For more information on this property, contact Meredith Jacks at 6104699001 or styerrealestate@gmail.com

1903 Old Swede Road
Douglassville, Pennsylvania PA 19518-9021
Sold For: $1,275,000
Listing ID PABK2006906
Status CLOSED
Sold Date 1/25/2022
Price/SqFt $49.04
SqFt 26,000
Acres 2.440
Year Built 1816

Property Description:

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.

Primary Features

County: Berks
Price/SqFt: 49.04
Property Sub Type: Mixed Use
Property Type: Commercial Sale
Year Built: 1816
Zoning: SFR

Interior

Building Total SqFt Source: Estimated
Central Air: no
Cooling Type: Multi Units
Heating: yes
Heating Type: Other

External

Car Parking Spaces: 15
Construction Materials: Stone
Cooling Fuel: Electric
Foundation Details: Stone
Heating Fuel: Propane - Owned
Hot Water: Propane
Lot Dimensions Source: Assessor
Lot Size Dimensions: 0.00 x 0.00
Lot Size Source: Assessor
Lot Size Units: Square Feet
Navigable Water: no
New Construction: no
Roof: Pitched
Sewer Septic: On Site Septic
Tidal Water: no
Total Garage and Parking Spaces: 15
Type of Parking: Parking Lot, Private Garage
Water Access: no
Water Oriented: no
Water Source: Other
Water View: no

Location

Country: US
MLS Area: Amity Twp (10224)
Municipality: AMITY TWP
Waterfront: no

Additional

Accessibility Features: Doors - Swing In
Base Off Market Date: 2022-01-27T00:00:00+00:00
Business Type: Apartment Building, Other/General Retail, Parking Lot, Storage
Land Use Code: 113
Potential Tenancy: Multiple
Property Manager: N
Property Use: Investment
Year Assessed: 2021
Year Built Source: Assessor

Financial

Association Recreation Fee: N
Automatically Update Tax Values: yes
Buyer Financing: Cash
Ground Rent Exists: no
Lease Considered: no
Net SqFt: 26000
Ownership Interest: Fee Simple
Possession: Settlement
Riparian Rights: no
Sale Type: Standard
Tax Annual Amount: 7703
Tax Assessed Value: 179800
Tax Lot: 5537
Tax Opportunity Zone: N
Tax Year: 2021
Vacation Rental: no

Zoning Info


© 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 Thursday, January 27th, 2022 11:10:14 PM.

Contact - Listing ID PABK2006906

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Meredith Jacks

2089 Pottstown Pike
Pottstown, PA 19465
Phone: 6104699001

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