403 Washington Ave - Apartments FOR SALE


Sellersville, PA 18960
$1,400,000 USD
484-866-2495
403 Washington Ave, Sellersville, PA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/72
null | 7.1% Cap Rate

403 Washington Ave
Sellersville, PA 18960


HIGHLIGHTS

  • COMPLETELY RENOVATED INSIDE AND OUT - ALL UNITS, ALL ROOFS
  • Brand NEW FLOORING, KITCHENS, BATHROOMS, Vanities, ETC. Must see VIDEO
  • Owners poured their blood sweat and tears into this renovation and it is the gem of the neighborhood.
  • TONS OF SUNLIGHT IN ALL UNITS

OVERVIEW

This stunning, fully occupied, cash-flowing, turnkey, 7-unit multifamily fuels $112,800 in VERIFIED gross income and $99,453 in net income, commanding a 7%+ cap with no work to do for the lucky buyer. Sellers have completely renovated the property, which is the neighborhood's shining gem, with a construction investment of roughly $500K to rehab and update the entire building from roof to basement. Upgrades include Re-pointed Brick, 25+ NEW windows, new electric, new flooring, fresh paint, and brand-new baseboard heaters installed in all units, an updated roof, all-new electric water heaters, and completely remodeled kitchens, BRs, living areas, and bathrooms. All newer appliances, some stainless. NEW LAUNDRY - 2 brand-new coin-operated washer/dryers for the tenants have just been installed. There are five (5) large 1BR/1BA units, one (1) 2BR/1BA, and one (1) very large, 3-story 3BR/2BA. All brand new, clean, friendly tenants that love the rebranding of this property and have 1-year leases. This property is located in Bucks County, next to Grandview Hospital, less than an hour from Philly, and within a quiet residential neighborhood with half-million-dollar homes. Minutes away from highways, shopping, and located near a police station and a church. NOTE - The owners love this property and poured their hearts into the renovations. They are selling to the lucky buyer. One of the sellers is a licensed RE agent. The same seller has a few other multi-families to sell in Allentown.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$350 USD /SF

# OF UNITS

7

PRICE/UNIT

$200,000

CAP RATE

7.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Full RENO - $112K GROSS, BEST IN SHOW

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1950

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,702 SF

ZONING

-

APN/PARCEL ID

39-003-197

ASK ABOUT THIS PROPERTY

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484-866-2495

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484-866-2495

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