Price Reduction
Address
660 Loraine Street, Ardmore, PA
Price
$ 899,900
Property Attributes
- MLS#PADE2068094
- TypeMulti-Family
- CountyDELAWARE
- CityArdmore
- AreaHaverford Twp
- Zip19003
- StyleVictorian
- Year Built1925
- Taxes$ 11441
- Price$ 899,900
- Bedrooms6
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.26 Acres
Data Source:
Bright MLS
Property Description
Here is your chance to own a true gem of an updated investment property on the Main Line! 660 Loraine in Ardmore is the ultimate investment property featuring four residential units and an oversized detached 3 car garage. With this property you can obtain residential financing while picking up 5 new streams of income! Investors AND Owner Occupants (yes, there is a vacant unit just for you) this property is the perfect addition to your portfolio. The property features: 1st floor front unit - 1 bedroom 1 bath . 1st floor rear - Studio/Efficiency, 1bath unit. 2nd floor - 3 bedroom 1 bath unit. 3rd floor - 1 bedroom 1 bath unit (can be used as a 2br if living room is utilized as a bedroom). The units have been extensively updated over the last two years including the first floor studio and second floor 3 bedroom being completely renovated including new flooring, kitchens, paint and bathrooms. The other two units have new bathrooms and paint throughout. All of the units have access to outdoor living spaces with the spacious front porch and backyard. The 2nd floor even features a deck which makes for the perfect gathering spot. The driveway features plenty of parking and each unit has a spot available, and Loraine street has plenty of on-street parking for guests and overflow. In the basement you have the common laundry area, individual gas water heaters for each unit and storage space. The oversized 3 car garage is currently fully rented at $945 a month. The roof was replaced in full in 2020 and two water heaters were replaced in 2022. Get your mailbox money from day one! Gross scheduled rents on the building are $6,845 per month with ample upside. Income and expenses are available in the MLS documents section. Schedule your appointment today!
| Price History | |
|---|---|
| 5/28/2024 | Listed $900,000 |
| 6/19/2024 | 1% - $899,900 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Baseboard - Electric |
| Cooling | Window Unit(s) |
| Possession | 0-30 Days CD,31-60 Days CD,61-90 Days CD,Negotiable |
| Roof | Architectural Shingle,Shingle |
| Zoning | R-40 FOUR FAMILY |
| Garage Spaces | 3.00 |
| Architectural Style | Victorian |
| Construction Materials | Frame,Masonry,Aluminum Siding |
| School District | HAVERFORD TOWNSHIP |
| Exclusions | Tenant's Personal Belongings |
| Year Built | 1925 |
| Property SubType | Quadruplex |
| Tax Year | 2024 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | DELAWARE |
| New Construction | No |
| Property Type | Multi-Family |
| MaintenanceExpense | 19070.00 |
| Garage Y/N | Yes |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | North on Bryn Mawr Ave,Right on Haverford Rd,Left onto Loraine. Property will be on the left. |
| ModificationTimestamp | 2024-06-19T12:28:25 |
| City | ARDMORE |
| Buyer Agent Compensation | 2.5 |
| NumberOfUnitsTotal | 4 |
| MLS Area | Haverford Twp (10422) |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 11326.00 |
| Tax Assessed Value | 444970.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 3 |
| Tax Annual Amount | 11441.0 |
| Structure Type | Detached |
| One Bedroom Units Count | 3 |
| NumberOfUnitsVacant | 1 |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 3 |
| Price Per Sq Ft Total AG | 290.95 |
| Acceptable Financing | Cash,Conventional |
| Vacation Rental Y/N | No |
| Virtual Tour | https://view.alcovemedia.com/media/download2.asp?59ED7E243B3B48F5A02361C60EE76751 |
| Total SQFT | 3093 |
| Days on Market | 21 |
| Location Type | Suburban |
| Lease Type | Yearly |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 550-000 |
| Total Actual Rent | 82140.00 |
| Cap Rate | 7.01 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Basement | Full |
| Hot Water | Electric |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Central Air Y/N | No |
| LivingAreaSource | Assessor |
| Three Bedroom Units Count | 1 |
Exterior Features
| Pool | No Pool |
|---|---|
| Parking Features | Private,Lighted Parking |
| Lot Features | Landscaping,Rear Yard,Front Yard |
| Water Source | Public |
| Total Parking Spaces | 8 |
| Garage Features | Garage - Front Entry,Oversized |
| Type of Parking | On Street,Detached Garage,Driveway,Off Street |
| Land Use Code | R-40 |
| Foundation Details | Stone |
| Water View Y/N | No |
| Lot Dimensions | 75.00 x 150.00 |
| Lot Size Acres | 0.26 |
| Lot Size Source | Assessor |
| Land Assessed Value | 121340.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| # of Detached Garage Spaces | 3 |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 19003
Price
Taxes
Visits
Year Built
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