Bought with Ashley B Swayne • Swayne Real Estate Group, LLC
$1,347,500
$1,500,000
10.2%For more information regarding the value of a property, please contact us for a free consultation.
3,822 SqFt
SOLD DATE : 04/28/2022
Key Details
Sold Price $1,347,500
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 3,822 sqft
Price per Sqft $352
MLS Listing ID PACT2016798
Sold Date 04/28/22
Originating Board BRIGHT
Year Built 1875
Annual Tax Amount $7,582
Tax Year 2021
Lot Size 6,860 Sqft
Acres 0.16
Lot Dimensions 0.00 x 0.00
Property Sub-Type Five Or More Units
Property Description
Excellent Value-Add Opportunity: Ability to Increase Rents 10% to 15% with Minor Upgrades
#1 Highest Per Capita County in Pennsylvania: West Chester Average HHI $100,000+
Unrivaled Location: Located in Downtown West Chester
Desired Unit Mix: One-Bedroom and Three-Bedroom Units
Convenient to Major Arteries: Route 30, Route 202, and Interstate I-76
SEPTA Regional Rail: Walking Distance or Short Drive of Regional Rail Station (Paoli/Thorndale Line)
The property is situated less than a 10-minute drive to SEPTA Regional Rail Station (Paoli/Thorndale Line), which offers tenants convenient access to Center City Philadelphia and the surrounding suburbs. The property offers an exceptional opportunity to establish an immediate footprint in Downtown West Chester. The property sits just blocks from countless bustling restaurants and unique boutiques in a vibrant downtown. As the county seat and one of the most sought-after submarkets in the Philadelphia Metro Area, the West Chester property provides a buyer with a value-add opportunity in an A+ location. A new owner has the ability to increase rents 10% to 15% by completing light upgrades to kitchens and baths. The property is 100% occupied and competing properties in the area are currently and historically 95% occupied or better in this high demand sub-market. The property at 329 E. Miner Street in West Chester presents a rare ability for a new buyer to capitalize on a value-add opportunity in the heart of Chester County.
Location
State PA
County Chester
Area West Chester Boro (10301)
Zoning NC2
Interior
Hot Water Natural Gas
Heating Other
Cooling None
Heat Source Natural Gas
Exterior
Utilities Available Water Available, Natural Gas Available, Electric Available
Water Access N
Roof Type Rubber
Accessibility 2+ Access Exits
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District West Chester Area
Others
Tax ID 01-08 -0512
Ownership Fee Simple
SqFt Source Assessor
Security Features Fire Detection System
Special Listing Condition Standard
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