6,750 SqFt
6,750 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Under Contract
Purchase Type For Sale
Square Footage 6,750 sqft
Price per Sqft $144
MLS Listing ID PAPH2687930
Style Other
Abv Grd Liv Area 6,750
Year Built 1920
Annual Tax Amount $10,343
Tax Year 2026
Lot Size 3,288 Sqft
Acres 0.08
Property Sub-Type Other
Source BRIGHT
Property Description
The property generates $119,988 in current gross potential rent, with average rents of approximately $1,111 per unit per month. At an asking price of $975,000, the offering represents an attractive basis of approximately $108,333 per unit and $144.44 per square foot.
Current operations generate approximately $69,547 in Net Operating Income, equating to a 7.13% in-place cap rate. Year 1 underwriting projects NOI increasing to approximately $74,961, resulting in a 7.69% cap rate, providing investors with an opportunity to acquire an income-producing multifamily asset with a strong going-in yield and continued cash-flow growth.
Location
State PA
County Philadelphia
Area 19141 (19141)
Zoning RM1
Interior
Hot Water Electric, Other
Heating Other
Cooling Other, Multi Units
Heat Source Other, Electric
Exterior
Utilities Available None
Water Access N
Accessibility Other
Garage N
Private Pool No
Building
Above Ground Finished SqFt 6750
Sewer Other
Water Private, Public, Other
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881212100
Ownership Fee Simple
SqFt Source 6750
Acceptable Financing Cash, Bank Portfolio, Conventional, Other
Listing Terms Cash, Bank Portfolio, Conventional, Other
Financing Cash,Bank Portfolio,Conventional,Other
Special Listing Condition Standard
Nearby Locations
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