Address
705 W Market Street, West Chester, PA
Price
$ 1,195,000
Property Attributes
- MLS#PACT2065964
- TypeContingent
- CountyCHESTER
- CityWest Chester
- AreaEast Bradford Twp
- NeighborhoodWest Chester
- Zip19382
- StyleVictorian
- Year Built1875
- Taxes$ 8321
- Price$ 1,195,000
- Bedrooms8
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage4800
- Lot Size0.97 Acres
Data Source:
Bright MLS
Property Description
House hackers and Investors! Welcome to this fantastic 4-unit multifamily home in the heart of West Chester, Pennsylvania! This property can be used as a student rental as it is located in East Bradford Township just across the street from the borough of West Chester. Rents for student rentals average in the $850-$1000 range per student. Staying within per unit occupancy limits and renting to students could increase rental revenues by more than double current rent rates. Each unit offers comfortable living spaces, and the property is ideal for investors or owner-occupants seeking rental income. For owner occupants, this property could be purchased as a primary residence and the rents could significantly reduce your monthly expense. This parcel is located on a 1 acre lot at the corner of S. Bradford Avenue and W. Market Street in East Bradford Township. The larger lot also provides for possible development potential in the future and is located in East Bradford Township which is just across the street from West Chester borough also providing additional flexibility for renting to students who can easily and safely walk to West Chester University and downtown West Chester. Three spacious units and one efficiency all have a mix of updates and original features. Apartment 1 makes up the lower level and is a spacious 3 bedroom unit with high ceilings, a large central living room, large bedrooms, eat-in kitchen and 1 full bath currently rented for $1650. Apartment 2 is a 2nd floor efficiency with high ceilings, a kitchenette and 1 full bath currently rented for $800. Apartment 3 also on the second floor is a spacious 2 bedroom unit with more high ceilings, a large living room, dining area, kitchen and 1 bath currently rented for $1250. Apartment 4, located on the third floor is another spacious 2 bedroom unit with living room, full kitchen and 1 bath currently rented for $1450. All rents are under market rates. Modest improvements could provide higher rent values. Additional features include a massive front covered porch for entertaining friends and relaxing, separate off street parking for all tenants, incredible corner larger yard, coin-op laundry room with 2 washers and 2 dryers with separate locked door access. Additional storage in basement including a locked owners storage and systems room. Prime location in West Chester, just steps away from the downtown town center area, charming parks, trendy boutiques, delectable dining options, an array of year-round activities to keep you entertained. Whether you're walking to campus or strolling through the scenic streets or enjoying a leisurely afternoon in the nearby parks, you'll appreciate the unparalleled walkability and convenience that this prime location offers. Whether you're looking to invest or live in one unit while renting out the others, this multifamily property offers a great opportunity for significant income. All units have individual meters for electric and gas. Landlord pays water and sewer $3385 annually averaging $282 per month. Common area electricity $1063 annually, averaging $89 per month. Annual waste removal-dumpster $1443, averaging $120/month. Annual insurance Philadelphia Contributorship $2178, averaging $182 per month. Annual landscaping $1250, averaging $104 per month.
| Price History | |
|---|---|
| 5/11/2024 | Listed $1,195,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Hot Water |
| Cooling | Central A/C,Multi Units |
| Possession | Immediate |
| Roof | Asphalt,Architectural Shingle |
| Zoning | MULTIFAMILY 4 UNIT |
| Architectural Style | Victorian |
| Construction Materials | Stone |
| Year Built | 1875 |
| Levels | 3 |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | CHESTER |
| New Construction | No |
| Property Type | Residential |
| HOA / Comm Assn | No |
| Subdivision Name | WEST CHESTER |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE UNDER CONTRACT |
| Directions | On the corner of South Bradford Avenue and West Market Street in West Chester,PA |
| ModificationTimestamp | 2024-06-10T12:39:54 |
| City | WEST CHESTER |
| Buyer Agent Compensation | 2 |
| Senior Community Y/N | No |
| MLS Area | East Bradford Twp (10351) |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 42314.00 |
| Tax Assessed Value | 289560.0 |
| Waterfront Y/N | No |
| Street Name | MARKET |
| Tax Annual Amount | 8321.0 |
| Structure Type | Detached |
| Condo/Coop Association Y/N | No |
| Bathrooms Full Main Level | 1 |
| Bathrooms Count Main Level | 1.00 |
| Price Per Sq Ft Total AG | 248.96 |
| Historic Y/N | No |
| Lease Considered Y/N | No |
| Vacation Rental Y/N | No |
| Total SQFT | 4800 |
| Days on Market | 10 |
| Standard Status | Active Under Contract |
| Year Built Source | Assessor |
| Tax Lot | 0095 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Basement | Full,Unfinished |
| Total Fireplaces | 1 |
| Hot Water | Natural Gas |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | Yes |
| Above Grade Finished Area | 4800 |
| Full Baths | 4 |
| Central Air Y/N | Yes |
| Total Bedrooms | 8 |
| Main Level Bedrooms | 3 |
| Below Grade Finished Area Unit Type | Square Feet |
| LivingAreaSource | Assessor |
| Laundry Type | Basement |
| Below Grade Unfin Area Units | Square Feet |
| Below Grade Unfin SQFT Source | Assessor |
| Below Grade Finished Area Source | Assessor |
| Bedrooms Count All Upper Levels | 5 |
| Bedrooms Count Upper Level 1 | 3 |
| Bedrooms Count Upper Level 2 | 2 |
| Bathrooms Full Upper Level 2 | 1 |
| Bathrooms Full Upper Level 1 | 2 |
| Bathrooms Full All Upper Levels | 3 |
| Bathrooms Count Upper Level 2 | 1.00 |
| Bathrooms Count Upper Level 1 | 2.00 |
| Bathrooms Count All Upper Levels | 3 |
| Above Grade Finished Area Source | Assessor |
| Above Grade Finished Area Unit Type | Square Feet |
| Total Baths | 4 |
Exterior Features
| Pool | No Pool |
|---|---|
| Parking Features | Crushed Stone |
| Water Source | Public |
| Total Parking Spaces | 10 |
| Type of Parking | Driveway,Off Street |
| Land Use Code | R10 |
| Foundation Details | Stone |
| Water View Y/N | No |
| Lot Dimensions | 0.00 x 0.00 |
| Street Suffix | STREET |
| Lot Size Acres | 0.97 |
| Lot Size Source | Assessor |
| Land Assessed Value | 71900.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 19382
Price
Taxes
Visits
Year Built
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