Lower Merion, PA 19083,222 W LANCASTER AVE
Lower Merion, PA 19083,222 W LANCASTER AVE
Lower Merion, PA 19083,222 W LANCASTER AVE
Lower Merion, PA 19083,222 W LANCASTER AVE
Lower Merion, PA 19083,222 W LANCASTER AVE
Lower Merion, PA 19083,222 W LANCASTER AVE
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$1,200,000

$1,299,000

7.6%
Est.Price: ?

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Est. payment /mo

4,455 SqFt


SOLD DATE : 07/29/2022

Key Details

Sold Price $1,200,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 4,455 sqft

Price per Sqft $269

MLS Listing ID PAMC2036862

Sold Date 07/29/22

Originating Board BRIGHT

Year Built 1898

Annual Tax Amount $13,391

Tax Year 2021

Lot Size 4,684 Sqft

Acres 0.11

Lot Dimensions 66

Property Description

Rare Investment Opportunity in downtown Lower Merion! Property is a cash cow and requires very little landlord involvement and is walking distance to Suburban Square and Amtrak/Septa Trains. This mix-use building contains 4 renovated apartments and 1 two story Commercial Unit. Rents are $200-300 below market as they have not been raised in years. Building has 180 feet of street frontage on the high trafficked corner of W Lancaster Ave and Holland Ave, across from the Ardmore Shopping Center. The condo-like apartments contain high end finishes including stainless steel appliances, hardwood floors, stone counter tops, and glass back-splashes. Two washers and two dryers in basement are coin operated and come with building. Very cleaned basement with recently poured slab.
There are four off-street parking spots, two exterior and two in garage for tenants' use. Opportunity to also charge for parking/garage space. Commercial unit will be delivered vacant - perfect for owner user.

Location

State PA

County Montgomery

Area Lower Merion Twp (10640)

Zoning ASDD1

Interior

Hot Water Electric

Heating Heat Pump(s)

Cooling Central A/C

Flooring Hardwood

Heat Source Electric

Exterior

Waterfront N

Water Access N

Accessibility None

Parking Type None

Garage N

Building

Foundation Slab

Sewer No Septic System

Water Public

New Construction N

Schools

School District Lower Merion

Others

Tax ID 40-00-29964-002

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Christopher J Lombardi • Glen Mary Real Estate LLC
Bought with Stuart Dessner • Prime Realty Group Inc
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