UPDATED:
01/13/2025 08:16 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,800 sqft
Price per Sqft $159
MLS Listing ID PAPH2372810
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $11,273
Tax Year 2021
Lot Size 3,482 Sqft
Acres 0.08
Property Sub-Type Five Or More Units
Property Description
🏢 Property Highlights 🏢
🏡 Mix of 5 studios, 1 (1BR/1BR), 3 (2BR/1BR), 2 (3BR/1BR), and 2 (4BR/2BR), with the 4-bedroom units rented by the room for maximum returns.
🌟 Strong rental performance with only 2 vacancies currently.
🚀 Fantastic cash flow opportunity with plenty of room for future growth.
🏙️ Situated near top universities, public transportation, and abundant amenities.
💰 Financials 💰
Current Gross Annual Rental Income: 💵$135,732💵
Monthly Rental Income: 💵$11,311💵 (with 2 vacancies).
Expenses: 💼 Estimated at 25% of income, totaling 💼$33,933 annually.
Net Operating Income (NOI): 💲$101,799 per year.
Cap Rate: 🏦 7.27%.
🚀 Unlock the Potential 🚀
This property is fully functional and already generating strong income, but there's significant room to grow! 🛠️✨ With below-market rents and cosmetic upgrades, you can further enhance the building's appeal and increase rental income. Whether you're experienced or new to investing, this property offers long-term upside.
🌆 Location Highlights 🌆
Nestled in a thriving Philadelphia neighborhood, this property is close to everything tenants desire:
🛒 Supermarkets like Aldi and H Mart.
🍔 An abundance of restaurants, cafes, and bars.
🌳 Parks and green spaces for outdoor relaxation.
🎓 Minutes from Temple University and other top schools.
🚇 Convenient public transit access for easy commutes.
🎓 Perfect for Students and Professionals 🎓
The versatile mix of unit sizes makes this property ideal for students 📚, young professionals 💼, and families alike. The neighborhood's amenities and high rental demand ensure steady occupancy and reliable cash flow.
🌟 Don't Miss Out! 🌟
At just $1.4 million, this is a steal with a 7.27% cap rate and plenty of upside potential. Whether you're looking to add to your portfolio or make your first multi-unit investment, this is a rare opportunity you don't want to miss. Contact me today to schedule a tour! 📞📆
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RSA5
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Flooring Ceramic Tile, Laminated
Heat Source Electric
Exterior
Water Access N
Roof Type Flat,Rubber
Accessibility 32\"+ wide Doors, 2+ Access Exits
Garage N
Building
Sewer No Septic System
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881551183
Ownership Fee Simple
SqFt Source Estimated
Security Features Carbon Monoxide Detector(s),Monitored,Fire Detection System,Smoke Detector
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
