Investment Opportunity: Renovated Triplex Generating $4,500 Monthly Rental Income
Listing Price: $599,000
Property Overview:
Discover an incredible investment opportunity in the heart of the city. This renovated triplex offers three fully rented units, each contributing to a steady monthly rental income.
Unit Breakdown:
Unit 1 (Ground Floor): 2 bedrooms, 1 bathroom, open-plan living and dining area, modern kitchen, private patio space.
Unit 2 (Second Floor): 3 bedrooms, 2 bathrooms, spacious living area, updated kitchen with granite countertops, in-unit laundry, balcony.
Unit 3 (Third Floor): 1 bedroom, 1 bathroom, cozy layout, skylights, upgraded fixtures.
Key Features:
Fully Rented: All units are currently leased, generating a total monthly rental income of $4,500, providing immediate returns for the investor.
Renovated Interiors: Each unit has been renovated with modern finishes, including hardwood floors, updated bathrooms, and contemporary fixtures.
Prime Location: Situated in the bustling city center, tenants enjoy easy access to amenities, public transportation, and employment opportunities.
Low Maintenance: Recent renovations minimize upkeep, allowing for hassle-free ownership and maximizing profitability.
Separate Utilities: Each unit has its own meter, ensuring tenants are responsible for their own utility costs.
Financial Highlights:
Monthly Rental Income: $4,500
Annual Rental Income: $54,000
Operating Expenses: Approximately $15,000 annually (including taxes, insurance, maintenance)
Net Operating Income: Approximately $39,000
Cap Rate: 6.5%
Cash-on-Cash Return: 8.2%
Additional Information:
This triplex represents an excellent opportunity for investors seeking immediate rental income in a high-demand urban market. With a competitive listing price and strong financial performance, it's a must-see for any savvy investor.
Contact us today to arrange a viewing and secure your investment in the thriving city real estate market.
Property Type :
Multi-Family
County :
PHILADELPHIA
Style :
Multi-Family
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ByOwner last updated this listing 05/18/2024 @ 00:16
MLS: PAPH2346280
LISTED BY: Nicholas Joseph Ochs , OCF Realty LLC - Philadelphia
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 3%
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.
