106 Lansdowne Ave Lansdowne, PA 19050

Property Details for 106 Lansdowne Ave

Year built

1930

Property size

20,880 SF

Property type

Commercial real estate

APN

23-00-01842-00

Description

This exceptional 12-unit apartment building, located at 106 S Lansdowne Ave in Lansdowne, Pennsylvania, presents a compelling investment opportunity. The property boasts a total of 20,880 square feet, situated on a 10,848 square foot lot. Built in 1930 and extensively renovated in 2022, this three-story building features all two-bedroom units, currently enjoying 100% occupancy. Recent capital improvements include a new roof, HVAC system, plumbing, decks, kitchens, bathrooms, and hot water heaters. The property's strong performance is reflected in its pro-forma NOI of $127,014 and a 7.06% pro-forma cap rate. The asking price is $1,800,000, or $150,000 per unit. Its prime location offers easy access to SEPTA's Lansdowne Station, major roadways (Routes 1, 13, 30, Interstates 476, 76, and 95), and Baltimore Avenue. The property benefits from its proximity to major employers such as Mercy Catholic Medical Center, SAP America, Boeing, Harrah's Casino, Riddle Hospital, and Delaware County Memorial Hospital. The building is zoned for commercial use and offers a strong, stable tenant base in a high-demand area with limited new construction possibilities, making it an ideal long-term investment. The historically high occupancy rate (95% or better) further underscores the property's consistent profitability and resilience within the Lansdowne rental market. This meticulously maintained property combines historic charm with modern amenities, providing a desirable living experience for tenants and a robust return for investors. The property's fee simple ownership provides complete control and flexibility. The APN is 23-00-01842-00.

Location Insight

City

Lansdowne

County

Delaware

State

Pennsylvania

Longitude

-75.2711958

Latitude

39.9341879