400 Hannum Avenue, West Chester, PA 19380 - Photo 1

1/1

$695,400

Sold
Closed
Multi-Family

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Property Description

Value-add Mixed-Use Quadplex in West Chester Borough situated on a prominent corner lot at Hannum Ave and West Chestnut St consisting of three (3) Apartments and one (1) Retail/Commercial Space (Laundromat). 100% Occupancy -- all 4 units are fully leased, so this is a turnkey asset {3 tenants on annual leases and 1 on a MTM lease). Utilities - separate metered (natural gas/electric). Rents are substantially under market -- major rental upside exists with minor capital enhancements. It's pedestrian-friendly and located near the heart of the Borough with easy walkable access to all the Downtown amenities. The Property consists of two (2) 2BD units and one (1) 1BD unit and one (1) retail/commercial space -- the laundromat has been a 20-Yr tenant. Ample on-street parking for tenants. Inquire about financials (pro forma, rent roll, etc). All units in sound shape, Borough inspection completed last month (Nov 2022). Roof replaced approx 10 years ago and Hot Water Heaters were all replaced in the last 5-7 years. Revenue Opportunity: New Ownership can enact value-add capital enhancements to achieve top-of-market rental rates. Showing Begin on: Wednesday, Dec 14th (please schedule at least 48 hrs in advance).

Full Property Details

Full Property Details for 400 Hannum Ave

General

Sold For: $695,400
Taxes: $4,847 (2022)
Status: Closed
Type: Multi-Family
Source: BrightMLSPhilly
MLS ID: PACT2037280
Added to Site: 1, 138 day(s) ago

Parking

Parking Type: On Street

Location

Area: West Chester Boro (10301)
Municipality: WEST CHESTER BORO
County: Chester
Cross Streets: West Chestnut St
Driving Directions: GPS Suggested

School Information

School District: West Chester Area

Heating & Cooling

Cooling Type: None
Heating Type: Hot Water
Heating Fuel: Natural Gas, Electric
Water Heater: Natural Gas, Oil

Utilities

Sewer: Public Sewer
Water: Public

Structural Information

Architectural Info: Other
Architectural Style: Other
Structure Type: Other
Construction: Brick, Stone, Stucco
Stories/Levels: 0
Square Feet: 4,399
Sq. Ft. Source: Assessor
Living Area: 4,399 Sq. Ft.
Finished Above Grnd: 4,399 Sq. Ft.
Year Built: 1900
Year Built Source: Assessor
Property Condition: Average

Unit Information

1 Bedroom Units: 1
2 Bedroom Units: 2

Lot Features

Lot Size (Acres): 0.03
Lot Size (Sq. Ft.): 1,248
Lot Size Source: Assessor
Lot Dimensions: 0.00 x 0.00
Zoning: COMM/MIXED-USE

Financial Considerations

Price Per Sq. Ft.: $153.44
Assessment Year: 2022
School Tax: $3,135
City/TownTax: $1,076
City/TownTax Freq: Annually
County Tax: $636
County Tax Freq: Annually
Tax w/Assessment: $139,740
Tax Amount: $4,847
Tax Year: 2022
Terms: Standard Sale
Tax Total Finished Sq. Ft.: 4399

Disclosures and Reports

Ownership: Fee Simple
Exclusions: Laundromat Appliances/Equipment, Tenant's Personal Property
Inclusions: Apartment Appliances (3 apartments only), Window A/C Units (6)
Lot Number: 274

Listed by RE/MAX Town & Country, Tameka L Goldsborough
Sold by RE/MAX Town & Country, Lindsey Harlan

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Listing agent

— 400 Hannum Ave —

Tameka L Goldsborough

RE/MAX Town & Country

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Schools

Schools serving 400 Hannum Ave

School District:West Chester Area School District

Name	Grades	Distance
Hillsdale El School 725 West Market Street, West Chester, PA 19382	K-5	0.4 mi
Stetson Middle School 1060 Wilmington Pike, West Chester, PA 19382	6-8	2.5 mi
West Chester Bayard Rustin High School 1100 Shiloh Road, West Chester, PA 19382	9-12	3.4 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 400 Hannum Ave

Date

Details

Price

Change

Source

2/15/2023

Sold

$695,400

3.02%

MLS

12/12/2022

Listed

$675,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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400 Hannum Avenue, West Chester, PA 19380 (MLS# PACT2037280) is a Multi-Family property that was sold at $695,400 on February 15, 2023. Want to learn more about 400 Hannum Avenue? Do you have questions about finding other Multi-Family real estate for sale in West Chester? You can browse all West Chester real estate or contact a Coldwell Banker agent to request more information.

400 Hannum Ave West Chester, PA 19380