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660 Loraine Street

ARDMORE, PA 19003
  • $900,000
  • STATUS: Active Under Contract
  • ON SITE: 96 Days
  • ID#: PADE2028404
Under Contract
UPDATED: 89 min ago
$900,000
  • 0
    BEDS
  • 0.26
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,093
    SQFT
  • $291
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1925
County:

School Information

High School:
School District:

Description

Here is your chance to own a true gem of an investment property in Ardmore! 660 Loraine is the ultimate investment property featuring four residential apartment units and a detached oversized 3 car income-producing garage! Where else can you get residential financing and pick up 7 new streams of income out of one property purchase? Investors AND Owner Occupants, you will want to consider this property as the first or next addition to your portfolio. Believe it or not, the property is eligible for FHA 3.5% down payment owner occupant financing (buyers should confirm their eligibility with their lender)! The property features the following units: 1st floor front unit - 1 bedroom 1 bath . 1st floor rear - Studio/Efficiency 1bath unit. 2nd floor - 3 bedroom 1 bath unit. 3rd floor - 1 bedroom 1 bath unit (can be used as a 2br if living room is utilized as a bedroom). The units are well maintained include features such as newer luxury vinyl plank flooring, bathroom updates, fresh paint and other upgrades. All of the units have access to nice outdoor living spaces as well such as the 2nd floor deck off of unit 2, the partial wraparound front porch and the rear yard. The driveway features plenty of parking and each unit has a spot available, and Loraine street has plenty of on-street parking for guests and overflow. In the basement you have the common laundry area, individual gas water heaters for each unit and owners storage space. There is ample space in the basement to add tenant storage cages for additional income. There is also additional space for garage expansion on the rear side of the lot. The roof was replaced in full in 2020 and two water heaters were replaced in 2022. Get your mailbox money from day one! Gross scheduled rents on the building are $6365 per month currently with ample upside. Income and expenses are available in the MLS documents section. Be sure to tour the property virtual using the Matterport virtual tour link in the MLS Virtual Tours section. Schedule your appointment today!

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-09-26T23:50:21.04.
www.execuhome.com/homes/130145547
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660 Loraine Street ARDMORE, PA 19003

  • Price: $900,000
  • Status: Active Under Contract
  • On Site: 96 Days
  • Updated: 89 min ago
  • ID#: PADE2028404
0
Beds
0
Baths
0
½ Baths
0.26
Acres
3,093
SQFT
$291
$/SQFT
1925
Built
Neighborhood:
Haverford Twp (10422)
County:
Delaware
Area:
Haverford Twp (10422)
High School:
Haverford
School District:
Haverford Township
Property Description
Here is your chance to own a true gem of an investment property in Ardmore! 660 Loraine is the ultimate investment property featuring four residential apartment units and a detached oversized 3 car income-producing garage! Where else can you get residential financing and pick up 7 new streams of income out of one property purchase? Investors AND Owner Occupants, you will want to consider this property as the first or next addition to your portfolio. Believe it or not, the property is eligible for FHA 3.5% down payment owner occupant financing (buyers should confirm their eligibility with their lender)! The property features the following units: 1st floor front unit - 1 bedroom 1 bath . 1st floor rear - Studio/Efficiency 1bath unit. 2nd floor - 3 bedroom 1 bath unit. 3rd floor - 1 bedroom 1 bath unit (can be used as a 2br if living room is utilized as a bedroom). The units are well maintained include features such as newer luxury vinyl plank flooring, bathroom updates, fresh paint and other upgrades. All of the units have access to nice outdoor living spaces as well such as the 2nd floor deck off of unit 2, the partial wraparound front porch and the rear yard. The driveway features plenty of parking and each unit has a spot available, and Loraine street has plenty of on-street parking for guests and overflow. In the basement you have the common laundry area, individual gas water heaters for each unit and owners storage space. There is ample space in the basement to add tenant storage cages for additional income. There is also additional space for garage expansion on the rear side of the lot. The roof was replaced in full in 2020 and two water heaters were replaced in 2022. Get your mailbox money from day one! Gross scheduled rents on the building are $6365 per month currently with ample upside. Income and expenses are available in the MLS documents section. Be sure to tour the property virtual using the Matterport virtual tour link in the MLS Virtual Tours section. Schedule your appointment today!
Exterior Features

Architectural Style Victorian Construction Materials FrameMasonryAluminum Siding Garage Spaces 3.00 Garage Type Garage - Front EntryOversized Garage YN Yes Location Type Suburban Lot Features LandscapingRear Yard Other Structures Above GradeBelow Grade Parking Features Asphalt DrivewayPaved Driveway Parking Types Detached GarageOff StreetOn Street Patio And Porch Features Porch(Es) Pool No Pool Property Condition ExcellentVery GoodGoodAverage Riparian Rights YN No Roof Architectural ShingleShingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 3093 Basement Interior AccessOutside EntranceUnfinished Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Window Unit(S) Exclusions Tenant's Personal Property Fireplaces Total 0 Heating Hot Water Heating YN Yes Rooms Total 11 Single Room Units 0 Three Bedroom Units 1 Two Bedroom Units 1 Units Furnished None

Property Features

Acceptable Financing CashConventionalFhaVa Accessibility Features None Assessment Year 2022 Central Air YN No Cooling Fuel Electric Cross Street Belmont Existing Lease Type Yearly Foundation Details Stone Heating Fuel Oil Hot Water Electric Insurance Expense 1072.00 Municipality Haverford Twp Navigable Water YN N Net Operating Income 61274.00 New Construction YN No Number Of Units Leased 6 Number Of Units Total 4 Original MLSNumber 801664005664 Ownership Interest Fee Simple Possession 0-30 Days Cd31-60 Days Cd61-90 Days CdNegotiable Property Sub Type Quadruplex Sale Type Standard Sewer Public Sewer Structure Design Type Detached Tax Annual Amount 10856.00 Tax Assessment Amount 444970.00 Tax Lot 550-000 Total Actual Rent 76380.00 Vacation Rental YN No Water Source Public Zoning R-40 Four Family

Listing courtesy of Keller Williams Real Estate - Media: .


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-09-26T23:50:21.04.
 
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