403 Washington Ave Sellersville, PA 18960

Property Details for 403 Washington Ave

Year built

1950

Property size

4,000 SF

Property type

Commercial real estate

Description

This exceptional 7-unit apartment building presents a compelling investment opportunity in Sellersville, Pennsylvania. Boasting a substantial 4,000 square feet, this three-story building underwent a complete renovation in 2024, exceeding $400,000 in improvements. The property features a mix of unit sizes, including five one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and one spacious three-bedroom/two-bathroom unit. All units are currently 100% occupied with one-year leases, generating a verified gross income of $112,000 and a net operating income (NOI) of $99,453, representing an 8.46% cap rate. Pro forma NOI is projected at $108,000, resulting in a 9.19% pro forma cap rate. Significant upgrades include a new roof, re-pointed brick, over 25 new windows, updated electrical systems, new flooring, fresh paint, brand-new baseboard electric heaters in all units, all-new electric water heaters, and completely remodeled kitchens, bedrooms, living areas, and bathrooms. All units are equipped with newer appliances, some stainless steel. The building sits on a corner lot with a private backyard and ten parking spaces. Located in a desirable residential neighborhood near highways, shopping, a police station, and a church, this property offers a strong combination of location, income, and recent renovations, making it an attractive investment. The property is offered fee simple and has a current Certificate of Occupancy.

Location Insight

City

Sellersville

County

Bucks

State

Pennsylvania

Longitude

-75.315793913335

Latitude

40.362681137981