0 Mattison Ave Ambler, PA 19002

This stunning three-story castle, originally built in 1890 and remodeled in 1911 to resemble Windsor Castle, presents a rare redevelopment opportunity. Located in Ambler, Pennsylvania, on a 1.13-acre lot, this 24,466 square foot property is currently vacant and listed at $1,500,000. Extensive renovations totaling over $3,000,000 have been completed since 2019. Approved plans, endorsed by The Preservation Alliance for Greater Philadelphia, envision a mixed-use development including 11 residential apartments and ground-level commercial space, with surface parking. The property is zoned MRH (Mixed Use Residential Historical District), allowing for various uses such as single-family, multi-family, senior living, and mixed residential/commercial office spaces. The building boasts many original features, including custom millwork, stained glass, gilded wallpapered ceilings, and carved marble fireplaces. Situated near the interchange of PA Route 309 and the Pennsylvania Turnpike, this property benefits from a high average household income of $115,565 within a one-mile radius and is surrounded by upscale townhomes and a large senior housing development. Appraisals from 2022 valued the property at $1,900,000 (as is), $4,850,000 (as completed), and $5,000,000 (as stabilized). This is a unique chance to acquire a landmark property with significant potential for substantial returns. Note: This property is being sold via a luxury private auction with a 6% buyer's premium. Additional terms apply.