Description

Calling all savvy investors ready for an amazing portfolio addition! This fully-leased, 5 unit property with large, 4-car garage on a double lot with gated driveway is available now! At 3,472 sqft, this semi-detached, three story building has been recently updated with new and properly permitted electrical, plumbing, roof, fire alarm system, and separated utilities for turn-key conditions for many years to come. Unit 1 is on the main floor in the front and is a one bedroom, one bathroom unit. The tenant has 1 year and 4 months left with a rent price of $1000/month. Unit 2 is on the main floor in the back and has a separate entrance. This unit features 2-3 bedrooms, one bathroom, a porch, and half of the basement. Rent in Unit 2 is currently set at $1,250/month and the lease ends in 1 year and 5 months. Unit 3 is located at the front of the second floor and is a one bedroom, one bathroom unit with a year remaining on the lease at $900/month. Unit 4 is located at the back of the second floor and is a one bedroom, one bathroom unit with a year remaining on the lease at $950/month. Lastly, Unit 5 is located on the top floor and is a large studio with one bathroom and a remaining lease of 1 year and 7 months at $800/month. The garage is currently being rented out at $1,500/month and is 42 x 22 feet. All together, the total income on all units (including the garage) is $6,400/month, with all units currently pulling below-market rent. The property is surrounded by new apartment complexes, fetching northwards of $1,750 a month for a 1 bedroom apartment! Each unit features updated flooring, neutral paint, granite countertops with updated cabinetry in the kitchens, renovated bathrooms with a tile surround, and an abundance of natural light throughout all three floors and 5 units. This recently renovated property offers peace of mind with all new electric, plumbing, and a brand-new roof, ensuring long-term durability and efficiency. Fully leased with all rents up to date, the property provides immediate, stable income. The necessary permits have been properly pulled, and the required fire alarm system is already installed for added safety and compliance. Additionally, all electric meters are separately metered (six in total, including the house meter), offering convenience for both tenants and property management. The location of this investment property is second to none, offering tenants the convenience of the growing Frankford neighborhood of Lower Northeast Philadelphia. Commuting is a breeze with nearby I-95, the Tacony-Palmyra Bridge and Betsy Ross Bridge into New Jersey, a short walk to SEPTA Bus Lines 3 and 56, and just a half block walk to the Church Station on the SEPTA Market Frankford Line into Center City. Additionally, this property is located blocks away from Piccoli Playground, Joseph Deni Recreation Center, and walking distance away from Allen M Stearne Elementary School. The Shoppes of Wissinoming and Harrowgate Plaza Shopping Center are also nearby for all of your dining, shopping, and grocery needs. Don't miss your chance to make this property - schedule your private showing today!