Description
RARE opportunity to own this legal 7-unit, 8,000 sq. ft. apartment building in Tacony at an 7.8% cap rate! $6,700 rent roll (under market), with plenty of upside once rents are raised to market. The property is located less than 5 minutes from I-95, just off of the bustling Torresdale commercial corridor. All units are 2 bed/1 bath, majority having been updated in the last three years with finishes that include vinyl & tiled flooring, led lighting, new paint, energy-efficient toilets, new vanities, tiled bathrooms, etc. New roof was installed in 2021 (transferrable warranty in place). Coin operated washer and dryer may be added in the basement for additional income or space can be rented to tenants to additional storage. All separate utilities except water. Fully occupied with leases through November 2023 +GG April 2024. Two leases are M2M with tenants in-place since 2015 & 2019. Incredible opportunity for new and seasoned investors alike! Reach out for more details.
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0BEDS
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0.11ACRES
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0BATHS
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01/2 BATHS
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8,000SQFT
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$92$/SQFT
Description
RARE opportunity to own this legal 7-unit, 8,000 sq. ft. apartment building in Tacony at an 7.8% cap rate! $6,700 rent roll (under market), with plenty of upside once rents are raised to market. The property is located less than 5 minutes from I-95, just off of the bustling Torresdale commercial corridor. All units are 2 bed/1 bath, majority having been updated in the last three years with finishes that include vinyl & tiled flooring, led lighting, new paint, energy-efficient toilets, new vanities, tiled bathrooms, etc. New roof was installed in 2021 (transferrable warranty in place). Coin operated washer and dryer may be added in the basement for additional income or space can be rented to tenants to additional storage. All separate utilities except water. Fully occupied with leases through November 2023 +GG April 2024. Two leases are M2M with tenants in-place since 2015 & 2019. Incredible opportunity for new and seasoned investors alike! Reach out for more details.
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Shawn Martin Group | Keller Williams Flagship of Maryland. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-06-01T18:53:28.79.