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Key Details
Sold Price $432,950
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,526 sqft
Price per Sqft $283
MLS Listing ID PADE503958
Sold Date 01/31/20
Style Converted Dwelling
HOA Y/N N
Abv Grd Liv Area 1,526
Originating Board BRIGHT
Year Built 1955
Annual Tax Amount $5,504
Tax Year 2019
Lot Size 7,623 Sqft
Acres 0.18
Lot Dimensions 66.00 x 160.00
Property Description
Great investment opportunity in the heart of Wayne! This charming cape is only steps to multiple parks, close to Septa's Strafford station, the Radnor Trail, shops and restaurants. The current owner has meticulously maintained this turn-key duplex with a solid rental history. The main floor unit has two bedrooms and one bath. It features a wood-burning fireplace and front porch that rents for $1500/month. The upstairs unit rents for $1000/month. This unit has one bedroom and one bath. This unit has a family room, eat-in kitchen and a spacious balcony. Both units are on an annual lease up to March 2020. Each unit has its own washer and dryer. Tenants pay their own electric. The owner pays water, sewer and trash. With annual expenses of $2700, this investment property has a solid 6.4% cap rate. Both units are currently under market value for rents in this area. Not interested in being a landlord? This spacious house can be easily converted back to a single-family home that could support 4 bedrooms and 2 plus bathrooms. Run the comps for single-family homes and you will see that this is a solid investment. Either way, this property is sure to produce an attractive ROI.
Location
State PA
County Delaware
Area Radnor Twp (10436)
Zoning RESIDENTIAL
Rooms
Basement Full
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling None
Fireplaces Number 1
Fireplace Y
Heat Source Natural Gas
Exterior
Utilities Available Above Ground, Cable TV Available
Waterfront N
Water Access N
Roof Type Shingle
Accessibility None
Parking Type Driveway, On Street
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade, Below Grade
New Construction N
Schools
Elementary Schools Wayne
Middle Schools Radnor
High Schools Radnor
School District Radnor Township
Others
Tax ID 36-06-03442-00
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Negotiable, Private
Listing Terms Cash, Conventional, Negotiable, Private
Financing Cash,Conventional,Negotiable,Private
Special Listing Condition Standard
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Bought with Connor Eichman • Long & Foster Real Estate, Inc.
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