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
11 beds | 6 baths | 6,950 sqft
  • Details
    • Basement
    • City
    • County
    • Property Class
    • Status
    • Style
    • Subdivision
  • Additional Information
    • Condition:
    • Gross SqFt:
    • Heat:
      Hot Water
    • Hot Water:
      Natural Gas
    • Laundry Type:
    • Lot Area Acreage:
    • Lot Description:
    • Lot Dimensions:
      214' X 70'
    • Net SqFt:
    • Ownership:
      Fee Simple
    • Roof:
    • Sewer:
      Public Sewer
    • Structures:
      Above Grade, Below Grade
    • Type:
    • Utilities:
      Cable TV Available, Phone Available
    • Water:
    • Zoning Code:
  • Dimensions

    Stories: Main, Upper 1, Upper 2

  • Amenities & Features
    • Basement Type:
      Full, Outside Entrance, Walkout Stairs
    • Fees
      • Tax Year:
      • Total Taxes:
    • Description

      See Commercial Listing# PACT415216 for itemized apartment rents & descriptions. This 7-unit, 7, 000 SF Mansion can easily be converted back to its original glory as a single-family home, if desired. Turn-Key, 7 unit, fully rented with automatic electronic rents (no checks!), currently creating $63, 476 yr. gross rent. (Group Showing Sat 2/16 @ 2 pm). 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 owner~s 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


    Price range:
    • Average Days on Market Residential

      61 January 2019
      +7.1 % since
      Select a date range above
      +7.1 % since January 2018
    • Average Price per SqFt Residential

      $791 January 2019
      +415.1 % since
      Select a date range above
      +415.1 % since January 2018
    • Total Monthly Inventory January 2019

      Total Units
      +55.2 % since
      Select a date range above
      +55.2 % since January 2018
    • New Listings Residential

      383 January 2019
      +26.4 % since
      Select a date range above
      +26.4 % since January 2018
    • Percent of Asking Price Residential

      96 % January 2019
      -0.9 % since
      -0.9 % since January 2018

    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: 02/22/2019.

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