Sold
CLOSED
701 Weikel Rd
Lansdale PA, 19446
$18,600,000
Sold
CLOSED
Commercial
Built in 1970
This phenomenal opportunity is a terrific expansion of any real estate portfolio. Woods Edge offers a value proposition and the opportunity to acquire an asset at below market replacement costs. Rental growth will be fueled by the limited new supply of muti-family apts. and the strong job market and growth in this location and all suburban Philadelphia. In addition, it offers a potential opportunity of conversion to for-sale condos.
The proximity to the PA Turnpike's Northeast Extension, Rt. 309 and 63 and the downtown districts of Lansdale and Ambler Boroughs, quaint Village of Skippack combined with public transportation and Septa R-5 generates tenant demand and the ability to maintain market rents while also offering the possibility of a condo conversion. The multiple business plans ensure the quality of the investment and desirability of this property. Current ownership has held it as an investment in their portfolio for over 30+ years. The property overall has been well maintained and a stable tenant base, with a long-term turnover rate of less than 6% year-over-
year.
PAMC2080806
MLSⓇ ID
August 15, 2023
Listed
September 18, 2024
Updated
Map
701 Weikel Rd
Lansdale PA, 19446
Interior Features
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central, Natural Gas
Exterior/Building Features
Lot Size
5 Acres
Sewer
Public Sewer
Other Property Details
Area Name
TOWAMENCIN TWP
Taxes
$152,626
Tax Frequency
Annually
Garage
No
Parking Total
190
View
No
County
MONTGOMERY
Water Source
Public
Pool
No
Listed by Non Member, with Non Subscribing Office
Listing Contact: 8445527444
The IDX display contains information sourced from the Bright MLS, Inc. as of 9/18/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 9/18/2024 at 12:18 AM UTC
