Price Reduction - Views
Address
79 Gough Avenue, Ivyland, PA
Price
$ 839,900
Property Attributes
- MLS#PABU2049806
- TypeMulti-Family
- CountyBUCKS
- CityIvyland
- AreaIvyland Boro
- Zip18974
- StyleVictorian
- Year Built1872
- Taxes$ 9131
- Price$ 839,900
- Bedrooms8
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.34 Acres
Data Source:
Bright MLS
Property Description
(UPDATES: as of DEC. 11, 2023 - The encroachment has been resolved and the Borough's suit has been settled | As of April 10, 2024 Seller has obtained all final Land Development approvals) Welcome to 79 Gough Avenue, previously the historic Ivyland Hotel. This multifamily investment property currently has 4 apartments. The first and second floor currently contain the 4 apartments. The first-floor decking has all been replaced with new footers, deck structure and Azek wrapped posts to bring some of the history back to this gem. New landscaping all around and parking potential in the back of the building. This cash flowing property of the existing 4 apartments currently captures $6,300 per month which are below market rents. All current leases are month to month. This unique property has custom trim accents & detail that brings back that old world charm & craftsmanship. With inventory of multifamily properties at an all-time low, this provides the savvy investor with the potential to build their portfolio. The third and fourth floor would be the other 4 units providing stunning views of the Borough. The engineered plans, architectural renderings and approved plans are included in the sale. The Land Development Plans have also been submitted to the Borough (Named the Temperance House Lofts). The owner has taken the time & effort to obtain zoning approvals for 4 more additional apartments which would provide the new owner 8 total cash producing apartments. This cash flowing property has the potential with all 8 apartments of $18,000+ per month. A Buyer could choose to keep this as a 4-unit apartment investment or take on the construction project for the additional 4. Great location & convenient to major traffic routes such as 263, 132 and 332 and minutes from the Warminster train station which runs into Center City Philadelphia. Listing Agent must accompany all showings, please see Agent notes in the Listing for details. ( NOTE: No ADA type B units required, no ADA accessibility in the form of a ramp or a chair lift required to the building - Seller is moving forward with recording the plans and posting the escrows for the Land Development. Seller will assign, Buyer will be responsible for the financial escrows and for final responsibility of the Developers Agreement)
| Elementary School | Middle School | High School |
|---|---|---|
| Mcdonald Elementary School | Log College Middle School | William Tennent High School |
| Price History | |
|---|---|
| 5/25/2023 | Listed $975,000 |
| 11/8/2023 | 6% - $925,000 |
| 1/2/2024 | 3% - $899,000 |
| 3/25/2024 | 4% - $869,900 |
| 4/10/2024 | 4% - $839,900 |
General Features
| Interior Features | Carpet,Crown Moldings |
|---|---|
| Sewer | Public Sewer |
| Heating | Hot Water,Radiator |
| Cooling | None |
| Possession | Negotiable |
| Roof | Flat |
| Exterior Features | Sidewalks,Street Lights |
| Zoning | R1 |
| Pool Y/N | No Pool |
| Architectural Style | Victorian |
| Construction Materials | Stone |
| Year Built | 1872 |
| Electric | 200+ Amp Service |
| Property SubType | Other |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | BUCKS |
| New Construction | No |
| Property Type | Multi-Family |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Transportation | Commuter Rail Station 1 to 5 miles |
| Status | ACTIVE |
| Directions | Corner of Gough Avenue & Pennsylvania Avenue,Ivyland PA 18974 |
| ModificationTimestamp | 2024-04-19T12:47:34 |
| City | IVYLAND |
| Buyer Agent Compensation | 2.5 |
| Total Units | 4 |
| MLS Area | Ivyland Boro (10117) |
| Lot Size Square Feet | 14760.00 |
| Tax Assessed Value | 46000.0 |
| Waterfront Y/N | No |
| Street Name | GOUGH |
| Tax Annual Amount | 9131.0 |
| Two Bedroom | 2 |
| Structure Type | Other |
| One Bedroom Units Count | 1 |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 3 |
| Price Per Sq Ft | 160.65 |
| Historic Y/N | Yes |
| Vacation Rental Y/N | No |
| Total SQFT | 5228 |
| Days on Market | 311 |
| Location Type | Corner Lot/Unit |
| Standard Status | Active |
| Year Built Source | Estimated |
| Tax Lot | 057 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Oil |
|---|---|
| Basement | Full,Unfinished,Outside Entrance |
| Flooring | Wood,Tile/Brick |
| Hot Water | Electric |
| Total Stories | 4 |
| Furnished Units | None |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | AVENUE |
| Central Air Y/N | No |
| LivingAreaSource | Assessor |
| Three Bedroom Units Count | 1 |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | On Street |
| Land Use Code | 1011 |
| Foundation Details | Stone |
| Water View Y/N | No |
| Lot Dimensions | x 123.00 |
| Lot Size Acres | 0.34 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 7880.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 18974
Price
Taxes
Visits
Year Built
Walkscore
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