MLS® ID: 1002037602
193 W 7TH AVE
Collegeville, Pennsylvania, 19426 $199,900
This Circa 1850 3,000 Sq Ft, 10 room farmhouse, located in Upper Perkiomen School District, Is ready for complete renovation. This house is situated on 1.61 Acres (70,000 Sq Ft) The owner is contemplating a subdivision of the 70,000 Sq Ft which meets the requirements for another lot subdivision in the rear of the property, however a variance would be needed for the frontage. (Frontage currently is 175', 2 lots would require 250') The listed price includes 30,000 Sq Ft lot with the property. (175' Wide x 171' Deep). The owner is willing to sell the entire parcel, giving the buyer the opportunity to subdivide the lot themselves for $300,000. This is a CASH SALE ONLY, As no financing can be obtained for this house in its present shell condition. When renovated, this will have a minimum of 5 Bedrooms, 3 Bathrooms. Walk-Out Bilco basement door entry. Gas service is on property, 200 Amp Electric service. Owner will not hold financing, however, the owner is willing to hold the title of the property, and contract with a "renovation partner" on the renovation of the house and split profits on a pro-rated basis, upon completion and sale, thereby saving the upfront capital down money to purchase. This is a RARE proper and unique and a very profitable opportunity for the right investor. Contractor estimates for renovation are between $80K - $110K to renovate and complete property. Informal appraisal comp values of completed renovated house are $415K - $500K. 2 CAR DETACHED GARAGE IN GOOD CONDITION.