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Chester 19382
705 W MARKET ST
$1,195,000
Multifamily - In Contract

705 W MARKET ST

WEST CHESTER, PA 19382
bedrooms
Studio
bathrooms
0 Bath
$5,868
Estimated Monthly

About This Property

House hackers and Investor alert! 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.
Unit Size
-
Days on Market
-
Land Size
0.97 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$693
HOA Dues
-
Year Built
1875

Listed By

Paul Lott
Paul Lott
Keller Williams Real Estate - West Chester
Andrew Masson
Andrew Masson
Keller Williams Real Estate - West Chester
Last updated: 13 days ago (Bright MLS #PACT2065946)

Price History

Date / Event Date Event Price
May 20, 2024 In contract -
In contract
May 11, 2024 Listed by Keller Williams Real Estate - West Chester $1,195,000
Listed by Keller Williams Real Estate - West Chester

Property Highlights

Air Conditioning
Fireplace
Parking Details
Parking Features: Driveway, Off Street
Total Garage and Parking Spaces: 12
Interior Details

Interior Information

Living Area Square Feet Source: Assessor

Fireplace Information

Has Fireplace
Fireplaces: 1

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
3 Beds
4 Baths
3,346 ft²
$254/ft²
$849,900 Apr 19, 2022
$849,900 Nov 14, 2022
-
House
5 Beds
4 Baths
3,500 ft²
$429/ft²
$1,500,000 Apr 25, 2022
$1,500,000 Jun 1, 2022
-
Townhouse
Stu
-
-
$1,100,000 Mar 14, 2024
-
-

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By

Building Info

705 West Market Street 705 West Market Street, West Chester, PA 19382
  • 1 Unit for Sale
More about this Building
705 West Market Street
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About Chester


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