Mansion House

8 Paul Nelms Drive; Downingtown, PA 19335

  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/MansionHouse-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/interior-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/living-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/kitchen-1-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/kitchen-2-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/bedroom-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/bath-1-670x390.jpg

    thumb
  • https://www.rittenhouserealty.com/wp-content/uploads/2015/07/site-670x390.jpg

    thumb
Wait a Minute



Property Details

  • Price-
  • Property TypeMulti Unit Housing
  • NeighborhoodChester County
  • Number of Units13
  • Lot Size2.488 acres
  • Price/Unit-
  • Price/Bedroom-
  • Year Built1900

Investment Highlights

  • 100% Occupied 
  • Value Add Opportunity: In-Place Rents Support 10% to 15% Rental Increases
  • Outstanding Location: Close Proximity to SEPTA Paoli-Thorndale Regional Rail; Local Restaurants; and Shopping
  • Recent Capital Improvements: Newer Boiler, Windows, and Partial Roof Replacement in the Last 10 Years
  • Unique Floor Plans: Select Units Feature Exposed Masonry, Private Entrances and Patios
  • Additional Lot Available: Option to Purchase Adjacent 1 Acre Parcel Approved for Single Family Home Construction

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in the Mansion House Apartments situated in Downingtown, Chester County, Pennsylvania. This property consists of (7) studio and (6) one-bedroom apartments. Average in-place rents are $706 for the studios and $854 for the one-bedrooms. Each floor plan offers a unique layout while offering updated bathrooms, fully equipped kitchens and individual thermostats. Significant upgrades during the current ownership have been made to the property. In 2007, the boiler was replaced with an energy efficient “Energy Star” boiler with new pex plumbing to the hot water baseboard heat in each unit. The new owner has the opportunity to convert the existing heat and hot water systems to natural gas (currently oil), creating a significant reduction in energy expenses. New windows were installed in 2010 along with upgrades to the electric service, roof, and common areas have all been completed in the last 10 years. Mansion House Apartments represents an outstanding opportunity for the new owner to continue the renovation program in the few remaining units with older kitchens and baths. With dedicated management and the above changes, the new owner can easily achieve rent increases of 10% to 15%.

 

Property Status

NOTE: This property is no longer available.

 

 

 



Location


View Larger Map

Comments are closed.

MENU