Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1962
Sq.Footage
12,500
Classic Value-Add Mixed-Use Investment Opportunity with Seller Financing Excellent opportunity to acquire a well-maintained mixed-use investment property situated along Haverford Avenue in Philadelphia’s Overbrook section. The property consists of eight one-bedroom apartments, a first-floor and a basement-level childcare center that has operated at the property for approximately 30 years. The property is currently operating at a reported cap rate of approximately 9.0%, providing strong existing income with substantial value-add potential. Residential rents are presently in the range of approximately $650 per month and may be below prevailing market rents for comparable one-bedroom apartments in the area. With modest upgrades and professional management, a new owner may have the opportunity to increase rents over time toward the estimated $950 to $1,050 range, subject to renovations and upgrades. All residential tenants are currently on month-to-month arrangements, providing a purchaser with flexibility to implement a renovation, leasing, and rent-adjustment strategy. The property is in good, functional condition and offers immediate income together with the potential for meaningful growth in net operating income and property value. Attractive seller financing is available. The seller is willing to finance $1,000,000 of the purchase price at 8% interest, amortized over 20 years, with the remaining principal balance due in five years. An appealing opportunity for an investor seeking a high-yielding mixed-use asset with seller financing and significant value-add upside in an established Philadelphia neighborhood. See attached setup.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air, Gas
-
Heating YN
YES
-
Heating
Natural Gas, Hot Water
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Driveway
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.3
-
Lot Size(square feet)
13,131
-
Property Type
Commercial Sale
-
Property Sub Type
Mixed Use
Price
-
Sales Price
$1,500,000
-
Tax Amount
$11,847
-
Financing Options
Cash, Conventional, FHA 203(k), Seller Financing
-
Zoning
5-50 UNITS MASONRY
-
Sq. Footage
12,500
-
Price/SqFt
$120
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
OVERBROOK
Property Features
-
Stories
2
-
New Construction
NO
-
Sewer
Public Sewer
-
Tax Lot
-83
-
Water Source
Public
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
OVERBROOK
Listing Courtesy of Hassan Abdellah , The Bentley Group-PA Ltd
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Owner, Chief Executive Officer, Portfolio Advisor
Nick Polinchock
Call Nick today to schedule a private showing.
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