$1,600,000
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1701 N 20TH Street Philadelphia, PA 19121 Municipality: Philadelphia
Multi-Family
Residence
Beds
Baths
8,800
Sq. Ft.
0.08
Acre
Lot
Property Activity
Time on Site
days
Days on Market
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Introducing an ðamazingð investment opportunity in the â¤ï¸heartâ¤ï¸ of Philadelphia! This 12-unit property, located at 1701-3 N 20th St, offers an attractive ð°cap rate of approximately 6.39% based on its purchase price of $1.6 million. ð¡ð¢ ð¢ Property Highlights ð¢ ð¡ Mix of 1-2 and 4 bedro...om units ð Potential for increased rental income ð Fantastic cash flow opportunity ðï¸ Proximity to top universities and public transportation ð° Financials ð° With this purchase price, the property offers an annual income of approximately ðµ$136,392ðµ with total expenses of ð¼$34,098ð¼. This results in a net operating income of around ð²$102,294ð² per year, contributing to the appealing cap rate. ð Unlock the Potential ð While the property needs some cosmetic upgrades and minor repairs, it is still a fantastic investment opportunity with enormous potential. ðï¸â¨ By investing in these upgrades, you can transform this property into a highly desirable rental for tenants. ð Fully Occupied Potential ð If fully occupied, the gross rental income could reach ð²$174,288ð² with the expenses at roughly ð¼$43,572ð¼. This suggests a potential net operating income of around ð°$130,716ð° per year. which would put this property at a 8.17 % Cap rate at a 1.6 M purchase price. ð Location, Location, Location ð Located in a vibrant and bustling area of Philadelphia, tenants will have plenty of nearby shopping ð, grocery options ð, and other amenities ð¬ to choose from. The area is home to several supermarkets ð, including Aldi and H Mart, and boasts a wide range of restaurants ð, cafes â, and bars ð¸. There are also several parks ð³ and green spaces ð¿ nearby for outdoor activities ð. ð Perfect for Students and Young Professionals ð The property's proximity to top universities, including Temple University ð and Drexel University ð, and its easy access to public transportation ð make it an ideal choice for students ð and young professionals ð¼. The neighborhood is a lively and bustling area of the city, offering something for everyone. ð If you're looking for a property with enormous potential that offers strong cash flow and room for growth, this is an excellent choice. ð Contact me today to schedule a viewing and see the potential for yourself! ðð¡ð°
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MLS#
PAPH2372810
Property Type
Multi-Family
Year Built
1915
Square Feet
8,800
sq. ft
Price per Sq. Ft.
$181.82
Lot Size
0.08
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