OPPORTUNITY knocks!!! Own a fully occupied 5-unit building in one of Philadelphia's Opportunity Zones. This 7-year young building sits on a 17x100 lot, has 3-4 years left on the tax abatement and brings in $98,700 in gross annual rent. Unit #1 features a flat 2 bed, 2 bath unit with a private backyard for $1725/month. Unit #2 features a 2 bed, 2 bath unit for $1700/month. Unit #3 features a bi-level 2 bed, 2 bath unit for $1650/month. Unit #4 features a bi-level 2 bed, 2 bath unit for $1732.50/month. Unit #B features a lower level 2 bed, 2 bath unit for $1417.50/month.
The owners collect $60 monthly water fee from each unit.
All of the units have open kitchens with brown cabinets, granite countertops and stainless steel appliances, including an electric stove, a dishwasher, a microwave, a refrigerator and a garbage disposal; large bathrooms, high ceilings, skylight windows in the top floors units #3 and #4, intercoms, washer & dryer in each apartment, lots of natural sunlight. Central A/C and heat in each unit. Apt #1 has a private backyard. Extremely low taxes for the next 3 to 4 years! Cap rate of 7.4%.
522 N Preston st is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood.
This is one of the most concentrated innovation districts in the United States with national leading employment centers and higher learning institutions.
Property Type :
Multi-Family
County :
PHILADELPHIA
Style :
Multi-Family
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ByOwner last updated this listing 05/07/2024 @ 07:40
MLS: PAPH2256532
LISTED BY: Kateryna Brekhunova , City Wide Realty Inc
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.
