900 Greenwood Ave Jenkintown, PA 19046

Property Details for 900 Greenwood Ave

Year built

1924

Lot size

0.40 lot acres

Property size

5,000 SF

Property type

Commercial real estate

Description

This exceptional Class A multifamily investment property, located at 900 Greenwood Ave in Jenkintown Borough, Montgomery County, Pennsylvania (zip code 19046), presents a compelling opportunity for discerning investors. The property comprises two buildings totaling 5,000 square feet on a 0.4-acre lot, featuring six units—four one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units. A complete renovation in 2018 ensures modern amenities and high-quality finishes. Each unit boasts a dedicated parking space in a convenient parking lot, with an additional six parking spaces available. The property benefits from separate utilities for each unit, allowing for efficient management and cost control. Currently utilized as short-term rentals, generating an average monthly rent of $16,000, the property also includes two detached garages, generating an additional $500 in monthly rental income. The property's strong performance is reflected in a 9.60% cap rate and a net operating income (NOI) of $174,568. Financial statements are available upon request. Its prime location offers easy access to public transportation and the vibrant Jenkintown Borough. The property's corner location and permitted multi-family zoning provide significant upside potential. This is a turnkey investment ready for immediate income generation, with the flexibility to continue as short-term rentals, long-term rentals, or a combination of both. The property is zoned for multi-family use. Built in 1924, this property offers a blend of historic charm and modern updates.

Location Insight

City

Jenkintown

County

Montgomery

State

Pennsylvania

Longitude

-75.1236718

Latitude

40.0940363