514 - 530 Gravel Pike | 530 Gravel Pike
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514 - 530 Gravel Pike 530 Gravel Pike 12 Unit Apartment Building $2,950,000 ($245,833/Unit) 6.42% Cap Rate Collegeville, PA 19426
INVESTMENT HIGHLIGHTS
- 12 unit Cluster of waterfront Cottages and Apartment
- 100% leased and frequently a waiting list for these highly desired units & location
- all 6 single homes completed renovated in 2023 w/ granite CTs,LVP, New HVAC
EXECUTIVE SUMMARY
Welcome to Perkiomen Creek Village - a cluster of cottage homes and apartments located on the banks of the Perkiomen Creek. This enclave consists of 12 units within 8 buildings situated on 2.81 acres. This highly desirable and popular village is 100% leased and is sought after by potential tenants who enjoy the the Perkiomen Trail, either on foot or on the water, and those familiar with Perkiomen Valley High School located just across Gravel Pike. The complex consists of 6 singles, a Twin/Duplex and a 4 unit main House. All units are separately metered with 100 amp electric, Gas heat & Hot water(1 unit has oil heat & 4 units have electric Hot water) . The 6 Single homes were all totally Renovated in 2023 with finishes that include Granite Counters, S/S Appliances, new cabinets, LVP flooring & new HVAC w/ C/A. Both Twin/Duplex units are scheduled to be repainted and LVP to be installed (June 2025). All units include a Washer, Dryer, Dishwasher, Gas Range and Refrigerator. All Cottages, Waterfront House, and Twin/Duplex have private basements. Quad has a shared basement. All units are Public Sewer and On-Site well water. Highly desirable rental community, always a waiting list, with private access to the Perkiomen Trail. Conveniently Located across From PV High School with school district bus pickup in front of the property. There is so much more than just cap rates to consider with this opportunity, many of the units are still rented below market rents! Minimal deferred maintenance required.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$261,000
|
$24.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$261,000
|
$24.67
|
| Taxes |
$17,192
|
$1.62
|
| Operating Expenses |
$54,499
|
$5.15
|
| Total Expenses |
$71,691
|
$6.78
|
| Net Operating Income |
$189,309
|
$17.89
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $261,000 |
| Annual Per SF | $24.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $261,000 |
| Annual Per SF | $24.67 |
| Taxes | |
|---|---|
| Annual | $17,192 |
| Annual Per SF | $1.62 |
| Operating Expenses | |
|---|---|
| Annual | $54,499 |
| Annual Per SF | $5.15 |
| Total Expenses | |
|---|---|
| Annual | $71,691 |
| Annual Per SF | $6.78 |
| Net Operating Income | |
|---|---|
| Annual | $189,309 |
| Annual Per SF | $17.89 |
PROPERTY FACTS
| Price | $2,950,000 | Apartment Style | Garden |
| Price Per Unit | $245,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.18 AC |
| Cap Rate | 6.42% | Building Size | 10,580 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | Parking Ratio | 2.84/1,000 SF |
| Zoning | 1140 Apt: Conversion 5+ - 1140 Apt: Conversion 5 or more apartments. Grandfathered use | ||
| Price | $2,950,000 |
| Price Per Unit | $245,833 |
| Sale Type | Investment |
| Cap Rate | 6.42% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.18 AC |
| Building Size | 10,580 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1940 |
| Parking Ratio | 2.84/1,000 SF |
| Zoning | 1140 Apt: Conversion 5+ - 1140 Apt: Conversion 5 or more apartments. Grandfathered use |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Basement
- Deck
- Vinyl Flooring
SITE AMENITIES
- Courtyard
- Waterfront
- Gas Range
- Smoke Free
- Walking/Biking Trails
- Storage Space
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,650 | 600 |
| 2+1 | 6 | $1,725 | 600 - 900 |
| 3+1 | 3 | $1,600 | 900 |
| 3+1.5 | 1 | $1,775 | 900 |
| 4+2 | 1 | $3,000 | 1,900 |
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PROPERTY TAXES
| Parcel Number | 48-00-00898-008 | Total Assessment | $391,500 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | $17,192 ($1.62/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
48-00-00898-008
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$391,500 (2024)
Annual Taxes
$17,192 ($1.62/SF)
Tax Year
2025 Payable 2025
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514 - 530 Gravel Pike | 530 Gravel Pike
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