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Introducing an 🌟exceptional🌟 investment opportunity in the â¤ï¸heartâ¤ï¸ of Philadelphia! This 12-unit property at 1701-3 N 20th St is now being offered for $1.4 million, featuring an impressive 💰cap rate of 7.27% and outstanding income potential. ðŸ¢ðŸ¡ 🢠Property Highlights 🢠🡠Mix of 5 studios, 1 (1BR/1BR), 3 (2BR/1BR), 2 (3BR/1BR), and 2 (4BR/2BR), with the 4-bedroom units rented by the room for maximum returns. 🌟 Strong rental performance with only 2 vacancies currently. 🚀 Fantastic cash flow opportunity with plenty of room for future growth. ðŸ™ï¸ Situated near top universities, public transportation, and abundant amenities. 💰 Financials 💰 Current Gross Annual Rental Income: 💵$135,732💵 Monthly Rental Income: 💵$11,311💵 (with 2 vacancies). Expenses: 💼 Estimated at 25% of income, totaling 💼$33,933 annually. Net Operating Income (NOI): 💲$101,799 per year. Cap Rate: 🦠7.27%. 🚀 Unlock the Potential 🚀 This property is fully functional and already generating strong income, but there's significant room to grow! 🛠ï¸âœ¨ With below-market rents and cosmetic upgrades, you can further enhance the building's appeal and increase rental income. Whether you're experienced or new to investing, this property offers long-term upside. 🌆 Location Highlights 🌆 Nestled in a thriving Philadelphia neighborhood, this property is close to everything tenants desire: 🛒 Supermarkets like Aldi and H Mart. 🔠An abundance of restaurants, cafes, and bars. 🌳 Parks and green spaces for outdoor relaxation. 🎓 Minutes from Temple University and other top schools. 🚇 Convenient public transit access for easy commutes. 🎓 Perfect for Students and Professionals 🎓 The versatile mix of unit sizes makes this property ideal for students 📚, young professionals 💼, and families alike. The neighborhood's amenities and high rental demand ensure steady occupancy and reliable cash flow. 🌟 Don't Miss Out! 🌟 At just $1.4 million, this is a steal with a 7.27% cap rate and plenty of upside potential. Whether you're looking to add to your portfolio or make your first multi-unit investment, this is a rare opportunity you don't want to miss. Contact me today to schedule a tour! 📞📆
| DAYS ON MARKET | 274 | LAST UPDATED | 12/19/2024 |
|---|---|---|---|
| YEAR BUILT | 1915 | COMMUNITY | 19121 (19121) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | THE SCHOOL DISTRICT OF PHILADELPHIA |
|---|
| PRICE HISTORY | |
| Prior to Jul 18, '24 | $1,400,000 |
|---|---|
| Jul 18, '24 - Dec 19, '24 | $1,600,000 |
| Dec 19, '24 - Today | $1,400,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | 19121 (19121) |
| HEAT | Central, Electric |
| LOT | 3485 sq ft |
| PARKING | On Street |
| STORIES | 3 |
| TAXES | 11273 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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