501 Gay Street, PHOENIXVILLE, Pennsylvania image 1

Active

MLS: #PACT2137052, Listed By: Andrea Heskett, Chris James Hector Realty, Source:Bright MLS

501 Gay Street

PHOENIXVILLE, PA 19460

$975,000 $4,110/Mo

Get Pre-Approved Check your credit

Overview

Bed

Bath

4,716

Sqft

0.31

Acre(Lot)

Description

Exceptional Investment Opportunity in the Heart of Phoenixville! Looking to invest in one of the region's most desirable and vibrant communities? This striking colonial property offers an exciting opportunity for investors seeking strong rental income with additional potential for future value. For the owner-occupant, this property offers an equally appealing opportunity to live in one of the apartments while generating rental income from the additional units. Enjoy the convenience and walkability of Phoenixville while allowing the rental income to help offset the cost of ownership. Featuring four fully rented apartments and a detached two-car garage, the property currently generates $88,320 in annual gross rental income. The building welcomes you with a wrap-around front porch, classic do rmer windows and beautiful mature trees creating an inviting first impression. Vestibule entrance leading to a charming main hallway. Each apartment offers its own character and appeal. Unit #1 (Rented for $2,205) is a spacious first-floor, two-bedroom apartment featuring 9-foot ceilings, dramatic floor-to-ceiling windows in the living and dining rooms, an updated kitchen, and a generously sized bathroom. Unit #2 (Rented $1,550, vacating Nov 1st), located on the second floor, offers access to a large deck, a bright living room with a bay window, a full kitchen with breakfast counter, and an upper-level bedroom. Unit #3 (Rented $1,650. 1 year lease) features a large living room, kitchen with countertop dining, a spacious bedroom, and a full bathroom. Unit #4 (Rented $1,625 1 year lease) is a one-bedroom first-floor apartment with luxury vinyl plank flooring and an updated kitchen. Charming architectural details, including beautiful stained-glass windows, add character throughout the property. Additional amenities include coin-operated laundry in the basement. The rear of the property has access to the oversized two car garage (Rented $330, mo/mo) plus a storage shed. Tenants pay for electric and internet. Landlord pays for taxes, gas heat, common electric, water, sewer and trash. The heater was replaced in 2019, Main roof replaced 2016, bay window roof replaced 2026. Beyond its established rental income, the property presents an intriguing opportunity to explore the potential subdivision of the side yard, offering an additional avenue for future investment upside, subject to applicable approvals. Ideally situated in Phoenixville Borough, this property places tenants within easy walking distance of Reeves Park and the Phoenixville Public Library, as well as the many independent shops, restaurants, cafes, and art studios found along Gay, Main, and Bridge Streets. With its established rental history, appealing location, and potential for future growth, this is an investment opportunity worth exploring. This property has been well maintained and inspections are welcome but the seller intends to sell as is condition. All photos taken prior to tenants moving in.

Property Details

Property Type : Residential Income

Price : $975,000

AD Id : 91674315

MLS Id : PACT2137052

Beds : 5

Lot Size : 0.31 Acre

Living Area Size : 4,716 Sq. Ft

Tax Amount : $8,724

Year Built : 1900

Garage : 2

County : CHESTER

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 5

Room Information

Has Basement: Yes Basement: Full
Flooring Information

Carpet, Vinyl
Roofing Information

Rubber, Shingle
Interior Features

High Ceilings Roof: Rubber, Shingle Appliances: Electric Water Heater Window Features: Bay Window(s)
Heating & Cooling

Has Heating: Yes Heating: Natural Gas, Hot Water Has Cooling: Yes Cooling: Wall Unit(s), Electric

Building Information

Year Built: 1900 Building Area Total: 4716 Construction Materials: Brick Pool Features: None Private Pool: No

Lot Information

Lot Size Acres: 0.31 Lot Size Source: Assessor Lot Size Square Feet: 13500 Lot Description: Corner Lot

Listing Price Information

Listing Price: $975000

Tax Information

Parcel Number: 15-13 -0556 Tax Lot: 0556 Tax Year: 2026 Annual Tax: $8724

Parking Information

Parking Total: 2 Oversized, Garage, Detached

Garage Information

Has Garage: Yes Garage Space: 2

Location Information

Direction: Rt 23 W from Valley Forge, Right on Gay St. Property on the corner of Gay and 3rd Ave. WaterSource: Public

Sell a home like this and save $58,001 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Loading, please wait...

Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
75 Nutt Road, Phoenixville, PA, 19460	$989,000	--	--	3,988	0.41 Acre
153 Washington Avenue, Phoenixville, PA, 19460	$500,000	3	--	2,048	0.06 Acre
155 Washington Avenue, Phoenixville, PA, 19460	$500,000	3	--	2,048	0.06 Acre
155/153 Washington Avenue, Phoenixville, PA, 19460	$1,000,000	6	--	4,096	0.24 Acre
355 Nutt Road, Phoenixville, PA, 19460	$465,000	2	--	1,924	0.09 Acre
825 Maple Avenue, Phoenixville, PA, 19460	$739,000	6	--	2,556	0.19 Acre