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516 N Preston St
For Sale $725,000 ($194.27 per Sq Ft)
$725,000 ($194.27 per Sq Ft)
- Unknown Bedrooms
- Unknown Bathrooms
- 3,732 Sq Ft
- 1,524 Sq Ft
Description
Fantastic Investment Opportunity! Don’t miss this fully rented triplex with excellent cash flow and low annual expenses. This property features three units with a total of eight bedrooms: a spacious bi-level four-bedroom, two-bath unit complete with a kitchen, two living areas, and a private patio. The second and third floors offer two updated two-bedroom, one-bath units. Each apartment boasts hardwood and ceramic tile flooring, modern kitchens with gas stoves, in-unit washers and dryers, and individual heating and central air conditioning. Recent upgrades include: newer HVAC units (units A, B, and C), vinyl siding, new water service line, new dishwasher (Unit A), new range and microwave (unit C). Located in the thriving West Powelton neighborhood, this property is strategically positioned near the University City Science Center, Drexel University, and the University of Pennsylvania, along with a variety of dining and coffee options. With multiple convenient SEPTA transportation options available, it is less than ten minutes by car or bicycle to Center City—an undeniable opportunity for any investor.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $725,000 |
| Property Type | Triplex (3-units) |
| Usable Sqft | 3,732 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 2009 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 061194900 |
| MLS # | PAPH2413020 |
| Property ID | 294535396 |
| Lot Sqft | 1,524 |
| Zoning | RSA5 |
| Total Units | 3 |
| Days on Market | 87 |
| Original List Price | Unknown |
| Date Updated | December 03, 2024 |
| Date Created | October 22, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $64,587 | $0 |
| Net Income (Yr) | $ 48,629 |
| Cap Rate | 6.70% |
Listing Provided By
Jordan B Wiener an agent of Compass Pennsylvania, LLC. Lic #RS229414
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Data last updated: January 17, 2025.
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