199 W CITY AVE, BALA CYNWYD, PA 19004 (MLS # PAMC636732)

Price $3,499,000
Status Active
Beds 0
Baths 0 Bath
Home size 15,209 sqft
Lot Size 6,099 sqft
Days on Market 31
199 W Avenue is a 21 unit mixed use investment opportunity generating significant cash flow in Bala Cynwyd, Pennsylvania.Surrounded by numerous higher education institutions, located within Lower Merion Township, and with access to great public transportation, this will be a fantastic investment opportunity for years to come.The property is complete with an ideal unit mix. There are 18 studio apartments and 3 commercial spaces. The price, size, and condition of the property attracts very good tenants for the residential units. The location of the property has significant walking and vehicular traffic, sits on major bus lines, is across the street from St. Joseph~s University, and has 44,000 AADT. Very appealing for the three commercial spaces.Pride of ownership is apparent at this property, the last property to be sold from a large multi-family portfolio. The owner has managed the property meticulously and it has been modernized and updated thoroughly. With a basically brand new central heating system, updated systems, and an array of other upgrades, the capital improvements have been exhausted here. The exterior of property has roof with a 10 year warranty and the stone/stucco facade has been freshly redone.City Avenue and the markets surrounding it are flourishing. Both the Lower Merion and Philadelphia sides of City Avenue feature great new and established developments, family friendly neighborhoods, and very good colleges and universities. The Bala Village section of City Avenue, where 199 W City Avenue sits, is the gateway to Lower Merion Township and a center for transit and community focused neighborhoods. This unique geography creates stability and regular appreciation for years to come. The market factors impacting this area and the unique design of this property make this a killer investment opportunity. Please request offering memorandum for further property details. Listing Agent is related to Seller.
Property Type(s): Multi Family
Last Updated 3/19/2020 Year Built 1930
Community LOWER MERION TWP County MONTGOMERY

SCHOOLS

School District LOWER MERION

Additional Details

AIR None
AREA LOWER MERION TWP
CONSTRUCTION Other
HEAT None
HOA DUES None
LOT 6098 sq ft
LOT DIMENSIONS 89.00 x 0.00
SEWER Public Sewer
STYLE Other
TAXES 25003.00
WATER Public
ZONING C2

Location

 

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BrightMLS

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Data last updated: 3/27/20 11:57 PM PDT

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