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538 W Market St
PerkasiePA 18944

$450,000
Recently Sold 2/28/2023
Tools
Brochure
Size
2
Bedrooms
11,505 Sq Ft.
interior
Financial
$450,000
Sold 02-28-23
$39
Price Per Sqft
$6,398
Annual taxes
Listing Details
Triplex
Property type
1900
Year Built
5326734
Web Id
2760806-PABU2041706
MLS ID
664
Days Posted

Description

538 W Market St,

Perkasie, PA 18944

Money maker in the heart of Perkasie Borough! 2 residential apartments, 1 commercial unit and 2 rented garages. The first floor offers a 1 bedroom, 1 full bathroom apartment that is currently rented to a long-term tenant for $875 per month. The first floor also offers a separate commercial space with 2 offices, bathroom and Board Room which was recently rented for $1000 per month. The second floor apartment has 3 bedrooms and 1 full bathroom. It includes a porch area as well as an attic that could easily be finished for additional living space to make it a 5/6 bedroom apartment! This unit is vacant but the rental estimate is $1400 as a 3 bedroom. There is also a detached garage with 2 separate bays, each rented for $150 per month. The property is listed at a 7% cap rate based on the income- 1st floor apartment $875 + office (estimate $1000) + 2nd fl apartment (estimate $1400) + $300 for garages for a total yearly income of $42,900. Expenses are taxes $6398 + Insurance (estimate $2000) + W/S/T $1200 + Gas/ electric $1200 for a total of $10798 annually. Net income is $32102. The property is zoned C2 with a TC (Town Center) overlay. There is potential to build a second mixed use structure on the property- confirm specific details with Perkasie Borough. Come take a look, you won't be disappointed!

Price History

datepricevariancetypeglobal
2/27/2023$450,000 1.75 %Soldview listing
1/23/2023$458,000-Contract
1/23/2023$458,000-Contract
1/12/2023$458,000-Listed
Listing By: RE/MAX Reliance via Data Source: Bright MLS 
listing agent: Christine Jasinski


Located at 538 W Market St, Perkasie, Pennsylvania 18944, this listing has been Sold for a price of $450,000 USD. The property was built in 1900, includes 2 bedrooms,. This listing has 11,505 Sq.Ft. of interior space. See all Apartments for Sold in Perkasie.
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