Chester Homes for Sale, Coatesville Real Estate Listings, 524 E Lincoln Hwy, Exclusive Listing Luxury Homes, Condos, Estates for Sale
524 E Lincoln Hwy
  • Coatesville, PA 19320
$349,900
0.30 acres | 7,814 sqft
  • Details
    • City
      Coatesville
    • County
      Chester
    • Property Class
      Commercial Sale
    • Status
      Active
    • Type of Property
      Five Or More Units
  • Additional Information
    • Building Facade Orientation:
      West
    • Condition:
      Average+
    • Gross SqFt:
      6,950
    • Heat:
      Hot Water, Zoned
    • Hot Water:
      Natural Gas
    • Lot Area Acreage:
      0.3
    • Lot Description:
      Level
    • Lot Dimensions:
      214 feet x 70 feet
    • Ownership:
      Fee Simple
    • Roof:
      Shingle
    • Sewer:
      Public Sewer
    • Structures:
      Above Grade, Below Grade
    • Total Units:
      7
    • Type:
      Commercial Sale
    • Utilities:
      Cable TV Available, Natural Gas Available, Electric Available
    • Water:
      Public
    • Zoning Code:
      C2
  • Fees
    • Tax Year:
      2019
    • Total Taxes:
      $8,150
  • Description

    (Group Showing Sat 2/16 @ 2 pm). Turn-Key, 7 unit, fully rented with automatic electronic rents (no checks!). The 6 residential apartments average $824 per month, resulting in high NOI and ROI. In addition to the apartments, the detached 3 car garage with service pit, loft, and decommissioned bathroom facility, fronting on Harmony St., is rented for an additional $310mo. The garage has been continuously rented for the entire duration of the landlord's ownership. Additional income is produced by storage rental units located in the basement (on leases) and a coin-op laundry in the basement, which is managed by a coin-op laundry company (no landlord interaction needed, the equipment is owned and serviced by the coin-op management company). The electrical is upgraded with circuit breakers and separate meters for each unit. Tenants also pay heat based on actual use. Service provided by Energy Management System (EMS). A single gas fired boiler heats the entire building and the EMS system measures the amount of heat used by each unit. In addition to actual heat used, tenants also pay a $30/mo flat fee for hot water. Landlord pays sewer, water, and trash.The on-street parking removes the maintenance cost and liability of a parking lot. On-street parking is plentiful in front of the subject building. A convenient adjoining parking lot is available to the tenants if desired, for $30/month, courtesy of the neighboring landlord. This beautiful 7, 000 SF Victorian Mansion was ideal for creating 6 large apartments without being all chopped-up, many with private balconies and porches, plus a common space with a wraparound porch. Situated in a beautiful location across from the renovated Public Library, the gorgeous New Life Christ Fellowship Church is one door down, and the Genesis A.M.E. Zion Church is the next property on 5 th Ave. Zoned mixed use, office, professional & retail use permitted (currently all residential use due to owners preference). All rents are paid via stress-free automated Electronic Payment, 5 units are tenant paid, and two are HUD paid via section 8. Priced to sell, based on the Comps, the most recent Comp is the best match and most heavily weighted. 402W Lincoln Hwy, settled 1/7/19, $360, 000, 6 unit (verse 7 unit subject property), 4, 400SF verse (7, 000 SF subject property), $4, 150 mo projected rents, with only 1 unit rented (verse $5, 290 actual monthly rents of the subject property). Showings will be grouped together in an effort to minimize inconveniences to the tenants. The first showing group is on Saturday 2/16 @ 2 pm. The second showing group is scheduled for Monday 2/18 @ 3 pm. The group schedule can be changed if multiple prospects need a different day/time. Listing Agent present for all showings. Seller will respond to offers on 2/19. If an agreement is not reached, additional group showings will be scheduled. Pre-approval/Letter for commercial financing (5+ unit require commercial financing) or, if cash, reasonable POF required prior to showing. Notify listing agent for showing (buyer agents, please use ShowingTime). The property is fully rented at time of advertisement, and maintaining full occupancy is intended, however, there is no guarantee, credit, or contingency provided if one or more tenant(s) moves out prior to settlement.

Chester County

About this Area

Chester County

Chester County is one of Pennsylvania’s three original counties created by William Penn in 1682. Located approximately 45 minutes west of Philadelphia, its population is almost 500,000, according to the 2010 U.S. Census. The area’s wealthiest residents are a mix of old and new money. A large chunk of Philadelphia’s western Main Line suburbs are in Chester County along with well-appointed,...

Chester County

Statistics

Price range:
  • Average Days on Market Residential

    79 March 2019
    +13.1 % since
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    +13.1 % since March 2018
  • Average Price per SqFt Residential

    $220 March 2019
    +47.4 % since
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    +47.4 % since March 2018
  • Total Monthly Inventory March 2019

    422
    Total Units
    -79.2 % since
    Select a date range above
    -79.2 % since March 2018
  • New Listings Residential

    14 March 2019
    -97.3 % since
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    -97.3 % since March 2018
  • Percent of Asking Price Residential

    98 % March 2019
    -0.3 % since
    -0.3 % since March 2018
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Local Information

Local Information

Understand the educational environment and opportunities around this area before moving in.
Coatesville Community Christian School
Type: Private
Level: N/a
Scott Middle School
Type: Public
Level: 6-8
Graystone Academy Cs
Type: Charter
Level: K-5
Coatesville Area Senior High School
Type: Public
Level: 9-12
Reeceville El School
Type: Public
Level: K-5
North Brandywine Middle School
Type: Public
Level: 6-8
Rainbow El School
Type: Public
Level: K-5
Friendship El School
Type: Public
Level: K-5
East Fallowfield Elementary School
Type: Public
Level: K-5
South Brandywine Middle School
Type: Public
Level: 6-8

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Listing courtesy of RE/MAX Professional Realty.

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Data last updated: 04/26/2019.

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