multifamily
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$625,000
Philadelphia, PA 19128
- 2,585 Sq Ft
- 0.20 Acres
PAPH2441816
Feb 6, 2025
65.00 x 135.00 Square Feet
Other
PHILADELPHIA CITY
$8,048
2024
Brokered By Philadelphia Area Realty
Listed By Christopher Wagenhoffer
Listed By Christopher Wagenhoffer
Branch MLS ID/ID: PHLAREA/130509
Agent MLS ID/ID: 3174326/1209260
Directions
Ridge ave to Cinnaminson
Bright MLS
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Property Details
This property in Roxborough is an attractive investment opportunity, particularly for builders or investors looking to capitalize on under-market rental rates and additional land for development. Here are some key points based on the description provided: Location: Roxborough (specific address not provided) Type: Duplex Units: 1st Floor: 2 bedrooms 1 bathroom Monthly rent: $800 (below market value) 2nd Floor: 3 bedrooms 2 bathrooms Monthly rent: $1800 Renovated Additional Feature: Extra lots, suggesting potential for expansion or additional development. Investment Considerations: Rental Income: Currently, the property generates $2,600 per month in rent. If the first-floor unit's rent were adjusted to market rates, this could potentially increase. Renovation and Upgrades: The second floor has already been renovated, which might attract higher-quality tenants or justify higher rent. The condition of the first floor could be a focus for future improvements. Development Potential: With extra lots, there's room for further investment like building additional units or expanding the existing structure, subject to zoning laws and permits. Next Steps: Viewing: It's recommended to make an appointment to inspect the property in person to assess the condition, potential renovation needs, and to better understand the neighborhood.