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Key Details
Sold Price $610,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $101
MLS Listing ID PABU2049050
Sold Date 07/14/23
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $5,176
Tax Year 2022
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 0.00 x 0.00
Property Description
Very rare opportunity to buy a Quadruplex in Feastevrille Trevose PA. South after neighborhood in Bensalem school district and great demand for rental properties. The property consist of two Commerical buildings: Legal 4 unit residence 3500 sq ft (all 1 bdr units) and 2500 sq ft garage/warehouse/workshop.The property features:
- all units feature recent cosmetic updates within last 5 years
- all good paying tenants with mo/mo leases (rent under market value)
- central air in each unit ; w/d in each unit
- Current gross rent $45,600 (under market value) - rents 900, 900, 900,1100. Garage is owner occupied
- Projected market rent ($1300-1400/per unit plus $2500-3000 for a garage) $97,200 Gross income
- Expenses: $5,176; Water/sewer: $3000; Insurance: $3000, Maint/repairs: $4800
- Projected Net Income $81,224
- Projected Cap Rate 10%
This is a value add opportunity in the great neighborhood with low housing inventory and very high rental demand! Lots of potential with great returns.
SHOWING SATURDAY MAY 13TH - contact for the time
Location
State PA
County Bucks
Area Bensalem Twp (10102)
Zoning C
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 13.0
Waterfront N
Water Access N
Accessibility None
Parking Type Parking Lot
Total Parking Spaces 13
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Bensalem Township
Others
Tax ID 02-005-153
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Mary Ann O'Keeffe • Keller Williams Real Estate - Newtown
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