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Lehigh Valley Just Listed LLC
530 Gravel Pike, Collegeville, PA 19426
- $2,200,000
- Sold Price
- $2,200,000
- List Price
- $2,550,000
Property Description
Just Reduced, AGAIN! Motivated Seller! 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 with a 7.4 CAP Rate 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 Schools 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 were repainted and LVP was 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! As rents increase to market levels, over $20,000/yr increases have taken place in the last 6 months of 2025. These increases have set a precedent for rents within the community that should translate into additional increases in rent in 2026! Minimal deferred maintenance required.
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Listing courtesy of BHHS Fox & Roach Wayne-Devon. Contact:
Selling Office: High Lite Realty LLC.
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