Bought with Christian J Kriza • Beiler-Campbell Realtors-Kennett Square
$1,400,000
$1,599,000
12.4%For more information regarding the value of a property, please contact us for a free consultation.
2.4 Acres Lot
SOLD DATE : 10/30/2026
Key Details
Sold Price $1,400,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PACT2110316
Sold Date 10/30/26
Year Built 1900
Available Date 2025-10-02
Annual Tax Amount $9,406
Tax Year 2025
Lot Size 2.400 Acres
Acres 2.4
Lot Dimensions 0.00 x 0.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
8831 & 8837 Gap Newport Pike offer a unique package of two parcels spanning approximately 2.4 acres, featuring 10 rental units across 5 buildings.
Seven of the units share a desirable layout with 1,200+ sq ft of living space, each with separate entrances and attached garages. Several also include finished or finish-ready basements, creating the opportunity to expand into 3-bedroom units and maximize rental income. Of these seven, four are 2-bedroom & three are 3-bedroom.
The main house adds a 3-bedroom unit & two more 2-bedroom units, all well-maintained with long-term tenants in place.
Current Gross Annual Rental Income: $142,200. Projected Market Rent (2BR): $1,500+ per month. Projected Market Rent (3BR w/ basement conversions): $1,700+ per month.
With stable income already in place and significant upside through rental increases and unit enhancements, this property is a strong addition to any portfolio. Conveniently located along Gap Newport Pike, the site offers ample parking and a blend of immediate cash flow and long-term appreciation potential.
Please do not walk the property or disturb tenants. All showings must be scheduled.
Location
State PA
County Chester
Area New Garden Twp (10360)
Zoning R40 APT: APT BLDG(S) (4-1
Interior
Hot Water Oil, Electric
Heating Hot Water
Cooling None
Flooring Carpet, Concrete, Luxury Vinyl Plank, Laminate Plank, Laminated, Vinyl, Wood, Other, Tile/Brick
Heat Source Oil, Propane - Leased
Exterior
Garage Spaces 20.0
Utilities Available Water Available, Sewer Available, Propane, Other
Water Access N
Roof Type Shingle
Accessibility None
Total Parking Spaces 20
Garage N
Building
Sewer Public Sewer, On Site Septic
Water Public
New Construction N
Schools
School District Kennett Consolidated
Others
Tax ID 60-03 -0030.0200
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Negotiable
Listing Terms Cash, Conventional, Negotiable
Financing Cash,Conventional,Negotiable
Special Listing Condition Standard
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