Attention Investors!! Don’t wait! 2015 renovated legal Triplex in the Mantua/University City area; just blocks from UPenn, Drexel, the Zoo, Mann Music Center and Art Museum. Easy to get to/ from with I76, Vine Street Expwy with MLK Drive immediately contiguous and public transportation steps away. While you’re here, go a mere four doors up the street and see its “sister property” at 615 N 32nd St, also for sale with virtually the same attributes including: unit layout, color scheme, kitchen amenities, appliances, granite countertops, hardwood floors, etc. Each of these awesome properties have 3 x 2bd/1bath units. All totally renovated from the studs out in 2015 including all new electrical, HWH, HVAC, appliances, Fire Alarm system (recent inspection), etc; keep your maintenance costs at a minimum! All utilities separate and paid by the tenants except water which currently runs $50/mo. Common area Washer/Dryer in basement. Tenants have expressed an interest to stay with new owner. Buyers' agent responsible for confirmation of real estate taxes given recent Phila re-assessment.
All units currently have longer term tenants and are under rented at $1,000/month, the difference available to significantly impact future cap rate. Units should rent between $1200-1250/mo. Cap Rate based on projected annual rents @ $1200/mo and 2022 real estate tax rates.
Both properties are occupied with mostly M2M tenants. All of the units are similar. Current tenants have expressed an interest to stay.
Courtesy of: Bainbridge Realty LLC Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 6th December, 2022 7:04 PM (UTC)
Angie McDaniel is a licensed REALTOR® and subscribes to NAR's strict Code of Ethics, which is based on honesty, professionalism and the protection of the public. We fully support and operate in accordance with The Fair Housing Act.