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