$18,600,000
$18,600,000
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5 Acres Lot
SOLD DATE : 07/11/2023
Key Details
Sold Price $18,600,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PAMC2080806
Sold Date 07/11/23
Originating Board BRIGHT
Year Built 1970
Annual Tax Amount $152,626
Tax Year 2022
Lot Size 5.000 Acres
Acres 5.0
Lot Dimensions 0.00 x 0.00
Property Description
This phenomenal opportunity is a terrific expansion of any real estate portfolio. Woods Edge offers a value proposition and the opportunity to acquire an asset at below market replacement costs. Rental growth will be fueled by the limited new supply of muti-family apts. and the strong job market and growth in this location and all suburban Philadelphia. In addition, it offers a potential opportunity of conversion to for-sale condos.
The proximity to the PA Turnpike’s Northeast Extension, Rt. 309 and 63 and the downtown districts of Lansdale and Ambler Boroughs, quaint Village of Skippack combined with public transportation and Septa R-5 generates tenant demand and the ability to maintain market rents while also offering the possibility of a condo conversion. The multiple business plans ensure the quality of the investment and desirability of this property. Current ownership has held it as an investment in their portfolio for over 30+ years. The property overall has been well maintained and a stable tenant base, with a long-term turnover rate of less than 6% year-over-
year.
Location
State PA
County Montgomery
Area Towamencin Twp (10653)
Zoning MR
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 190.0
Waterfront N
Water Access N
Accessibility Ramp - Main Level, Other
Parking Type Parking Lot
Total Parking Spaces 190
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District North Penn
Others
Tax ID 53-00-09440-002
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with David J. J Caracausa • Coldwell Banker Realty
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