8831-8837 Gap Newport Pike - Apartments FOR SALE


Avondale, PA 19311
$1,649,000 USD
610-715-0531
8831-8837 Gap Newport Pike, Avondale, PA for Sale
$1,649,000 USD
Apartments - FOR SALE
1/58
null | 8.61% Cap Rate

8831-8837 Gap Newport Pike
Avondale, PA 19311


OVERVIEW

8831 & 8837 Gap Newport Pike offer a unique package of two parcels spanning approximately 2.4 acres, featuring 10 rental units across 5 buildings. The units are fully occupied, with a mix of month-to-month and one fixed lease (renewing July 2026). Current Gross Monthly Rent: $11,650 Current Gross Annual Rental Income: $139,800 (excluding variable water/sewer charges) Average Monthly Rent per Unit: $1,165 The property consists of three 3-bedroom units and seven 2-bedroom units, most featuring 1 full bath, with one unit offering 1½ baths. Seven of the units share a desirable layout with 2 bedrooms, 1 bath, and 1,200+ sq ft of living space, each with separate entrances and attached garages. Several also include finished or finish-ready basements, creating the opportunity to convert to 3-bedroom layouts and maximize rental income. The main house adds three more 2-bedroom units, all well-maintained with long-term tenants. Projected Market Rent (2BR): $1,500+ per month Projected Market Rent (3BR w/ basement conversions): $1,700+ per month With stable income already in place and significant upside through rental increases and unit enhancements, this property is a strong addition to any portfolio. Conveniently located along Gap Newport Pike, the site offers ample parking and a blend of immediate cash flow and long-term appreciation potential. Please do not walk the property or disturb tenants. All showings must be scheduled.

FOR SALE DETAILS

PRICE

$1,649,000 USD

PRICE/SF

$97 USD /SF

# OF UNITS

10

PRICE/UNIT

$164,900

CAP RATE

8.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

20

LAND DETAILS

LAND ACRES

2.34 AC

LAND SF

101,930 SF

ZONING

HC

APN/PARCEL ID

60-003-0030.0200,60-003-0030.0300

ASK ABOUT THIS PROPERTY

Matthew FeldmanFenix Property ManagementMore Info
610-715-0531

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Matthew FeldmanFenix Property ManagementMore Info
610-715-0531

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.