• 332 N 62nd Street PHILADELPHIA, PA 19139

  • $399,900
  • 0
    Bed(s)
  • 0
    Baths
  • 1,880
    Sq Ft
  • 1911
    Sqft

INVESTORS BEHOLD! 332 N 62nd Street is a golden opportunity for savvy investors seeking a lucrative addition to their portfolio. This property is also perfect for the beginning investor looking for their first investment. The property is part of a six unit portfolio. Here's what makes this investment stand out: **Income Potential:** This multi-unit property boasts 4 spacious units, each offering comfortable living spaces and modern amenities. Whether you're targeting long-term renters or looking to live in one of the units and rent the others, the income potential is substantial. With competitive rental rates in the area and increasing demand for housing, you can expect a consistent cash flow and attractive returns on your investment. **Value-Add Opportunity:** While the property is already generating income, there's ample room for value enhancement. With a strategic renovation or upgrade plan, you can maximize rental income and increase property value. Whether it's modernizing interiors, enhancing curb appeal, or adding amenities, the potential for appreciation is significant. The property does already have a State of the Art Security System with electronic entry and a full sprinkled interior with an up to date fire alarm system. **Prime Location:** Situated in the vibrant and rapidly developing Haddington neighborhood of Philadelphia, this property is strategically positioned to capitalize on the growth of West Philadelphia. It is a short walk to the Market/Frankford 63rd street station. The #30 & #31 buses are steps away. There is easy access to major transportation routes, as well as, all of the renowned West Philadelphia universities, employment hubs, and a plethora of amenities. This location is highly desirable for tenants seeking convenience and connectivity. Very close to Haddington Woods and Cobbs Creek Park. Wonderful restaurants are within walking distance: Jim’s Steaks West, 5-Star Jamaican, Morronne’s Water Ice etc. **Stable Market Dynamics:** West Philadelphia's real estate market has demonstrated resilience and stability, making it an ideal environment for investors seeking long-term growth. With a diverse economy, a thriving job market, and a steady influx of residents, the demand for rental properties remains robust. **Investment Highlights:** - Multi-unit property with 4 units - Prime location in the heart of Philadelphia, PA - Strong rental demand and competitive rental rates - Value-add opportunities for increased cash flow and appreciation - Stable and growing real estate market with favorable investment conditions 332 N 62nd Street offers an exceptional blend of potential and profitability.

Property Type :

Multi-Family

County :

PHILADELPHIA

Style :

Multi-Family

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Property Details

 

Water/Sewer

Water Source : Public

Interior Features

Basement Description: Improved

Heating & Cooling

Cooling: Central A/C

Heating: 90% Forced Air

Cooling Fuel: None

Heating Fuel: Natural Gas

Building Information

Year Built: 1915

Structure: Interior Row/Townhouse

New Construction: No

Total Units: 4

Built: 1915

Construction Material: Masonry

Foundation/Basement: Other

Architecture: AirLite

Pool/Private: No Pool

Pool Information

Pool: No Pool

Utility Features

Sewer: Public Sewer

Water

Water Heat: Natural Gas

Lot Information

Lot Size: 1,911

Dimensions: 16.00 x 122.00

Lot Size (Acres): 0.04

Architectural Style: AirLite

Main Square Feet: 1,911

Property Information

SQ ft: 1,880

SQ ft (Living Area): 1,880

Total Lot SQ ft: 1,911

Financing: Conventional,FHA,Cash,VA

Appx. Lot Dimensions: 16.00 x 122.00

Total Acreage: 0.04

New Construction: No

Type: AirLite

Listing Information

Possession: Immediate

Days Of Market: 15

Tax Information

Annual Tax: $1,947

Tax Year: 2022

Total Taxes Payment Frequency: Annually

Possession

Immediate

Assessment Information

Taxes Assessment Amount: $139,100

Parking Information

Parking Type: On Street

Has Garage: N

Multi-Unit Information

Acceptable Financing: Conventional,FHA,Cash,VA

Homeowners Association Information

Direction: From the intersection of Haverford Ave and Girard Ave: Head west on W Girard Ave toward Haverford Ave/SR 3018/State Rte 3018 Turn left onto N 61st St Turn right onto Noble St Turn left onto N 62nd St

School Information

School District: PHILADELPHIA CITY

Utility Information

Water Source: Public

Sewer: Public Sewer

Cooling Fuel: None

Heating Fuel: Natural Gas

Hot Water: Natural Gas

Location Information

Direction: From the intersection of Haverford Ave and Girard Ave: Head west on W Girard Ave toward Haverford Ave/SR 3018/State Rte 3018 Turn left onto N 61st St Turn right onto Noble St Turn left onto N 62nd St

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
5250 Walnut Street , Philadelphia, PA,19139 $130,000 -- -- 1,380 1380 Sqft
13 N Lindenwood Street , Philadelphia, PA,19139 $41,900 -- -- 1,114 1114 Sqft
5910 Spring Street , Philadelphia, PA,19139 $35,000 -- -- 960 960 Sqft
124 N Felton Street , Philadelphia, PA,19139 $117,500 -- -- 1,232 2000 Sqft
5125 Brown Street , Philadelphia, PA,19139 $59,000 -- -- 1,350 1350 Sqft
9 S Conestoga Street , Philadelphia, PA,19139 $50,000 -- -- 736 736 Sqft
6243 Market Street , Philadelphia, PA,19139 $74,900 -- -- 1,472 1472 Sqft
5110 Funston Street , Philadelphia, PA,19139 $19,000 -- -- 780 780 Sqft
5715 Arch Street , Philadelphia, PA,19139 $215,000 4 2.0 1,632 3075 Sqft
5924 Market Street , Philadelphia, PA,19139 $125,000 -- -- 1,336 1336 Sqft

Data provided by Bright MLS. Property information is for the users personal, non-commercial use. Information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties that appear on the website may no longer be for sale, and may be under contract or sold. ©2024 Bright MLS, All Rights Reserved. Information is reliable but not guaranteed.

ByOwner last updated this listing 05/04/2024 @ 02:55

MLS: PAPH2338956
LISTED BY: Piruz Partow , Select Commercial Advisors
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2.75%
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.

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