660 Loraine Street

Ardmore, PA 19003

$830,000
Last Sold Price
6
Beds
4
Baths
3,093 Sq. Ft.
$268 / Sq. Ft.
3,093
Sq. Ft.
$268
per Sq. Ft.

Description

Here is your chance to own a true gem of an investment property in Ardmore! 660 Loraine is the ultimate investment property featuring four residential apartment units and a detached oversized 3 car garage! Where else can you get residential financing and pick up 4 new streams of income out of one property purchase? Investors AND Owner Occupants, you will want to consider this property as the first or next addition to your portfolio. Believe it or not, the property is eligible for FHA 3.5% down payment...Here is your chance to own a true gem of an investment property in Ardmore! 660 Loraine is the ultimate investment property featuring four residential apartment units and a detached oversized 3 car garage! Where else can you get residential financing and pick up 4 new streams of income out of one property purchase? Investors AND Owner Occupants, you will want to consider this property as the first or next addition to your portfolio. Believe it or not, the property is eligible for FHA 3.5% down payment owner occupant financing (buyers should confirm their eligibility with their lender)! The property features the following units: 1st floor front unit - 1 bedroom 1 bath . 1st floor rear - Studio/Efficiency 1bath unit. 2nd floor - 3 bedroom 1 bath unit. 3rd floor - 1 bedroom 1 bath unit (can be used as a 2br if living room is utilized as a bedroom). The units are well maintained include features such as newer luxury vinyl plank flooring, bathroom updates, fresh paint and other upgrades. All of the units have access to nice outdoor living spaces as well such as the 2nd floor deck off of unit 2, the partial wraparound front porch and the rear yard. The driveway features plenty of parking and each unit has a spot available, and Loraine street has plenty of on-street parking for guests and overflow. In the basement you have the common laundry area, individual gas water heaters for each unit and owners storage space. There is ample space in the basement to add tenant storage cages for additional income. The roof was replaced in full in 2020 and two water heaters were replaced in 2022. Get your mailbox money from day one! Gross scheduled rents on the building are $6365 per month currently with ample upside. Income and expenses are available in the MLS documents section. Be sure to tour the property virtual using the Matterport virtual tour link in the MLS Virtual Tours section. Schedule your appointment today!

Property Details for 660 Loraine Street

Tax ID Number
22-06-01423-00
Ownership
Fee Simple
Structure Type
Detached
Style
Victorian
Waterfront
No
Garage
Yes
Expected On Market Date
06-22-2022
Cross Street
Belmont

Location

Add your commute
LISTING UPDATED: 10/24/2022 11:11 AM

Property Details for 660 Loraine Street

StatusClosed
MLS #PADE2028404
Days on Market47
Taxes$10,856 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1925
Lot Size0.26 AC / 11,326 SF
CountyDelaware County

Location

Add your commute

Virtual Tour

Building Information for 660 Loraine Street

Stories-Residences4Year Built1925Building Size-Lot Size0.26 AC / 11,326 SF

Payment Calculator

$5,434 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,530

Property Taxes

$905

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 660 Loraine Street

Location
Location
  • School District Name: HAVERFORD TOWNSHIP
  • School District County ID: 300200397354
  • SchoolDistrictSource: Listing Agent
  • High School: HAVERFORD (DELAWARE PA)
  • HighSchoolSource: Listing Agent
  • County: DELAWARE
  • MLS Area: Haverford Twp (10422)
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
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2021
  • Tax Assessed Value: $444,970
  • Year Assessed: 2022
  • County Tax: $1,334
  • Improvement Assessed Value: $323,630
  • City Town Tax: $1,876
  • Land Assessed Value: $121,340
  • Clean Green Assessed: No
  • Land Use Code: R-40
  • Zoning: R-40 FOUR FAMILY
  • Tax Lot: 550-000
  • School Tax: $7,645
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Concessions: Yes
  • Concessions Amount: $9,275
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 2
  • Two Bedroom Units Count: 1
  • Three Bedroom Units Count: 1
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3
  • Units Furnished: None
  • Units Leased Count: 4
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Beds Total: 1
  • Full Baths Count: 1
  • Total Rooms: 3
Unit 2
  • Type: Unit 2
  • Level: 1
  • Beds Total: 1
  • Full Baths Count: 1
  • Total Rooms: 2
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Lease Type: Owner Occupied
  • Beds Total: 3
  • Full Baths Count: 1
  • Total Rooms: 5
Unit 4
  • Type: Unit 4
  • Level: 3
  • Beds Total: 1
  • Full Baths Count: 1
  • Total Rooms: 3
Financial Information
Expenses
  • Insurance Expense: $1,072
Financial Information
  • Gross Scheduled Income: $76,380
  • Net Operating Income: $61,274
  • Annual Rental Income: $76,380
  • Income Includes: Apartment Rentals
  • Cap Rate: 6.60
  • Existing Lease Type: Yearly
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: 3,093.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 75.00 x 150.00
  • Lot Dimensions Source: Assessor
  • Lot Features: Landscaping, Rear Yard
  • Location Type: Suburban
  • Parcel ID: 483853
Parking
Parking
  • Type Of Parking: Detached Garage, Off Street, On Street
  • Num of Detached Garage Spaces: 3
  • Total Garage Spaces: 3
  • Off Street - # of Spaces: 6
  • Parking Features: Asphalt Driveway, Paved Driveway
  • Garage Features: Garage - Front Entry, Oversized
Interior Features
Interior Features
  • Fireplaces Count: 0
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Outdoor Living Structures: Porch(es)
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Window Unit(s)
  • Cooling Fuel: Electric
  • Heating Type: Hot Water
  • Heating Fuel: Oil
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Tri-County Suburban REALTORS

Property History for 660 Loraine 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 660 Loraine Street

Taxable ValueLand$121,340Additions$323,630Total$444,970
Tax Record2023$11,116 ($926 / month)
Home Facts
Baths4Total Finished SqFt3,093 SqFtAbove Grade Finished SqFt3,093 SqFtStories3Lot Size11,478 SqFtStyleQuadraplexYear Built1925CountyDELAWAREAPN22-06-01423-00

Schools near 660 Loraine Street

This home is within Haverford Township 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
Chestnutwold El School
PublicK to 5

Haverford Middle School
Public6 to 8

Haverford Senior High School
Public9 to 12

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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

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.