Wow! Amazing investment opportunity in a prime Northern Liberties location. This 4-unit property is a great investment property or could be a slam dunk for an owner occupant. Live in one unit and have the tenants pay your mortgage! ** SELLER is offering a RATE BUYDOWN option for a limited time, with specific offer terms. For example you could possibly save as much as $1,100/mo on your mortgage for year 1 and $600+/mo in year 2. Inquiry for more details. **
The property is 100% occupied and has been since being purchased. The massive property boasts 4 units, spanning 4 stories plus the unfinished basement. There are 3 one-bedroom units and 1 three-bedroom unit that covers 2 floors. Only a half block from Girard Ave makes this location key for public transportation, shopping, entertainment and all of the conveniences of city living.
Unit 1: $1550/mo, lease expires 10/31/24. Unit 2: $1155/mo, lease expires 6/30/24. Unit 3: $1390/mo, lease expires 7/31/24. Unit 4: $2245/mo, lease expires 7/31/24.
The owner pays for water and common area electric/gas. The rest of the utilities are separated by unit and paid by the tenants. The basement is unfinished and provides storage space as well as houses 2 sets of coin operated washer and dryer. Income from washer and dryer: $70/mo.
Turn over has been infrequent and the units have been filled easily due to the spacious layout and great location. The building has been well maintained with continual updates, including a long term roof that has an anticipated 30 year life span remaining, so operating costs are controlled.
This is a great opportunity, in a prime location, to own a turnkey investment property.