- For Sale $1,400,000
- Property Type Other
- Property Size 10,552 SF
- Units 10
- Additional Rent Contact for pricing
- Year Built 1920
- Date Updated Nov 4, 2024
This ten-unit property is comprised of two buildings on conjoining parcels and within walking distance of Downtown Lansdowne and SEPTA’s Lansdowne Station for regional rail and numerous bus routes. This location affords residents access to shops and restaurants in Downtown Lansdowne and Center City Philadelphia.
The property consists of (9) stacked and mirrored one-bedroom/one-bath apartment units, (1) five-bedroom house, and (8) detached income-producing garages. The property is 90% occupied and has run historically at 100% occupancy or better. The owner has had its first vacancy in over four years and has opted to leave it open for marketing purposes.
In the immediate area, properties have run at 95% occupancy or better providing a strong and stable tenant base year over year. The Lansdowne rental market remains strong given the demand for workforce housing. In addition, there are high barriers to entry as there is no available land for new apartment properties to be built, adding to increased demand from renters. Thus, making this an excellent long-term hold for potential buyers.
The Nyack Avenue property is an excellent value-add opportunity for a new buyer. The properties have been well maintained leaving little to no deferred maintenance. Rents are about 10% to 15% below market “as is”. A new owner could raise rents to competitive market rates with little to no updates needed.
The property at 20-24 Nyack Avenue offers potential buyers an excellent long-term hold in highly sought-after Delaware County Pennsylvania.
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Attachments
Highlights
- Rental Upside: Rents are 10% to 15% Under Market As Is
- Strong Occupancy: 100% Occupied with Minimal Turnover
- Capital Improvements: Replacement of Roof and All Individual Gas Fired Boilers within Last 4 Years
- Access to Public Transit: Steps to SEPTA Regional Rail (Lansdowne Station), Bus and Trolley Routes
- Convenient to Major Roadways: Baltimore Avenue, Routes 1 and 13, and Interstates 476, 76 and 95
- Proximity to Areas Top Employers: Mercy Catholic Medical Center, SAP America, Boeing, Harrahs Casino, Riddle Hospital and Delaware County Memorial Hospital
False
Contacts
Location
Getting Around
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Walk Score ®
75/100
Very Walkable
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Bike Score ®
47/100
Somewhat Bikeable
- City Lansdowne, PA
- Zip Code 19050
- Market Philadelphia
Points of Interest
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Lansdowne
0.09 miles
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Fernwood-Yeadon
0.80 miles
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10th Street & Wycombe Avenue
1.12 miles
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10th Street & Mulberry Street
1.12 miles
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10th Street & Ridge Avenue
1.14 miles
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10th Street & Main Street
1.19 miles
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Chester Avenue & Cedar Avenue
1.20 miles
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9th Street & Summit Street
1.21 miles
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9th Street & Cedar Avenue
1.22 miles
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Chester Avenue & Alfred Avenue
1.22 miles
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Giant
0.47 miles
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Sunoco
0.50 miles
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Exxon
0.82 miles
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Conoco
0.87 miles
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Phillips 66
1.38 miles
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Lukoil
1.77 miles
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Blink
2.07 miles
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EVgo
2.34 miles
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Tesla Destination Charger
3.56 miles
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ChargePoint
3.70 miles
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Cobbs Creek Trail Parking
1.74 miles
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Ampro Parking
1.93 miles
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Ampro Employee Parking
1.97 miles
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Sharon HilL Library Parking
2.06 miles
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63rd Street Station
2.22 miles
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Septa Parking Lot
2.94 miles
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Philadelphia Wholesale Produce Overflow Lot
2.96 miles
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Pacifico Airport Valet
2.98 miles
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Winner Airport Parking
3.01 miles
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Holiday Inn Hotel & Suites Philadelphia at Drexel Hill
2.40 miles
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The Gables
3.18 miles
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Days Inn
3.27 miles
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Residence Inn Philadelphia Airport
3.33 miles
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Microtel Inn & Suites
3.53 miles
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Hampton Inn Philadelphia-International Airport
3.56 miles
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Fairfield Inn Philadelphia Airport
3.63 miles
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Extended Stay America - Philadelphia - Airport - Bartram Ave.
3.66 miles
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Four Points by Sheraton Philadelphia Airport
3.67 miles
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Homewood Suites University City
3.68 miles
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Dunkin'
0.17 miles
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Papa John's
0.18 miles
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Zesty Pizza
0.37 miles
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McDonald's
0.41 miles
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#1 Pantry
1.01 miles
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Philly' Buffer
1.09 miles
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Kabab Curry
1.09 miles
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No. 1 China
1.09 miles
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Popeyes
1.18 miles
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Falafel
1.19 miles
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Saints Cyril & Philomena Catholic School
0.19 miles
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Stratford Friends School
0.35 miles
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Lansdowne Friends School
0.44 miles
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Ardmore Elementary School
0.49 miles
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Penn Wood High School
0.66 miles
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Ardmore Avenue Elementary School
0.66 miles
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East Lansdowne Elementary School
0.75 miles
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Park Lane Elementary
0.80 miles
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Saint Charles School
0.89 miles
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Little Flower Manor
0.91 miles
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Kids R Special
1.61 miles
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Saint Carthange Kindergarden
1.70 miles
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BUZ Academy
1.75 miles
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William C. Bryant Kindergarten
1.83 miles
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Scribbles and Giggles
1.85 miles
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Darlene's Wee Care 4 Kids
1.89 miles
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Head Start Learning Tree
1.90 miles
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Upper Darby Kindergarten Center
1.97 miles
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Poppy's Angels
1.98 miles
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P & P Sunnyside Academy II
2.01 miles
Frequently Asked Questions
How much does 20 & 22-24 Nyack Avenue cost?
The space currently listed for sale at 20 & 22-24 Nyack Avenue asks for $1,400,000.
What is the total square footage of 20 & 22-24 Nyack Avenue?
20 & 22-24 Nyack Avenue totals 10,552 square feet.
When was this property built?
20 & 22-24 Nyack Avenue was built in 1920.
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