402-406 Walnut St
Lansdale, PA 19446

Originally constructed in 1898, the building has undergone several additions and major renovations. By the late 1930s all of the current additions to the property had been completed. The list of capital improvements includes but is not limited to: installation of 100 AMP service to each apartment plus separate electrical meters for each unit; a new efficient gas boiler which satisfies the build-ing’s heat and hot water needs; steel beams installed throughout the building to structurally reinforce each unit; and new concrete walkways in front of the building as well as improve stormwater drainage in the rear of building. In addition to the large-scale im-provements, several smaller projects have been undertaken to enhance the livability of the apartment units. Each apartment has been soundproofed, and double-glazed vinyl tilt-in windows have been installed throughout the building. The original banisters on each staircase have been replaced with modern aluminum banisters which aide in the moving process and two of the six apart-ments have had half-walls installed to connect the kitchen and living room. Current ownership has cared for the building and its residents for over 40 years. Much of the large capital expenditures have already taken place and a new owner could upgrade kitchens and bathrooms, and raise rents $150 to $200 per unit per month. The Lansdale rental market is growing with the addition of 182 luxury apartments in 2019 and the planned addition of over 200 apartments to be added through construction of a six-story building within walking distance of 402-406 Walnut Street. New owner-ship has the opportunity to capitalize on this new wave of development with little to no capital expenditure on their own part. The 402-406 Walnut Street Apartment Building offering presents an outstanding opportunity to acquire six units situated in one of the most exciting, walkable, and coveted areas of the Philadelphia Suburbs.