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900 Greenwood AveJenkintown, PA 19046

High-Yield Investment Opportunity in PA

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Class A, 6-unit apartment building with a 9.60% cap rate and $174,568 NOI.
  • Completely renovated in 2018.
  • Six parking spaces (one per unit) plus two detached garages generating additional income.
  • Located in Jenkintown Borough, Pennsylvania, near public transportation.
  • Each unit features separate utilities and in-unit laundry.
  • The property consists of two buildings on a 0.4-acre lot.

Property Details for 900 Greenwood Ave

Property type
Apartment buildings
Square Feet
5,000 SF
Class
A
Year Built/Renovated
1924/2018
Buildings
2
Lot Size (sq. ft)
17,424 SF
Units
6

Location Insight

City
Jenkintown
County
Montgomery
State
Pennsylvania
Latitude
40.0940363
Longitude
-75.1236718
900 Greenwood Ave, Jenkintown, Pennsylvania

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900 Greenwood Ave
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