$262,500
$250,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
1,460 SqFt
SOLD DATE : 06/28/2024
Key Details
Sold Price $262,500
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 1,460 sqft
Price per Sqft $179
MLS Listing ID PAPH2346908
Sold Date 06/28/24
Style Straight Thru
Abv Grd Liv Area 1,460
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $603
Tax Year 2023
Lot Size 1,312 Sqft
Acres 0.03
Lot Dimensions 16.00 x 82.00
Property Description
Presenting an excellent investment opportunity for real estate investors interested in a hassle-free, passive income property. This legal duplex comes fully occupied with reliable, Section 8 tenants, making it a truly turnkey investment. The one and two bedroom units are currently rented at $1200 and $1057, with tenants who are quiet, low maintenance, and have a good standing with Section 8. The property was fully renovated in 2019, including all-new systems (plumbing, electrical, HVAC) to ensure minimal maintenance issues. Both tenants are excellent Section 8 renters, providing a dependable income. They are interested in renewing their leases, offering long-term stability for an investor. They are also flexible and can vacate with a 3-month notice, if required for transfer processes. Section 8 approves rent escalations every two years. Both units are due for an increase in January 2025, enhancing the investment return potential. The seller is committed to a smooth transition and offers a list of reliable maintenance contacts including plumbers, HVAC tech, landscapers, etc. ensuring you have everything needed to manage the property effectively. Tenants pay through Buildium, allowing for seamless and automated rent collection without the need for physical collection. Proof of current Section 8 payments and tenant payment history for due diligence. With recent renovations and reliable tenants, the property requires little day-to-day management effort, ideal for investors looking for passive income. With the hard work already done, step into a role of a passive investor and watch your investment grow!
Location
State PA
County Philadelphia
Area 19143 (19143)
Zoning RSA5
Interior
Interior Features Kitchen - Eat-In
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Straight Thru
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 401107300
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA
Special Listing Condition Standard
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Bought with Jennifer Harrison • Realty One Group Focus
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
rakan.a@firststatehometeam.com
1521 Concord Pike, Suite 102, Wilmington, DE, 19803, United States