For Sale

Description

*** INVESTOR ALERT *** BUILDER ALERT ** Triplex situated on a lot that is large enough to subdivide and build additional single family home(s). Preliminary discussions with the Bridgeport Zoning Officer and Borough Manager have determined that the Borough would almost certainly approve a subdivision to allow one detached single family home. Furthermore, consideration would also be given to detailed plans for one set of twin homes or even possibly 3 attached townhomes if existing parking is reconfigured while still meeting setback requirements. Note that buyers and their agents should not rely on representations of sellers' and/or sellers' agent. Buyer and Buyer's agent should do their own due diligence and consult with Borough of Bridgeport Zoning Officer about allowed uses and any other zoning related questions before making any offers (or provide for a reasonable due diligence period after Sellers' acceptance of an offer to allow time to do their own investigation). The triplex is in very good condition (inside and outside) and is profitable despite the owner having kept the rents low for the long-time tenants. Contains two 1 bedroom apartments and one very large 3 bedroom apartment. The 3 bedroom apartment is featured in the pictures from a time when it was vacant. No pictures are available for the 1 bedroom apartments as they are occupied and to preserve the tenants' privacy. Bringing the rent up to fair market value (even using conservative FMV estimates) would result in capitalization rate of at least 6.5% before taking into account the value of the buildable lot(s). Each tenant pays for own heat, hot water, and electric. Net income schedule for triplex and seller's disclosure will be provided to serious prospects upon request. Bridgeport is conveniently located between King of Prussia and Norristown with easy access to Routes 476, 202, 76, Turnpike and more. For commuters to Philadelphia, Septa's high speed rail line is just 1 block away; helping to make the unites easy to rent. Sellers prefer not to disturb tenants with an inordinate amount of showings and asks that interested buyers first visit the outside of the property to determine if the grounds might suit their desires..Then, if satisfied, a second visit can be arranged to view each apartment. Listing agent is happy to answer any questions and to meet with buyers and their agent at the property. Feel free to contact listing agent with any questions or to schedule a visit.