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Key Details
Sold Price $675,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,200 sqft
Price per Sqft $210
MLS Listing ID PAMC2048338
Sold Date 10/14/22
Style Colonial
Abv Grd Liv Area 3,200
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $6,305
Tax Year 2022
Lot Size 6,426 Sqft
Acres 0.15
Lot Dimensions 160.00 x 0.00
Property Description
This is a terrific opportunity for an investor or owner-occupant with a phenomenal location in the quaint village of Spring Mount. 1st time available in nearly 40 years! Low maintenance brick exterior and a new roof in 2/2022. 3 residential apartments and 1 long term ground floor restaurant tenant (sale does not include the pizza shop business). Two of the apartments were fully updated in the last couple of years, the 3rd is well maintained by a long term tenant. Currently a little over a 7 cap, but definite value add candidate as the rents are under market, coin op machines could be added, and there is a possibility to frame out the rest of the 2nd floor area to create another apartment unit (confirm with township for all allowed/approved uses). The first floor has the pizza shop as well as a 1 bedroom apartment, the 2nd floor has two - 2 bedroom apartments. Apartments have access via a side building entrance with common stairwell. Basement houses the boiler units, hot water heaters, and tenant storage. Apartments have always been easy rentals, the Perkiomen Trailhead entrance is 500ft behind the building, and offers a steady flow of customers for the storefront, and is also a great tenant amenity. Agent is a relative of seller.
Location
State PA
County Montgomery
Area Lower Frederick Twp (10638)
Zoning NC
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Ceiling Fan(s), Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade
New Construction N
Schools
School District Perkiomen Valley
Others
Tax ID 38-00-01213-009
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with Brian Tuner • Weichert Realtors