$533,000

Estimated payment $3,150/month

Total Views 350,960
-- Bed
-- Bath
1,775 Sq Ft
$300 Price per Sq Ft

Highlights

  • Traditional Architecture
  • 4-minute walk to Susquehanna-Dauphin
  • 2-minute walk to Penrose Playground
  • Central Heating and Cooling System

About This Home

Property Addresses included in portfolio : 2725 Glenwood Ave MLS# PAPH2285644 | 2530 Ridge Ave MLS# PAPH2285656 | 1913 N 23rd MLS# PAPH2285666 | 1941 N 23rd MLS# PAPH2285670 | 1210 W Dauphin MLS# PAPH2285626 | 1212 W Dauphin MLS# PAPH2285638 Total Asking Price For Portfolio: $3,200,000 Scan for photos on the Virtual Offering Memorandum. Here is a remarkable investment opportunity in the heart of Philadelphia – a portfolio of six triplex multi-family buildings, offering a total of 18 units, 19 bathrooms, and 31 bedrooms. This is an exceptional chance for discerning investors seeking a strong return. All leases except for Glenwood units are through PHA making rent payments guaranteed. 2024 rents are poised to increase $1764 for 2 beds and $1476 for 1 beds. Advertised rents are for 2024 proforma, and current cap rate is 8%+ **Key Features:** - Turnkey Recently Renovated Portfolio: These properties have been meticulously renovated, ensuring they are in superb condition and ready for occupancy or rental. - Rent Program Tenants: Enjoy the reliability of guaranteed rent from the city, providing a stable income stream. - Under Market Rents: There exists an opportunity to maximize your returns by adjusting rental rates to align with the current market conditions. - Proximity to Philadelphia Schools: These properties are conveniently located near Philadelphia schools, making them appealing to potential tenants with families. **Location:** Strategically positioned in Philadelphia, a city renowned for its vibrant culture and robust real estate market. With easy access to schools and essential amenities, this location is poised for growth and offers excellent rental potential. This outstanding investment opportunity is exclusively represented by MY Philly Cassell, your trusted partner in Philadelphia real estate. If you are considering expanding your investment portfolio or entering the dynamic Philadelphia real estate market, this is an opportunity you should explore. Seize this remarkable chance to acquire this portfolio of multi-family buildings. Contact us today to obtain more details and take the first step toward securing a prosperous investment in the City of Brotherly Love.

Listing Agent

Richard Cassell

KW Empower License #2322460 Listed on: 10/24/2023

KW Empower

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,012

Year Built

  • Built in 1925

Lot Details

  • 945 Sq Ft Lot
  • Lot Dimensions are 15.00 x 63.00

Parking

  • On-Street Parking

Home Design

  • 1,775 Sq Ft Home
  • Triplex
  • Traditional Architecture
  • Slab Foundation
  • Masonry

Utilities

  • Central Heating and Cooling System
  • Natural Gas Water Heater

Listing and Financial Details

  • Tax Lot 208
  • Assessor Parcel Number 371327700

Community Details

Overview

  • Brewerytown Subdivision

Building Details

  • Operating Expense $6,640
  • Net Operating Income $47,360

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,012

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Triplex
  • Structure Type: End Of Row/Townhouse
  • Architectural Style: Traditional
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1925
  • Remarks Public: Property Addresses included in portfolio : 2725 Glenwood Ave MLS# PAPH2285644 | 2530 Ridge Ave MLS# PAPH2285656 | 1913 N 23rd MLS# PAPH2285666 | 1941 N 23rd MLS# PAPH2285670 | 1210 W Dauphin MLS# PAPH2285626 | 1212 W Dauphin MLS# PAPH2285638 Total Asking Price For Portfolio: $3,200,000 Scan for photos on the Virtual Offering Memorandum. Here is a remarkable investment opportunity in the heart of Philadelphia – a portfolio of six triplex multi-family buildings, offering a total of 18 units, 19 bathrooms, and 31 bedrooms. This is an exceptional chance for discerning investors seeking a strong return. All leases except for Glenwood units are through PHA making rent payments guaranteed. 2024 rents are poised to increase $1764 for 2 beds and $1476 for 1 beds. Advertised rents are for 2024 proforma, and current cap rate is 8%+ **Key Features:** - Turnkey Recently Renovated Portfolio: These properties have been meticulously renovated, ensuring they are in superb condition and ready for occupancy or rental. - Rent Program Tenants: Enjoy the reliability of guaranteed rent from the city, providing a stable income stream. - Under Market Rents: There exists an opportunity to maximize your returns by adjusting rental rates to align with the current market conditions. - Proximity to Philadelphia Schools: These properties are conveniently located near Philadelphia schools, making them appealing to potential tenants with families. **Location:** Strategically positioned in Philadelphia, a city renowned for its vibrant culture and robust real estate market. With easy access to schools and essential amenities, this location is poised for growth and offers excellent rental potential. This outstanding investment opportunity is exclusively represented by MY Philly Cassell, your trusted partner in Philadelphia real estate. If you are considering expanding your investment portfolio or entering the dynamic Philadelphia real estate market, this is an opportunity you should explore. Seize this remarkable chance to acquire this portfolio of multi-family buildings. Contact us today to obtain more details and take the first step toward securing a prosperous investment in the City of Brotherly Love.
  • Special Features: VirtualTour

