3,100 SqFt
3,100 SqFt
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 3,100 sqft
Price per Sqft $172
Subdivision None Available
MLS Listing ID PAPH2634846
Style Other
Abv Grd Liv Area 3,100
Year Built 1900
Available Date 2026-06-23
Annual Tax Amount $4,928
Tax Year 2026
Lot Size 2,358 Sqft
Acres 0.05
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
The property has an excellent setup of 8 beds and 8 full baths, which makes it easy to lease. The basement is a 2-bed / 2-bath with luxury renovations, stainless steel appliances, a bar area, two fireplaces, beautiful bathrooms, and a washer and dryer. Unit 1 is a large, updated 3-bed / 3-bath with backyard access and washer/dryer. Unit 2F is a spacious 1 bed / 1 bath with a gorgeous kitchen and dining area, a stone accent wall, and washer/dryer. Unit 2R is a cozy 2 bed / 2 bath with backyard access and washer/dryer. Every unit in the building has its own washer and dryer, a big plus for tenants and for leasing speed. Current tenants have been in place since 2023/2024, and they're respectful, caring, and would like to stay. In Philadelphia, great tenants are paramount, and this property has them.
Tenants have separate electric meters. The owner pays gas heating ($2,160/yr) and water ($2,040/yr), and insurance of $3,500/yr ( 3 out of 4 units have two points of exits - great for lower insurance). Current rents are as follows: the basement (2 bed / 2 bath) is $1,690/mo with a lease ending 06/30/2027; Unit 1 (3 bed / 3 bath) is $1,353/mo ending 09/30/2027; Unit 2F (1 bed / 1 bath) is $1,045/mo ending 06/30/2027; and Unit 2R (2 bed / 2 bath) is $965/mo ending 11/30/2026 (potentially renewing).
The property currently carries a homestead exemption with taxes just under $5,000; without it, taxes would be $6,100. Using the $6,100 figure, a 5% maintenance allowance, 3% vacancy, a $500 trash fee, $200 for rental license, and $300 for snow removal , insurance and utility expenses, the total expenses come to $19,965; NOI is $40,985, for a 7.68% cap rate at the $533,500 asking price. On turnover, the new owner has room to add value by spin flight cosmetic improvements, pushing NOI and the cap rate well past 9.5%. This is an easy to maintain income producing property from day 1 with high quality rental demand and potential for higher returns.
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning RM1
Interior
Hot Water Natural Gas
Heating Radiant
Cooling Window Unit(s)
Flooring Luxury Vinyl Plank
Equipment Stove, Refrigerator, Dishwasher, Washer, Dryer
Appliance Stove, Refrigerator, Dishwasher, Washer, Dryer
Heat Source Natural Gas
Exterior
Exterior Feature Patio(s)
Utilities Available Natural Gas Available, Electric Available
Water Access N
Accessibility None
Porch Patio(s)
Garage N
Building
Foundation Stone
Above Ground Finished SqFt 3100
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 123242500
Ownership Fee Simple
SqFt Source 3100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
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1521 Concord Pike, Suite 102, Wilmington, DE 19803, United States