$3,500,000

256 W Montgomery Ave

HAVERFORD PA, 19041

Description

Well constructed Brick Apartment Building with 13 apartments, with storage units, 7 garages and 22 parking spaces. First Level: 2 two bedroom apartments with 2 baths ($1500 monthly), 1 two bedroom apartment with 1 bath (1500) and 3 one Bedroom apartments ($1000 monthly). Second Level: 2 two bedroom apartments with 2 baths($1500 monthly). 1 two bedroom apartment with 1 bath ($1500 monthly) and 3 one bedroom apartments ($1000 monthly). Lower Level: 1 two bedroom / 2 bath apartment ($1500 monthly) with access to laundry room, storage areas and 7 garages. Tenants pay electric and landlord pays water. Ideal Main Line location within walking distance to Haverford and Suburban Square and the Paoli / Thorndale train line. Located in highly sought after Lower Merion Township School District close to shopping, Haverford College, Bryn Mawr College, Rosemont College, Harcum College & Villanova University. Easy access to major highways and public transportation for an easy commute to Philadelphia. ................................................................................................................................................................................................................. Please Note: Lower Level: the 2 Bedroom, 2 bath is vacant. I do not have rent rolls, but here is the current rental information: First Level: 2 Two Bedrooms rented at $1500 each and 1 Two Bedroom is vacant. 1 One Bedroom rented at $1000 and 2 One Bedroom are vacant...... Second Level: 2 Two Bedrooms rented at $1500 each and 1 Two Bedroom is vacant. 2 One Bedrooms are rented at $1000 each and 1 One Bedroom is vacant. Tenants pay electric and Landlord pays for the oil heat, water and electric for lighting in common areas. I do not have expenses records for the water bills. I do not have expense records for the oil heating costs, however both heating systems are roughly 3 and 10 years old (estimate). Many units have been updated in 2005 (Kitchens, etc) and Firestone Roofing System done in 2007 - 2008. The 7 car garage are currently used by Landlord / Owner. If the 7 Two Bedroom Units were fully rented that would be $1500 x 7 = $10,500 monthly plus 6 One Bedroom Units at $1000 x 6 = $6000 for a total monthly rental of $16,500 monthly / $198,000 yearly rental income.

Details

MLS#PAMC632376
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1970
Days On Site37

Features

SQ Feet19,000
Story(s)0
Units13
ZoningR7

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Area Information

StatePA
CityHAVERFORD
Zip Code19041
AreaLower Merion Twp (10640)
Listing VS Median (in 19041)
Price:
$3,500,000
low | high
Med:
$949,000
100% of Average
SqFt:
19,000
low | high
Med:
2,452
100% of Average
$ / SqFt:
$184
low | high
Med:
$387
60.102540200419% of Average
On Site:
37
low | high
Med:
15
100% of Average
Listing Updated: 01/16/2020
MLS Number: PAMC632376
Listing Provided By:
John F McAleer  of  BHHS Fox Roach-Haverford