Updated: May 8
Multifamily Investment Opportunities
7 Units - 2,925 SF
(*4 Units are currently Section 8)
Great opportunity to invest in the City Of Philadelphia. This property a three-story, plus finished basement, multifamily walkup building. According to the appraiser’s measurements, the building contains 2,925 square feet of gross building area above grade, and 488 square feet of gross building area partially below grade, totaling 3,413 square feet of gross livable area. The unit mix consists of two (2) studios, three (3) one-bedroom units, and two (2) two-bedroom units; all the units contain one (1) bathroom. The improvements were originally constructed in 1935 and are in the final stages of renovations. Once the renovations are complete, we expect the subject will be in good condition. Located in the Olney-Oak Lane neighborhood of North Philadelphia. The subject property is zoned RM-1, which allows residential land use. Currently 100% occupied and generating a gross rental income of $6,500/month. Appraised "As-Is" Value $760,000. Step into instant equity and cashflow.
Owner is also adding two more section 8 tenants which will make 5 out of the 6 units Section 8.
Cap Rate 10%
1) Water Bill - $250/month
2) Insurance -$500/month
3) Property Taxes - $700/year
Please submit all offers to email@example.com
"Your #1 Source for Off Market Investment Properties, NATIONWIDE"
PROMISE LAND REALTY, LLC
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*