165 Prospect St Phoenixville, PA 19460
- Small apartment buildings
- 2,000 SF
Current Use by Public Records
- Small apartment buildings
Property Details for 165 Prospect St
- Year built
- 1920
- Property size
- 2,000 SF
- Property type
- Small apartment buildings
Description
This three-story, 2,000 square foot duplex located at 165 Prospect St, Phoenixville, PA 19460, presents a compelling value-add investment opportunity. Built in 1920, the property features two units, each with its own gas and electric meters. Unit #1, currently occupied with a monthly rent of $1,500, boasts a first-floor layout including a living room, kitchen, full bath, and bedroom. A finished lower level adds extra space, including a laundry room and an additional finished room with rear yard access. Unit #2 is currently vacant and offers a living room, kitchen, two bedrooms on the second floor, and a third-floor loft. Both units include in-unit laundry. The property includes two off-street parking spaces. The asking price is $425,000, translating to $212.50 per square foot and $212,500 per unit. The property offers a 7.20% cap rate and is being sold as-is. The anticipated occupancy date is August 1st, 2024. Given Phoenixville's thriving market and high rental demand (with two-bedroom units commanding rents as high as $2250, excluding parking), this duplex presents significant potential for increased rental income and strong return on investment. The fee simple ownership provides complete control and flexibility for the new owner.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenixville
- County
- Chester
- State
- Pennsylvania
- Longitude
- -75.5148497
- Latitude
- 40.133648
