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205 Second & Walnut (Portfolio Sale) Street

GREEN LANE, PA 18054
  • $2,700,000
  • STATUS: Active Under Contract
  • ON SITE: 44 Days
  • MLS #: PAMC2038310
Under Contract
UPDATED: 38 min ago
$2,700,000
  • 0
    BEDS
  • 0.33
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1973
County:

School Ratings & Info

School District:

Description

We are pleased to present the unique opportunity to acquire Green Lane Apartments, a fully occupied 16-unit community in the desirable Montgomery County boro of Green Lane, PA.+GG Located in the heart of downtown Green Lane boro, residents at the community are just steps away from parks, dining, and shopping.+GGThe property features 16 apartments with a unit mix of (8) large 1 Bed-1 Bath and (8) 2 Bed-1Bath units.+GG The majority of units have been renovated in the last year; however, with additional minor cosmetic updates and simple lease renewal management, a new owner has the ability to increase rents by 18%+.+GGCurrent ownership completed an extensive renovation program on the community in the last 14 months which included full renovation of 6 units, moderate renovation of 6 units, roof and window replacement, sewer upgrades, extensive concrete and front entry rebuilds, new locks/fire/smoke system, new parking lot, hot water heater replacements, etc.+GG Typical renovated apartment unit features include in-unit washer/dryers, stainless steel appliances, wood cabinets, granite countertops, updated bathrooms, and LVT plank flooring throughout.+GG Additionally, the open and expansive basement provides for large storage lockers which are not currently being monetized by ownership and provide an additional tenant amenity and potential revenue stream.+GG Owner(s) is a PA real estate licensee

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©2022 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 PORTERPLUS REALTY. 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: 2022-06-29T07:52:34.28.
www.porterplusrealty.com/homes/128736306
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205 Second & Walnut (Portfolio Sale) Street GREEN LANE, PA 18054

  • Price: $2,700,000
  • Status: Active Under Contract
  • On Site: 44 Days
  • Updated: 38 min ago
  • MLS #: PAMC2038310
0
Beds
0
Baths
0
½ Baths
0.33
Acres
1973
Built
Neighborhood:
Green Lane Boro (10607)
County:
Montgomery
Area:
Green Lane Boro (10607)
School District:
Upper Perkiomen
Property Description
We are pleased to present the unique opportunity to acquire Green Lane Apartments, a fully occupied 16-unit community in the desirable Montgomery County boro of Green Lane, PA.+GG Located in the heart of downtown Green Lane boro, residents at the community are just steps away from parks, dining, and shopping.+GGThe property features 16 apartments with a unit mix of (8) large 1 Bed-1 Bath and (8) 2 Bed-1Bath units.+GG The majority of units have been renovated in the last year; however, with additional minor cosmetic updates and simple lease renewal management, a new owner has the ability to increase rents by 18%+.+GGCurrent ownership completed an extensive renovation program on the community in the last 14 months which included full renovation of 6 units, moderate renovation of 6 units, roof and window replacement, sewer upgrades, extensive concrete and front entry rebuilds, new locks/fire/smoke system, new parking lot, hot water heater replacements, etc.+GG Typical renovated apartment unit features include in-unit washer/dryers, stainless steel appliances, wood cabinets, granite countertops, updated bathrooms, and LVT plank flooring throughout.+GG Additionally, the open and expansive basement provides for large storage lockers which are not currently being monetized by ownership and provide an additional tenant amenity and potential revenue stream.+GG Owner(s) is a PA real estate licensee
Exterior Features

Construction Materials BlockStick Built Garage YN No Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 0.00 Cooling Wall Unit Heating Baseboard - Electric Heating YN Yes Net Square Feet 14500.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment Building Central Air YN No Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Municipality Green Lane Boro Navigable Water YN N New Construction YN No Number Of Units Total 16 Original MLSNumber 801556734322 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 8364.00 Tax Assessment Amount 261010.00 Tax Lot 98 Vacation Rental YN No Water Source Well Zoning Ga

Listing courtesy of Kw Commercial.


©2022 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 PORTERPLUS REALTY. 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: 2022-06-29T07:52:34.28.
 
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