1701-3 N 20TH ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19121
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,800 sqft
Price per Sqft $181
MLS Listing ID PAPH2372810
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $11,273
Tax Year 2021
Lot Size 3,482 Sqft
Acres 0.08
Property Description
Introducing an 🌟amazing🌟 investment opportunity in the ❤️heart❤️ of Philadelphia! This 12-unit property, located at 1701-3 N 20th St, offers an attractive 💰cap rate of approximately 6.39% based on its purchase price of $1.6 million. 🏡🏢
🏢 Property Highlights 🏢
🏡 Mix of 1-2 and 4 bedroom units
🌟 Potential for increased rental income
🚀 Fantastic cash flow opportunity
🏙️ Proximity to top universities and public transportation
💰 Financials 💰
With this purchase price, the property offers an annual income of approximately 💵$136,392💵 with total expenses of 💼$34,098💼. This results in a net operating income of around 💲$102,294💲 per year, contributing to the appealing cap rate.
🚀 Unlock the Potential 🚀
While the property needs some cosmetic upgrades and minor repairs, it is still a fantastic investment opportunity with enormous potential. 🛠️✨ By investing in these upgrades, you can transform this property into a highly desirable rental for tenants.
🏠 Fully Occupied Potential 🏠
If fully occupied, the gross rental income could reach 💲$174,288💲 with the expenses at roughly 💼$43,572💼. This suggests a potential net operating income of around 💰$130,716💰 per year. which would put this property at a 8.17 % Cap rate at a 1.6 M purchase price.
🌆 Location, Location, Location 🌆
Located in a vibrant and bustling area of Philadelphia, tenants will have plenty of nearby shopping 🛒, grocery options 🍎, and other amenities 🏬 to choose from. The area is home to several supermarkets 🛒, including Aldi and H Mart, and boasts a wide range of restaurants 🍔, cafes ☕, and bars 🍸. There are also several parks 🌳 and green spaces 🌿 nearby for outdoor activities 🌞.
🎓 Perfect for Students and Young Professionals 🎓
The property's proximity to top universities, including Temple University 🎓 and Drexel University 🎓, and its easy access to public transportation 🚇 make it an ideal choice for students 📚 and young professionals 💼. The neighborhood is a lively and bustling area of the city, offering something for everyone. 🌇
If you're looking for a property with enormous potential that offers strong cash flow and room for growth, this is an excellent choice. 🌟 Contact me today to schedule a viewing and see the potential for yourself! 📆🏡💰
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RSA5
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Flooring Ceramic Tile,Laminated
Heat Source Electric
Exterior
Waterfront N
Water Access N
Roof Type Flat,Rubber
Accessibility 32\"+ wide Doors,2+ Access Exits
Parking Type On Street
Garage N
Building
Sewer No Septic System
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881551183
Ownership Fee Simple
SqFt Source Estimated
Security Features Carbon Monoxide Detector(s),Monitored,Fire Detection System,Smoke Detector
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard