7868 SPRING AVE Elkins Park, PA 19027
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 3,657 sqft
Price per Sqft $125
MLS Listing ID PAMC2199500
Style Colonial
Abv Grd Liv Area 3,657
Year Built 1870
Annual Tax Amount $9,552
Tax Year 2026
Lot Size 7,923 Sqft
Acres 0.18
Lot Dimensions 56.00 x 0.00
Property Sub-Type Detached
Source BRIGHT
Property Description
Each of the three apartments offers two bedrooms and its own distinct layout. The expansive first-floor residence features a bright living room with a bay window, original hardwood flooring, beautiful wood trim, pocket doors, and a spacious dining room. The kitchen includes white cabinetry, neutral countertops, and a comfortable dining area. This unit also offers a full bathroom and in-unit laundry. The second-floor apartment includes a large living area, two bedrooms, a full bathroom, and an oversized eat-in kitchen with hardwood floors, white cabinetry, a dedicated laundry room, and pantry storage. The third-floor apartment provides two bedrooms, a living room, kitchen, full bathroom, and an additional room suitable for a home office.
Delivered completely vacant, the property allows a new owner to establish their own rental rates, select tenants, and implement their preferred management strategy from day one. Previously reported monthly rents were $1,100 for the first floor, $1,150 for the second floor, and $900 for the third floor, totaling $3,150 per month. These historical rents provide a reference point, while the opportunity to lease the apartments at current market rates offers potential for increased revenue. The detached two-car garage provides another possible income stream. Separate electric service, original architectural details, refinished hardwood floors in select areas, and fresh interior paint further enhance the property's appeal. Notable improvements include heating equipment installed in 2005 and roof work completed in 2014 and 2017.
Location is another major advantage, with the property situated directly across from Elkins Park Station, providing convenient rail access to Center City Philadelphia, surrounding suburbs, and connections to Philadelphia International Airport. The surrounding neighborhood offers tree-lined streets, nearby restaurants, shopping, and everyday conveniences, with Trader Joe's and Whole Foods approximately five minutes away. Residents also enjoy access to Cheltenham Township's parks, walking trails, libraries, recreational facilities, dog parks, and community attractions, including summer concerts at Curtis Park.
With all three units vacant and ready for a new ownership strategy, this is an opportunity to acquire a multifamily property with immediate leasing flexibility, multiple avenues for income growth, and long-term value-add potential. Whether you're an investor seeking to maximize rental income or an owner-occupant looking to live in one apartment while leasing the others, this Elkins Park property offers exceptional versatility in a highly convenient location.
Location
State PA
County Montgomery
Area Cheltenham Twp (10631)
Zoning MULTI FAMILY
Rooms
Basement Partial
Interior
Hot Water Natural Gas
Heating Radiator
Cooling Window Unit(s)
Flooring Hardwood, Carpet, Ceramic Tile
Inclusions All appliances
Fireplace N
Heat Source Natural Gas
Exterior
Parking Features Garage Door Opener, Garage - Front Entry
Garage Spaces 2.0
Utilities Available Cable TV, Electric Available, Natural Gas Available, Phone
Water Access N
Roof Type Asphalt
Accessibility 32\"+ wide Doors
Total Parking Spaces 2
Garage Y
Private Pool No
Building
Lot Description Front Yard, Landscaping, Not In Development
Foundation Stone
Above Ground Finished SqFt 3657
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
Structure Type Dry Wall,Plaster Walls
New Construction N
Schools
School District Cheltenham
Others
Tax ID 31-00-24970-001
Ownership Fee Simple
SqFt Source 3657
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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Zack Grimmer
Associate Broker | Team Leader | REALTOR | Mortgage Loan Officer License ID: RS346782 | 1973175 | BK359849