Opportunity to own a quadplex in desirable Lansdale Borough within walking distance to shops and restaurants. This well-maintained property currently generates annual rents of approximately $60,000. All four units were renovated in 2015 and each features 750 square feet with one bedroom, one bathroom, and an in-unit washer/dryer. Two of the four units are furnished and rented on Airbnb for $1,600/month each. The Airbnb stays are always 30 days or greater and attract Merck employees, traveling nurses, college students, and travelers. The remaining two units are unfurnished and rented on an annual basis for $875/month each. The current annual net operating income for the building is $34,500 creating a 6% cap rate. There is an opportunity to convert the two unfurnished apartments to Airbnb and generate an additional $1,400/month. This would drive the potential cap rate to over 8%! Come and see this turnkey opportunity today. Showings Wednesday After 5pm Saturday 12-2
Courtesy of: 20/20 Real Estate Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 26th July, 2021 11:12 PM
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