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Introducing an exceptional investment opportunity: a roughly 5,000-square-foot warehouse for sale, just a block off Lancaster Ave and situated in a Qualified Opportunity Zone (QOZ)! This property is currently configured into eight spacious garage units, each rented out individually. With tall overhead doors and impressive high ceilings, these large units offer plenty of room for a variety of uses. Presently, all units are leased on a month-to-month basis at significantly below-market rates. Current market rents hover around $700 per unit, translating to an impressive potential income of over $67,000 per year. Seize this amazing chance to elevate your investment strategy"”either increase rents for immediate cash flow or vacate the building for your personal use, or mix and match both approaches! But that's not all"”you're also land banking a prime parcel in an up-and-coming neighborhood. With a new construction apartment complex already underway just two blocks away and a proposed 25-unit apartment building directly across the street, the growth potential for this area is undeniable. Don't miss out on this fantastic opportunity to invest in a property with both immediate returns and long-term value!
| DAYS ON MARKET | 16 | LAST UPDATED | 11/7/2024 |
|---|---|---|---|
| YEAR BUILT | 1925 | COMMUNITY | 19131 (19131) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | 19131 (19131) |
|---|---|
| HEAT | Baseboard, Electric |
| LOT | 4792 sq ft |
| LOT DIMENSIONS | 89.00 x 111.00 |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 1 |
| TAXES | 2017 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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