Listed By:
Select Commercial Advisors
Address
332 N 62Nd Street, Philadelphia, PA
Price
$ 399,900
Property Attributes
  • MLS#PAPH2338956
  • TypeMulti-Family
  • CountyPHILADELPHIA
  • CityPhiladelphia
  • Area19139
  • Zip19139
  • StyleAirLite
  • Year Built1915
  • Taxes$ 1947
  • Price$ 399,900
  • Bedrooms3
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size1,742 SqFt
Data Source:
Bright MLS
Property Description

INVESTORS BEHOLD! 332 N 62nd Street is a golden opportunity for savvy investors seeking a lucrative addition to their portfolio. This property is also perfect for the beginning investor looking for their first investment. The property is part of a six unit portfolio. Here's what makes this investment stand out: **Income Potential:** This multi-unit property boasts 4 spacious units, each offering comfortable living spaces and modern amenities. Whether you're targeting long-term renters or looking to live in one of the units and rent the others, the income potential is substantial. With competitive rental rates in the area and increasing demand for housing, you can expect a consistent cash flow and attractive returns on your investment. **Value-Add Opportunity:** While the property is already generating income, there's ample room for value enhancement. With a strategic renovation or upgrade plan, you can maximize rental income and increase property value. Whether it's modernizing interiors, enhancing curb appeal, or adding amenities, the potential for appreciation is significant. The property does already have a State of the Art Security System with electronic entry and a full sprinkled interior with an up to date fire alarm system. **Prime Location:** Situated in the vibrant and rapidly developing Haddington neighborhood of Philadelphia, this property is strategically positioned to capitalize on the growth of West Philadelphia. It is a short walk to the Market/Frankford 63rd street station. The #30 & #31 buses are steps away. There is easy access to major transportation routes, as well as, all of the renowned West Philadelphia universities, employment hubs, and a plethora of amenities. This location is highly desirable for tenants seeking convenience and connectivity. Very close to Haddington Woods and Cobbs Creek Park. Wonderful restaurants are within walking distance: Jims Steaks West, 5-Star Jamaican, Morronnes Water Ice etc. **Stable Market Dynamics:** West Philadelphia's real estate market has demonstrated resilience and stability, making it an ideal environment for investors seeking long-term growth. With a diverse economy, a thriving job market, and a steady influx of residents, the demand for rental properties remains robust. **Investment Highlights:** - Multi-unit property with 4 units - Prime location in the heart of Philadelphia, PA - Strong rental demand and competitive rental rates - Value-add opportunities for increased cash flow and appreciation - Stable and growing real estate market with favorable investment conditions 332 N 62nd Street offers an exceptional blend of potential and profitability.

Price History
4/12/2024 Listed $399,900

General Features

Sewer Public Sewer
Heating 90% Forced Air
Cooling Central A/C
Possession Immediate
Zoning RM1
Pool Y/N No Pool
Architectural Style AirLite
Construction Materials Masonry
Exclusions Tenant possesions
Year Built 1915
Electric 200+ Amp Service
Property SubType Quadruplex
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel None
Accessibility None
County PHILADELPHIA
New Construction No
Property Type Multi-Family
Garage Y/N No
Water Access Y/N No
Other Structures Above Grade,Below Grade
Transportation Bus Stop less than 1 mile,Metro/Subway Station less than 1 mile,Commuter Rail Station less than 1 mile
Status ACTIVE
Directions From the intersection of Haverford Ave and Girard Ave: Head west on W Girard Ave toward Haverford Ave/SR 3018/State Rte 3018 Turn left onto N 61st St Turn right onto Noble St Turn left onto N 62nd S
ModificationTimestamp 2024-04-25T13:16:19
City PHILADELPHIA
Buyer Agent Compensation 2.75
Total Units 4
MLS Area 19139 (19139)
Lot Size Square Feet 1911.00
Tax Assessed Value 139100.0
Waterfront Y/N No
Number of Units Leased 4
Street Name 62ND
Tax Annual Amount 1947.0
Home Warranty Y/N No
Two Bedroom 1
Structure Type Interior Row/Townhouse
Single Room Units Count 2
One Bedroom Units Count 1
NumberOfUnitsVacant 1
Other Units Unit 1,Unit 2,Unit 4,Unit 3
Price Per Sq Ft 212.71
Acceptable Financing Conventional,FHA,Cash,VA
Rent Control Y/N No
Vacation Rental Y/N No
Total SQFT 1880
Days on Market 14
Standard Status Active
Year Built Source Assessor
Tax Lot 27
Total Actual Rent 46800.00
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Natural Gas
Basement Improved
Hot Water Natural Gas
Basement (Y/N) Yes
Heating Y/N Yes
Fireplace Y/N No
Street Suffix STREET
Central Air Y/N Yes
LivingAreaSource Assessor

Exterior Features

Water Source Public
Type of Parking On Street
Land Use Code O50
Foundation Details Other
Water View Y/N No
Lot Dimensions 16.00 x 122.00
Lot Size Acres 0.04
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 27800.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 19139

Price
AVG $410K
$400K
Taxes
AVG $2,509
$1,947
Visits
AVG 187
46
Data Provided by Inside Real Estate®
Year Built
AVG 1940
1915

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Vanessa Setzer

REALTOR®

757-276-7063

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