This is an incredible opportunity in the heart of University City and Powelton Village! The location is ideal for student housing, faculty staff, and medical professionals, with its proximity to universities, hospitals, and other amenities. The property itself offers plenty of space with 6 bedrooms and 2 bathrooms. The full living and dining space, eat-in kitchen, exposed brick throughout, and high ceilings add to its charm. The front enclosed porch, side and backyard deck provide outdoor space for residents to enjoy. The on-premises laundry is also a great convenience.
Currently rented for $3,350 per month, there is room for potential rent increase, as it has rented for up to $4,000 per month in the past. With some minor or major updates, there is even more potential to increase the rental income. Additionally, the option to purchase the neighboring property at 435 N 33rd St, a 3-unit multifamily building, for $715,000 adds even more potential to this opportunity.
This could be a great investment for someone looking to expand their real estate portfolio in prime Powelton village or do a much larger development project.
The location is truly unmatched, with its proximity to Drexel Park, Drexel main campus, UPenn, hospitals, the Art Museum, 30th St Station, and more. It offers convenience and accessibility to a variety of amenities. This is also in a QOZ area which presents a massive opportunity for preferential tax treatment. Act fast!
Property Type :
Residential
Subdivision :
Powelton Village
County :
PHILADELPHIA
Style :
Residential
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ByOwner last updated this listing 05/04/2024 @ 04:46
MLS: PAPH2293002
LISTED BY: Reda B Akbil , Compass Pennsylvania, LLC
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
