transportation. Tenants benefit from the Lower Merion schools too.
Unit 1 - monthly rent - $2,100. Lease ends 8/31/2022
Unit 2 - monthly rent - $1,800. Lease ends 7/31/2022
Unit 3 - monthly rent - $1,300. Lease ends 5/31/2022
(all three units have tenants for more than one year)
Garage - monthly rent - $175. Month to month lease with same tenant for over 7 years.
Because the property is fully rented, there will be three open houses to facilitate viewing the entire property. Any other showings will require at least 24 hour notice,
Location
State PA
County Montgomery
Area Lower Merion Twp (10640)
Zoning RESIDENTIAL - TRIPLEX
Interior
Hot Water Natural Gas
Heating Forced Air, Baseboard - Electric
Cooling None
Flooring Wood, Carpet
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Lower Merion
Others
Tax ID 40-00-19856-003
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Silvia C Cole • RE/MAX Town & Country