$839,900 $4,509 est/mo Sourced by Back At You

79 Gough Ave,Ivyland, PA 18974

Ivyland PA, 18974

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Description

(UPDATES: as of DEC. 11, 2023 - The encroachment has been resolved and the Borough's suit has been settled | As of April 10, 2024 Seller has obtained all final Land Development approvals) Welcome to 79 Gough Avenue, previously the historic Ivyland Hotel. This multifamily investment property currently has 4 apartments. The first and second floor currently contain the 4 apartments. The first-floor decking has all been replaced with new footers, deck structure and Azek wrapped posts to bring some of the history back to this gem. New landscaping all around and parking potential in the back of the building. This cash flowing property of the existing 4 apartments currently captures $6,300 per month which are below market rents. All current leases are month to month. This unique property has custom trim accents & detail that brings back that old world charm & craftsmanship. With inventory of multifamily properties at an all-time low, this provides the savvy investor with the potential to build their portfolio. The third and fourth floor would be the other 4 units providing stunning views of the Borough. The engineered plans, architectural renderings and approved plans are included in the sale. The Land Development Plans have also been submitted to the Borough (Named the Temperance House Lofts). The owner has taken the time & effort to obtain zoning approvals for 4 more additional apartments which would provide the new owner 8 total cash producing apartments. This cash flowing property has the potential with all 8 apartments of $18,000+ per month. A Buyer could choose to keep this as a 4-unit apartment investment or take on the construction project for the additional 4. Great location & convenient to major traffic routes such as 263, 132 and 332 and minutes from the Warminster train station which runs into Center City Philadelphia. Listing Agent must accompany all showings, please see Agent notes in the Listing for details. ( NOTE: No ADA type B units required, no ADA accessibility in the form of a ramp or a chair lift required to the building - Seller is moving forward with recording the plans and posting the escrows for the Land Development. Seller will assign, Buyer will be responsible for the financial escrows and for final responsibility of the Developers Agreement)

Details

MLS#PABU2049806
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1872
Days On Site423
Listing Provided ByKeller Williams Real Estate-Doylestown | Melissa Healy
Buying Commision2.5% Of Gross

Features

SQ Feet5,228
BasementY
ZoningR1
Acreage0.34

Market Activity 18974

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Learn More About This Property

StatePA
CountyBucks
CityIvyland
Zip Code18974
AreaIvyland Boro
School DistrictCentennial
Elementary SchoolMcdonald
Middle SchoolLog College
High SchoolWilliam Tennent
Listing VS Median (in 18974)
Price:
$839,900
low | high
Med:
$475,000
93.445648291463% of Average
SqFt:
5,228
low | high
Med:
2,023
100% of Average
$ / SqFt:
$161
low | high
Med:
$235
3.847676355793% of Average
On Site:
423
low | high
Med:
35.000000
100% of Average
Sourced by Back At You
Listing Updated: July 16, 2024 at 7:09:47 AM PDT