2333-2335 W Darby Road

Description

Excellent Value-Add Opportunity: $200 to $300 per Month in Upside with RenovationsExcellent Demographics: Average Household Income $144,288 (1-Mile)Proximity to Major Retailers: Whole Foods, Trader Joe+GGs, Apple, Urban Outfitters and Lifetime Fitness are All within 2.5 MilesPublic Transportation: SEPTA+GGs Norristown High Speed Line Located within Walking DistanceBuilt in 1925, the Darby Road property is comprised of two contiguous buildings each containing two apartments on top of a 1,200 SF commercial space. Cold water and sewer are included in the rent, and heat, hot water, and electric are separately metered and paid by the tenant. The property offers an attractive unit mix with 75% studio units and 25% one-bedroom units. Current ownership has renovated one of the studio units and has achieved a rent $200 more than the non-renovated studio units. This presents an excellent value-add opportunity for a new owner to continue renovating the remainder of the units and raise rents by $200 to $300 per unit.The Darby Road property is conveniently located near West Chester Pike (Route 3), City Avenue (Route 1), Lancaster Avenue (Route 30) Interstate-476 and Interstate-76. The property is a short walk to SEPTA+GGs Norristown High Speed Line and is a 7-minute drive to the Ardmore Station which services both SEPTA+GGs Paoli/Thorndale Line and AMTRAK+GGs Keystone Line. Additionally, the property affords residents excellent access to employment centers, shopping and abundant amenities of suburban Philadelphia. The property is located less than one mile of Merion Golf Club, the 6th best golf course in the United States (Gold Digest). Additionally, it is less than 10 minutes of Suburban Square, an open-air shopping mall with some of the area+GGs best restaurants, boutiques, and live events. 2333-35 West Darby Road offers a new owner an excellent value-add opportunity to acquire four apartments and two street-level commercial spaces in Havertown, Pennsylvania.