Another Property Sold - 337 Walnut Street, Spring City, PA 19475

by Andrea Heskett 01/01/2022

337 Walnut Street, Spring City, PA 19475
List Price $489,900
Sold Price $435,000
337 Walnut Street
Spring City, PA 19475
Courtesy of Chris James Hector Realty
Est. Mortgage

Let’s talk about the POTENTIAL! Brand new metal roof installed in fall of 2021. This 6 unit apartment building is a project but has incredible potential for great cash flow. Originally home to the Spring City Trolly then home to Tim’s Boat Shop. 5 of the 6 residential apartments are occupied by long term tenants ( under market rents). 1 car oversized garage presently used by a tenant. The huge shops space is to be used by the owner and offers great opportunity for apartment expansions on the second level. 5 units offer 2 bedrooms, 1 unit has 1 bedroom. 3 of the apartments have dated cosmetic interiors and need improvement. These three units have landlord paid oil heating and hot water. Two unit renovated by the previous owner in the 1980’s. The largest unit was renovated in the early 2000’s and includes 2 bedrooms with loft, 1.5 bath, central air, gas heat and in unit laundry. The building also includes a coin operated laundry room and plenty of parking space for all the tenants. Present cash flow is very low but with renovations, market rents and utility changes the cash flow could be great. Property being sold as-is. Buyer responsible for Use and Occupancy.

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Andrea Heskett

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