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Key Details
Sold Price $1,200,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 4,455 sqft
Price per Sqft $269
MLS Listing ID PAMC2036862
Sold Date 07/29/22
Originating Board BRIGHT
Year Built 1898
Annual Tax Amount $13,391
Tax Year 2021
Lot Size 4,684 Sqft
Acres 0.11
Lot Dimensions 66
Property Description
Rare Investment Opportunity in downtown Lower Merion! Property is a cash cow and requires very little landlord involvement and is walking distance to Suburban Square and Amtrak/Septa Trains. This mix-use building contains 4 renovated apartments and 1 two story Commercial Unit. Rents are $200-300 below market as they have not been raised in years. Building has 180 feet of street frontage on the high trafficked corner of W Lancaster Ave and Holland Ave, across from the Ardmore Shopping Center. The condo-like apartments contain high end finishes including stainless steel appliances, hardwood floors, stone counter tops, and glass back-splashes. Two washers and two dryers in basement are coin operated and come with building. Very cleaned basement with recently poured slab.
There are four off-street parking spots, two exterior and two in garage for tenants' use. Opportunity to also charge for parking/garage space. Commercial unit will be delivered vacant - perfect for owner user.
Location
State PA
County Montgomery
Area Lower Merion Twp (10640)
Zoning ASDD1
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Flooring Hardwood
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type None
Garage N
Building
Foundation Slab
Sewer No Septic System
Water Public
New Construction N
Schools
School District Lower Merion
Others
Tax ID 40-00-29964-002
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Stuart Dessner • Prime Realty Group Inc
"Jon's passion for real estate and his love for Virginia are a perfect match. He has made it his mission to help local residents sell their homes quickly and at the best possible prices. Equally, he takes immense pride in assisting homebuyers in finding their perfect piece of paradise in Virginia."
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