Interior Features

  • Fireplace: No
  • Foundation Details: Slab
  • Total Sq Ft: 1775
  • Living Area Sq Ft: 1775
  • Price Per Sq Ft: 300.28
  • Above Grade Finished Sq Ft: 1775
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1212

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Natural Gas
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District Key: 300200397108
  • School District Source: Listing Agent

Lot Info

  • Land Use Code: O50
  • Lot Size Acres: 0.02
  • Lot Dimensions: 15.00 x 63.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 945.00
  • Year Assessed: 2024
  • Zoning: RM1

Rental Info

  • Existing Lease Type: Gross
  • Owner Pays: Water
  • Rent Control: No
  • Total Actual Rent: 54000.00
  • Units Leased Count: 3
  • Vacation Rental: No

Tax Info

  • School Tax: 1686.00
  • Tax Annual Amount: 3012.00
  • Assessor Parcel Number: 371327700
  • Tax Lot: 208
  • Tax Total Finished Sq Ft: 1775
  • Tax Data Updated: No
  • Tax Year: 2024

Multi Family

  • Gross Income: 54000.00
  • Operating Expense: 6640.00
  • Other Units: Unit 1,Unit 2,Unit 3

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,012 $215,200 $43,000 $172,200
2024 $3,012 $215,200 $43,000 $172,200
2023 $3,012 $215,200 $43,040 $172,160
2022 $1,082 $215,200 $43,040 $172,160
2021 $1,082 $0 $0 $0
2020 $1,082 $0 $0 $0
2019 $1,415 $0 $0 $0
2018 $1,082 $0 $0 $0
2017 $1,082 $0 $0 $0
2016 $1,082 $0 $0 $0
2015 $1,036 $0 $0 $0
2014 -- $77,300 $4,252 $73,048
2012 -- $1,216 $154 $1,062
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/24/2023 10/24/23 For Sale $533,000 +213.5% $300 / Sq Ft
06/13/2022 06/13/22 Sold $170,000 -2.9% $96 / Sq Ft
06/07/2022 06/07/22 Price Changed $175,000 0.0% $99 / Sq Ft
05/23/2022 05/23/22 Price Changed $175,000 0.0% $99 / Sq Ft
05/04/2022 05/04/22 Price Changed $175,000 0.0% $99 / Sq Ft
03/04/2022 03/04/22 Pending -- -- --
01/31/2022 01/31/22 Price Changed $175,000 -22.2% $99 / Sq Ft
01/06/2022 01/06/22 Price Changed $224,999 0.0% $127 / Sq Ft
12/01/2021 12/01/21 For Sale $225,000 +32.4% $127 / Sq Ft
11/30/2021 11/30/21 Off Market $170,000 -- --
11/22/2021 11/22/21 Price Changed $225,000 -15.1% $127 / Sq Ft
09/20/2021 09/20/21 Price Changed $265,000 -8.6% $149 / Sq Ft
08/17/2021 08/17/21 For Sale $290,000 -- $163 / Sq Ft
Source: Bright MLS

Purchase History

Date Type Sale Price Title Company
Deed $170,000 None Listed On Document
Deed $65,000 None Available
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $506,250 New Conventional
Closed $373,725 New Conventional
Previous Owner $187,500 Commercial
Source: Public Records

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Source: Bright MLS

MLS Number: PAPH2285638

Bright MLS

APN: 371327700