Listing IDPABK2006906
Sold For$1,275,000
Sold Date1/25/2022
SqFt 26,000
Acres 2.440
Year Built1816
Property TypeCommercial Sale
Property Sub TypeMixed Use
The property consists of 8 apartment units, 6 income-producing garages, an income-producing shed/storage unit, and 12,400 RSF commercial space. Douglassville is lo-cated in Amity Township, Berks County, along the Schuylkill River. The property is strategically located at the high traffic inter-section of Old Swede Road (PA Route 662) and Boyertown Pike (PA Route 562). • The property features a two-story farmhouse, built in 1816, with additions to expand the farmhouse made in the early 1900s. Currently, the farmhouse consists of (2) large two-bedroom bi-level and three-story apartments and (1) one-bedroom apartment. The basement features a laundry facility and open storage for tenants. • Behind the farmhouse, there is an additional five-unit, two-story building which was constructed in the early 1900s. This building has vinyl siding and a metal pitched roof. It consists of (4) one-bedroom apartment units, (1) two-bedroom apartment unit, (3) two-car garages, and (1) 12 x 24 garage. All apartments in this building have private entrances. 80% of units in this building feature a private patio or balcony. • The third building was built in 1908 and features a three-story 12,400 RSF barn. This is currently leased by Under The Sun, which holds a ten-year lease on the space. Under The Sun is an antique and collectible shop that has been operating at the property since July of 2014. The rental market surrounding 1903 Old Swede Road is robust. The property is currently fully occupied with average in place rents of $903. The owner provides heat and hot water for all buildings. In comparison to surrounding markets, rents are 15% to 20% below market. The property’s location is very attractive to tenants. It provides residents convenient access to U.S. Route 422 and PA Route 724, making it possible for tenants to commute to businesses in the surrounding areas such as Royersford, Collegeville and Reading. In addition, King of Prussia is only a 30-minute car ride. 1903 Old Swede Road presents an excellent value-add opportunity to acquire eight apartment units, six income-producing gar-ages, one income-producing shed/storage unit, and 12,400 RSF commercial space with significant rental upside and minimal deferred maintenance to the next owner. Contact Agent to Obtain Full Offering Memorandum and to Schedule a Tour of this Unique Site.
© 2022 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing courtesy of TCS Management, LLC. Data last updated on Saturday, May 28th, 2022 05:13:52 AM.

Contact - Listing ID PABK2006906

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Meredith Jacks

2089 Pottstown Pike
Pottstown, PA 19465
Phone: 6104699001
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