$3,299,000

199 W City Ave

BALA CYNWYD PA, 19004

Description

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.

Details

MLS#PAMC633634
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1930
Days On Site126

Features

SQ Feet5,972
Story(s)0
Units21
ZoningCAD-BV

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Area Information

StatePA
CityBALA CYNWYD
Zip Code19004
AreaLower Merion Twp (10640)
Listing VS Median (in 19004)
Price:
$3,299,000
low | high
Med:
$425,000
100% of Average
SqFt:
5,972
low | high
Med:
2,050
100% of Average
$ / SqFt:
$552
low | high
Med:
$207
100% of Average
On Site:
126
low | high
Med:
136
92.647058823529% of Average
Listing Updated: 05/28/2020
MLS Number: PAMC633634
Listing Provided By:
Eric D Feinberg  of  Keller Williams Realty Group
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