705 West Market Street

West Chester, PA 19382

$1,195,000
Price
8
Beds
4
Baths
4,800 Sq. Ft.
$249 / Sq. Ft.
4,800
Sq. Ft.
$249
per Sq. Ft.

Description

House hackers and Investors! Welcome to this fantastic 4-unit multifamily home in the heart of West Chester, Pennsylvania! This property can be used as a student rental as it is located in East Bradford Township just across the street from the borough of West Chester. Rents for student rentals average in the $850-$1000 range per student. Staying within per unit occupancy limits and renting to students could increase rental revenues by more than double current rent rates. Each unit offers comfortable...House hackers and Investors! Welcome to this fantastic 4-unit multifamily home in the heart of West Chester, Pennsylvania! This property can be used as a student rental as it is located in East Bradford Township just across the street from the borough of West Chester. Rents for student rentals average in the $850-$1000 range per student. Staying within per unit occupancy limits and renting to students could increase rental revenues by more than double current rent rates. Each unit offers comfortable living spaces, and the property is ideal for investors or owner-occupants seeking rental income. For owner occupants, this property could be purchased as a primary residence and the rents could significantly reduce your monthly expense. This parcel is located on a 1 acre lot at the corner of S. Bradford Avenue and W. Market Street in East Bradford Township. The larger lot also provides for possible development potential in the future and is located in East Bradford Township which is just across the street from West Chester borough also providing additional flexibility for renting to students who can easily and safely walk to West Chester University and downtown West Chester. Three spacious units and one efficiency all have a mix of updates and original features. Apartment 1 makes up the lower level and is a spacious 3 bedroom unit with high ceilings, a large central living room, large bedrooms, eat-in kitchen and 1 full bath currently rented for $1650. Apartment 2 is a 2nd floor efficiency with high ceilings, a kitchenette and 1 full bath currently rented for $800. Apartment 3 also on the second floor is a spacious 2 bedroom unit with more high ceilings, a large living room, dining area, kitchen and 1 bath currently rented for $1250. Apartment 4, located on the third floor is another spacious 2 bedroom unit with living room, full kitchen and 1 bath currently rented for $1450. All rents are under market rates. Modest improvements could provide higher rent values. Additional features include a massive front covered porch for entertaining friends and relaxing, separate off street parking for all tenants, incredible corner larger yard, coin-op laundry room with 2 washers and 2 dryers with separate locked door access. Additional storage in basement including a locked owners storage and systems room. Prime location in West Chester, just steps away from the downtown town center area, charming parks, trendy boutiques, delectable dining options, an array of year-round activities to keep you entertained. Whether you're walking to campus or strolling through the scenic streets or enjoying a leisurely afternoon in the nearby parks, you'll appreciate the unparalleled walkability and convenience that this prime location offers. Whether you're looking to invest or live in one unit while renting out the others, this multifamily property offers a great opportunity for significant income. All units have individual meters for electric and gas. Landlord pays water and sewer $3385 annually averaging $282 per month. Common area electricity $1063 annually, averaging $89 per month. Annual waste removal-dumpster $1443, averaging $120/month. Annual insurance Philadelphia Contributorship $2178, averaging $182 per month. Annual landscaping $1250, averaging $104 per month.
  1. Listed by Paul M Lott • Keller Williams Real Estate - West Chester
    P: 6108127359 paullott@kw.com
  2. Listed by Andrew Masson • Keller Williams Real Estate - West Chester
    P: 6105179671 andrew.masson@kw.com

Property Details for 705 West Market Street

Tax ID Number
51-05 -0095
Ownership
Fee Simple
Condo Coop Association
No
HOA
No
Structure Type
Detached
Style
Victorian
Levels/Stories
3
Waterfront
No

Location

Listing Courtesy of Keller Williams Real Estate - West Chester
Add your commute
LISTING UPDATED: 05/20/2024 06:05 PM

Property Details for 705 West Market Street

StatusActive Under Contract
MLS #PACT2065964
Days on Market10
Taxes$8,321 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Fee Simple
Year Built1875
Lot Size0.97 AC / 42,314 SF
CountyChester County

