About 2319 Forest Grove Rd
A rare opportunity to acquire a fully leased, character-rich Bucks County asset with immediate income and clear upside—ideal for both seasoned investors and lifestyle buyers seeking a hybrid investment.
This fully rented 5-unit farmhouse conversion is situated on nearly 6 acres in desirable Buckingham Township, offering immediate cash flow with strong upside potential. The property includes four units within the main farmhouse and a detached, carriage house (Unit 5), creating a diversified and stable income stream.
All units are generously sized and reflect sought-after Bucks County character. Unit 4 (former horse stable) and Unit 5 (carriage house) have been fully renovated, while three remaining units present value-add opportunities through future updates and rent optimization. Current rents are below market, with nearby comps supporting increased income opportunities.
At the current asking price of $1,595,000, the property delivers an approximate 6.5% in-place cap rate, offering investors a strong in-place return with compelling potential to elevate both income and long-term value.
Tenants pay all utilities except water, helping maintain low operating expenses. Additional income is generated through garage rentals, and a full basement provides valuable storage. The property also benefits from a newer septic system and ample on-site parking. Current, below market rents are:
$1950 (3 beds, 1.5 baths)
$1950 (3 beds, 2 baths)
$1750 (2 beds, 1.5 baths)
$1975 (1 bed, 1.5 baths)
$2870 (3 beds, 2.5 baths)
Located just minutes from Doylestown, New Hope, and major commuter routes, this is a rare opportunity to acquire a stabilized asset with both immediate income and long-term appreciation potential.
12 parking spots not including garages. Showings available late afternoons by appointment only with listing agent with 24-hour notice. Serious inquiries only.
