Coatesville, PA 19320,150 E LINCOLN HWY
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Coatesville, PA 19320,150 E LINCOLN HWY
Coatesville, PA 19320,150 E LINCOLN HWY
Coatesville, PA 19320,150 E LINCOLN HWY
Coatesville, PA 19320,150 E LINCOLN HWY

$380,000

Est. payment /mo

$427,500

11.1%
Est.Price: ?

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150 E LINCOLN HWY Coatesville, PA 19320

16,032 SqFt

SOLD DATE : 11/20/2015

Key Details

Sold Price $380,000

Property Type Multi-Family

Sub Type Detached

Listing Status Sold

Purchase Type For Sale

Square Footage 16,032 sqft

Price per Sqft $23

Subdivision None Available

MLS Listing ID 1003570779

Sold Date 11/20/15

Style Other

HOA Y/N N

Abv Grd Liv Area 16,032

Originating Board TREND

Year Built 1922

Annual Tax Amount $7,557

Tax Year 2015

Lot Size 5,612 Sqft

Acres 0.13

Lot Dimensions RECTANGULAR

Property Description

TURN-KEY, 9 Unit, Fully Rented, High NOI. RECENTLY UPGRADED, yielding exceptional rent. 16,000+ SF Prime Real Estate consisting of 7 Apartments, and 2 Commercial Lease Spaces. The tenant pays all utilities: Water; Sewer; Electric & Heat (the water is separated/metered separately), except for 2 apartments which the lessor pays Water/Sewer ($139.33 per month total lessor water & sewer bill, included in NOI calculation). The two commercial spaces are located on the ground level and are NNN (tenant pays: Water, Sewer, Electric, Heat, A/C, Maintenance, and Proration of Taxes, Insurance & Trash). The commercial leases have annual rent escalation in the leases, and unit identified as #8 in MLS will increase to $800 on January 1, 2016. All of the apartments have been renovated/upgraded over the past 3 years, w the exception of one unit w long standing lessee (apt 152 3W), all upgrades performed w an eye toward future cost savings when changing tenants, including more costly ceramic tile & hardwood flooring in the high traffic areas - selected for its durability & ease of cleaning, while some other areas are carpeted. Engineering plans have been developed to create 3 addition apartments within the commercial unit which has a storefront on Harmony St., offering potential for even higher return on the space (currently leased by shirt printing business). Each commercial space has its own valuable storefront, one addressed as 150 E. Lincoln Hwy (successful Bakery lessee), and one addressed 151 Harmony St., YES, the building spans the entire depth of the block, creating 2 separate street addresses for one massive building. Being the former "Palace Movie Theater", the interior was a wide open clean slate when developed into apartments, allowing for logically organized apartment layouts without any privacy breaches (not all chopped up), as opposed to the common less valuable result of squeezing multiple units into a less accommodating footprint. All common areas are protected by a centrally monitored smoke detector system ($10,000 installation). All apartments have electric baseboard heat, the commercial spaces have gas heat & Central Air, lessee maintained. Pre-approval Letter or POF required prior to showings. Note: the advertised annual maintenance costs includes supplies

Location

State PA

County Chester

Area Coatesville City (10316)

Zoning C2

Rooms

Other Rooms Primary Bedroom

Basement Full

Interior

Interior Features Store/Office

Hot Water Electric

Heating Gas, Electric, Baseboard

Cooling Central A/C, Wall Unit

Flooring Wood, Fully Carpeted, Tile/Brick

Fireplace N

Heat Source Natural Gas, Electric

Laundry None

Exterior

Utilities Available Cable TV Available

Waterfront N

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade

New Construction N

Schools

High Schools Coatesville Area Senior

School District Coatesville Area

Others

Tax ID 16-05 -0241

Ownership Fee Simple

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Bright MLS (BMLS)
Listed by Sherman B Senn • RE/MAX Professional Realty
Bought with Angela Guidone • BHHS Fox & Roach-Doylestown

Brittney Dumont

+1(215) 499-8751

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