Property
Beds
5
Full Baths
None
1/2 Baths
None
Year Built
1925
Sq.Footage
3,025
With the over saturation of luxury units in high priced neighborhoods, landlords in other neighborhoods are forced to give renter concessions or drastically cut their rent below marker. NOT HERE. Finally an opportunity to own in an area that is in high demand for quality units. This assets is selling at a verified 8.27% cap rate which falls perfectly in line with the area that trades regularly between 8-9%, often for lesser quality rehabs. Just take a quick swipe through the pictures, this is as turnkey of a performing asset as you can get. Currently 4/6 units are occupied, previously totaling $6080 of monthly revenue over the 6 residential units. With this income and lower property taxes and current mortgage rates, the property can provide a 1.45 DSCR, making it wildly appealing to secure financing via DSCR loan programs. There are no other opportunities to own this many units under one roof on the market, take this one while you can!
Features & Amenities
Interior
-
Total Bedrooms
5
Area & Lot
-
Lot Size(acres)
0.05
-
Property Type
Residential Income
-
Architectural Style
Other
Exterior
-
Garage
No
-
Parking
On Street
Financial
-
Sales Price
$629,000
-
Tax Amount
2828.0
-
Zoning
Commercial Mixed Use (Has approval for residential units with no commercial space)
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Breyon Lenell Young , Lime House
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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