2,255 Sqft Lot
2,255 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2474746
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $2,828
Tax Year 2024
Lot Size 2,255 Sqft
Acres 0.05
Lot Dimensions 20.00 x 113.00
Property Sub-Type Five Or More Units
Property Description
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!
Location
State PA
County Philadelphia
Area 19131 (19131)
Zoning CMX2
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Flooring Laminate Plank
Inclusions All fixtures
Heat Source Electric
Exterior
Water Access N
Roof Type Rubber
Accessibility Level Entry - Main
Garage N
Building
Foundation Concrete Perimeter, Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 442127000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Exchange, Other, Private
Listing Terms Cash, Conventional, Exchange, Other, Private
Financing Cash,Conventional,Exchange,Other,Private
Special Listing Condition Standard
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "