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
-
0BEDS
-
0.2ACRES
-
0BATHS
-
01/2 BATHS
-
3,500SQFT
-
$200$/SQFT
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
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Shawn Martin Group | Keller Williams Flagship of Maryland. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-06-05T21:51:20.66.