For Sale
$665,000

504 Chestnut StPottstown, PA 19464

Prime location, high potential, multifamily conversion.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional redevelopment opportunity encompasses two adjacent properties totaling approximately 15,480 square feet situated at 504-512 Chestnut Street in Pottstown, Pennsylvania's Traditional Town Neighborhood Zoning District. The combined parcels, previously listed at $1,000,000, are now offered at a significantly reduced price of $665,000. The main structure at 504 Chestnut Street (formerly 68 N Washington St) is a former warehouse building featuring approximately 11,280 square feet, plus a 3,960 square foot house with a 1,280 square foot basement. The adjacent building at 512 Chestnut Street is a 3,750 square foot concrete block structure. An additional 400 square feet of attached space connects the two warehouse buildings. The properties boast two freshwater wells and are fully paved. Recent upgrades include the installation of natural gas (meter not yet set) and three-phase power availability on Chestnut Street. While the structures are sound, some cosmetic and structural repairs are needed, including repainting and roof repair on the warehouse at 504 Chestnut Street. The second floor of the 512 Chestnut Street building requires floor repair. The property's zoning allows for residential development, aligning with the borough's desire for increased residential units, such as apartments or condos. A similar warehouse conversion project was completed nearby in 2016. The seller is open to various purchase options, including partnerships, financing, and cash offers, and is prepared to assist the buyer in achieving a profitable acquisition. Combined property taxes are reflected in the MLS listing.

Highlights

  • Asking Price: $665,000
  • Property Type: Multifamily Apartment Building Redevelopment Opportunity, totaling approximately 15,480 square feet, at a price per square foot of $42.96.
  • Located at 504-512 Chestnut St, Pottstown, PA 19464, in the Traditional Town Neighborhood Zoning District.
  • The property comprises two parcels: a warehouse with approximately 11,280 square feet and a house with approximately 3,960 square feet, plus basements. Additional structures total approximately 400 square feet.
  • Features include two freshwater wells, full paving, and recently installed natural gas (meter not yet set). Three-phase power is available. The buildings require some repairs and roof replacement.

Property Details for 504 Chestnut St

Property type
Apartment buildings
Square Feet
15,480 SF

Location Insight

City
Pottstown
County
Montgomery
State
Pennsylvania
Latitude
40.246287515397
Longitude
-75.641832051817
504 Chestnut St, Pottstown, Pennsylvania

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504 Chestnut St
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