$575,000
$599,000
4.0%For more information regarding the value of a property, please contact us for a free consultation.
3,490 SqFt
SOLD DATE : 09/15/2020
Key Details
Sold Price $575,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,490 sqft
Price per Sqft $164
Subdivision Speedway
MLS Listing ID PABU501672
Sold Date 09/15/20
Style Traditional
HOA Y/N N
Abv Grd Liv Area 3,120
Originating Board BRIGHT
Year Built 1918
Annual Tax Amount $5,406
Tax Year 2020
Lot Size 0.567 Acres
Acres 0.57
Lot Dimensions 144.00 x 140.00
Property Description
Amazing investment opportunity in a great neighborhood! This completely renovated MULTI-UNIT consists of a SINGLE HOUSE, a DUPLEX and an oversized 2-CAR GARAGE with plenty of well-lit driveway parking for tenants with commercial LED pole light on huge .56 acre lot! All units were COMPLETELY RENOVATED in 2016. The single house is currently vacant offering the opportunity to owner occupy and have tenants pay mortgage! This property has had 100% occupancy since 2016 and is always easy to rent, attracting large numbers of applicants! Net rents are $48,550. Offering a 8% Cap Rate!2016 DUPLEX renovations include: New main water line, new roof, new stucco, 2 new panels with all Romex wiring, 2 new water heaters, all new stainless appliances, new kitchen cabinets, new granite counter tops, 2 newly renovated bathrooms, new recessed lighting & ceiling fans in every room. 1st floor has 2 large bedrooms, new vinyl flooring, 2 covered patios, and is 900 sf. 2nd floor has 3 bedrooms with vaulted ceilings, lots of natural light & windows, refinished original yellow pine hardwood floors, in-unit W/D, large deck, and is 900 sf.2016 SINGLE HOUSE renovations include: Newly upgraded 200 amp service, new panel with all Romex wiring, new water heater, new recessed lighting and ceiling fans in every room, new vinyl flooring, all new stainless appliances, new kitchen cabinets, new counter tops, newly renovated bathrooms, 1 covered patio and 1 rear enclosed patio. The main floor has a spacious kitchen (12 x 10), living room (16 x 16), two bedrooms (master 17 x 12) and (11 x 9), a full renovated bath, and pull-down stairs to the attic for great storage. The basement offers two finished areas - the main area is 18 x 16 - and there is a 9 x 9 bonus room, as well as a utility area and laundry room (2 sets of washers & dryers included). TWO-CAR GARAGE has new fluorescent lighting and a huge attic for storage or possible future 2nd story addition. 900 sf. Gross rents are $55,440 - 6,890 (taxes and insurance) = $48,550/600,000 8.1% Cap Rate.
Location
State PA
County Bucks
Area Warminster Twp (10149)
Zoning R3
Rooms
Basement Full, Partially Finished, Windows
Interior
Hot Water Electric
Heating Forced Air
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
Middle Schools Log College
High Schools William Tennent
School District Centennial
Others
Tax ID 49-018-148-002
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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