UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2671252
Year Built 1920
Annual Tax Amount $10,343
Tax Year 2026
Lot Size 3,288 Sqft
Acres 0.08
Property Sub-Type Five Or More Units
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
Building
Sewer Other
Water Private, Public, Other
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881212100
Ownership Fee Simple
Acceptable Financing Cash, Bank Portfolio, Conventional, Other
Listing Terms Cash, Bank Portfolio, Conventional, Other
Financing Cash,Bank Portfolio,Conventional,Other
Special Listing Condition Standard
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Tracy Sauler
Broker Associate License ID: AB069480
Broker Associate License ID: AB069480