Location

Listing Courtesy of Keller Williams Real Estate - West Chester
Add your commute

Building Information for 705 West Market Street

Stories3Year Built1875Building Size-Lot Size0.97 AC / 42,314 SF

Payment Calculator

$7,215 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,522

Property Taxes

$693

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 705 West Market Street

Location
Location
  • School District Name: WEST CHESTER AREA
  • School District County ID: 300200397342
  • SchoolDistrictSource: Listing Agent
  • County: CHESTER
  • MLS Area: East Bradford Twp (10351)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Association / Community Info
Association / Community Info
  • Senior Community: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Tax Assessed Value: $289,560
  • Year Assessed: 2023
  • County Tax: $1,318
  • Improvement Assessed Value: $217,660
  • City Town Tax: $507
  • Land Assessed Value: $71,900
  • Clean Green Assessed: No
  • Municipal Trash: No
  • Land Use Code: R10
  • Historic: No
  • Zoning: MULTIFAMILY 4 UNIT
  • Tax Lot: 0095
  • School Tax: $6,497
  • Automatically Update Tax Values Y/N: Yes
Rooms
Main
  • # Bedrooms Count Main Level: 3
  • # Bathrooms Count Main Level: 1
  • # Bathrooms Full Main Level: 1
All Upper Levels
  • # Bedrooms Count All Upper Levels: 5
  • # Bathrooms Count All Upper Levels: 3
  • # Bathrooms Full All Upper Levels: 3
Upper Level 1
  • # Bedrooms Count Upper Level: 3
  • # Bathrooms Count Upper Level: 2
  • # Bathrooms Full Upper Level: 2
Upper Level 2
  • # Bedrooms Count Upper Level: 2
  • # Bathrooms Count Upper Level: 1
  • # Bathrooms Full Upper Level: 1
Rooms
  • Stories: Main, Upper 1, Upper 2
Building Info
Building Info
  • Total Finished SQFT: 4,800.00
  • Total Finished SQFT Source: Assessor
  • Tax Total Finished SQFT: 4,800.00
  • Total SQFT: 4,800.00
  • Total SQFT Source: Assessor
  • Construction Materials: Stone
  • Roof: Asphalt, Architectural Shingle
  • Basement Type: Full, Unfinished
  • Foundation Details: Stone
  • Room and Floor: Bedrooms-Main Level-1, Bedrooms-Main Level-2, Bedrooms-Main Level-3, Bathrooms Full-Main Level-1, Bedrooms-Upper Level 1-1, Bedrooms-Upper Level 1-2, Bedrooms-Upper Level 1-3, Bathrooms Full-Upper Level 1-1, Bathrooms Full-Upper Level 1-2, Bedrooms-Upper Level 2-1, Bedrooms-Upper Level 2-2, Bathrooms Full-Upper Level 2-1
  • # Bathrooms Full: 4
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 0.00 x 0.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 335280
Parking
Parking
  • Type Of Parking: Driveway, Off Street
  • Driveway - # of Spaces: 10
  • Parking Features: Crushed Stone
Interior Features
Interior Features
  • Fireplace: Yes
  • Fireplaces Count: 1
  • Accessibility Features: None
  • Laundry Type: Basement
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C, Multi Units
  • Cooling Fuel: Electric
  • Heating Type: Hot Water
  • Heating Fuel: Electric
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Tri-County Suburban REALTORS
  • List Agent URL: paullottgroup.com

Property History for 705 West Market Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 705 West Market Street

Taxable ValueLand$71,900Additions$217,660Total$289,560
Tax Record2024$8,394 ($699 / month)
Home Facts
Beds6Baths4Total Finished SqFt4,800 SqFtAbove Grade Finished SqFt4,800 SqFtStories3Lot Size42,314 SqFtStyleSingle Family ResidenceYear Built1875ZoningR4CountyCHESTERAPN5105 00950000Fireplace TypeHas Fireplace

Schools near 705 West Market Street

This home is within West Chester Area School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
Hillsdale El School
PublicK to 5

E N Peirce Middle School
Public6 to 8

West Chester Henderson High School
Public9 to 12

St Agnes Catholic School
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Keller Williams Real Estate - West Chester

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.