West Chester, PA 19382,705 W MARKET ST
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West Chester, PA 19382,705 W MARKET ST
West Chester, PA 19382,705 W MARKET ST
West Chester, PA 19382,705 W MARKET ST
West Chester, PA 19382,705 W MARKET ST

$1,150,000

Est. payment /mo

$1,195,000

3.8%
Est.Price: ?

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705 W MARKET ST West Chester, PA 19382

8 Beds

4 Baths

4,800 SqFt

SOLD DATE : 07/01/2024

Key Details

Sold Price $1,150,000

Property Type Single Family Home

Sub Type Detached

Listing Status Sold

Purchase Type For Sale

Square Footage 4,800 sqft

Price per Sqft $239

Subdivision West Chester

MLS Listing ID PACT2065964

Sold Date 07/01/24

Style Victorian

Bedrooms 8

Full Baths 4

HOA Y/N N

Abv Grd Liv Area 4,800

Originating Board BRIGHT

Year Built 1875

Annual Tax Amount $8,321

Tax Year 2023

Lot Size 0.971 Acres

Acres 0.97

Lot Dimensions 0.00 x 0.00

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.

Location

State PA

County Chester

Area East Bradford Twp (10351)

Zoning MULTIFAMILY 4 UNIT

Rooms

Basement Full, Unfinished

Main Level Bedrooms 3

Interior

Hot Water Natural Gas

Heating Hot Water

Cooling Central A/C, Multi Units

Fireplaces Number 1

Fireplace Y

Heat Source Electric

Laundry Basement

Exterior

Garage Spaces 10.0

Water Access N

Roof Type Asphalt,Architectural Shingle

Accessibility None

Total Parking Spaces 10

Garage N

Building

Story 3

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Victorian

Level or Stories 3

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District West Chester Area

Others

Senior Community No

Tax ID 51-05 -0095

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Paul M Lott • Keller Williams Real Estate - West Chester
Bought with Margot N Mohr Teetor • RE/MAX Preferred - Newtown Square

Lisa Jackson

License ID: MD (5006876) & DE (RS-0038166)

+1(717) 649-7248

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