79 Gough Avenue, Ivyland, PA 18974 | MLS PABU2049806 | Listing Information | Berkshire Hathaway HomeServices Keystone Properties | Berkshire Hathaway HomeServices Keystone Properties
SOLD
$795,000  
Date 09/12/2024

79 Gough Avenue
Ivyland, PA 18974

Multi-Family
Residential Income
8
Beds
5,228
Sq. Ft.
0.34
Acres Lot
Courtesy: Keller Williams Real Estate-Doylestown
(UPDATES: as of DEC. 11, 2023 - The encroachment has been resolved and the Borough's suit has been settled | As of April 10, 2024 Seller has obtained all final Land Development approvals) Welcome to 79 Gough Avenue, previously the historic Ivyland Hotel. This multifamily investment property currently has 4 apartments. The first and second floor currently contain the 4 apartments. The first-floor decking has all been replaced with new footers, deck structure and Azek wrapped posts to bring some of the history back to this gem. New landscaping all around and parking potential in the back of the building. This cash flowing property of the existing 4 apartments currently captures $6,300 per month which are below market rents. All current leases are month to month. This unique property has custom trim accents & detail that brings back that old world charm & craftsmanship. With inventory of multifamily properties at an all-time low, this provides the savvy investor with the potential to build their portfolio. The third and fourth floor would be the other 4 units providing stunning views of the Borough. The engineered plans, architectural renderings and approved plans are included in the sale. The Land Development Plans have also been submitted to the Borough (Named the Temperance House Lofts). The owner has taken the time & effort to obtain zoning approvals for 4 more additional apartments which would provide the new owner 8 total cash producing apartments. This cash flowing property has the potential with all 8 apartments of $18,000+ per month. A Buyer could choose to keep this as a 4-unit apartment investment or take on the construction project for the additional 4. Great location & convenient to major traffic routes such as 263, 132 and 332 and minutes from the Warminster train station which runs into Center City Philadelphia. Listing Agent must accompany all showings, please see Agent notes in the Listing for details. ( NOTE: No ADA type B units required, no ADA accessibility in the form of a ramp or a chair lift required to the building - Seller is moving forward with recording the plans and posting the escrows for the Land Development. Seller will assign, Buyer will be responsible for the financial escrows and for final responsibility of the Developers Agreement)
PABU2049806
Multi-Family, Victorian, 3+ Story
8
BUCKS
1872
0.34 Acres
Public Water
4
Stone
Public Sewer
5,228 Sq. Ft.
5,228 Sq. Ft. (approx)
4 Total
School Information
CENTENNIAL
MCDONALD
LOG COLLEGE
WILLIAM TENNENT
Interior Features
Square FootageAbove (approx)
5,228 Sq. Ft. Above Ground. Sq. Ft. Below Ground.
Flooring
Carpet, Wood
Cooling
None, Electric
Heating
Oil. Radiant, Hot Water.
Plumbing
Electric Water Heater
Basement
Exterior Entry, Full, Unfinished
Additional Interior Features
High Ceilings, Crown Molding
Exterior / Lot Features
Parking
On Street.
Exterior
Stone
Roof
Flat
Pool Description
None
Lot Dimensions
x 123.00
Zoning
R1
Additional Exterior/Lot Features
Corner Lot.
Financial Considerations
$46,000
17-003-057
$9,131
Courtesy: Keller Williams Real Estate-Doylestown
BRIGHT MLS - All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.
This content last refreshed on 10/9/2024 1:36 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.