Property
Beds
4
Full Baths
None
1/2 Baths
None
Year Built
1925
Sq.Footage
1,824
Fully-occupied, income-producing duplex in West Philadelphia with $3,345/month in gross rental income and about 5 years of remaining tax abatement. Each unit offers 2 bedrooms and 2 full bathrooms, fully renovated in 2020 with modern finishes throughout. Features include quartz countertops, stainless steel appliances, central air, in-unit laundry, recessed lighting, and hardwood flooring. The upper unit enjoys a private balcony, the lower unit has private rear outdoor area, while both units include open-concept layouts and spacious closets. Unit 1 is leased for $1565/mo + $70 utility fee, and Unit 2 is leased for $1625/mo with an $85 utility fee, for a total of $40,140/year in gross scheduled income - an in-place cap rate of 7.5%. Ideal turnkey investment with strong rental history and minimal maintenance. Located on a quiet block with convenient access to public transit, major universities, and commercial corridors. Turnkey cash-flowing asset in appreciating West Philly submarket. Perfect for investors or 1031 exchange buyers, as well as owner-occupants looking to live in one unit and rent the other. Showings available by appointment with minimum 48 hour notice.
Features & Amenities
Interior
-
Total Bedrooms
4
Area & Lot
-
Lot Size(acres)
0.03
-
Property Type
Residential Income
-
Architectural Style
Other
Exterior
-
Garage
No
-
Other Exterior Features
Balcony
-
Parking
On Street
Financial
-
Sales Price
$399,000
-
Tax Amount
1343.0
-
Zoning
Multifamily 2 Unit
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Samantha Lee Miller , Select Commercial Advisors
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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