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922 S 49TH STREET, Philadelphia, Philadelphia County, PA, 19143

For Sale

Listed by Ben Finelli with RE/MAX Ready
$925,000 USD
$925,000 USD
  • 4,500 Sqft
  • 0.06 ac Lot Size
  • MultiFamily
Open House
No open houses are scheduled at this time.
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Property Summary for 922 S 49TH STREET

Type
MultiFamily
Sub-Type
Townhouse
Listing Status
Active
Lot Size
0.06 Ac
MLS Number
PAPH2314500
Year Built
1900
Taxes
$6,946 USD
Neighborhood
Cedar Park
Zip
19143
School District
Philadelphia City School District

Description for 922 S 49TH STREET

Presenting 922 S 49th, a totally renovated income-producing 4,500 SF quadplex (4 units) ideally located in University City Philadelphia, the region's leading employment hub which drives Philly's prominent "eds and meds" high-skilled/paid workforce. 3 rented - 1 vacant - Ideal for an owner-occupier looking to leverage personal financing. The three rented Units are leased significantly under market due to timing with Covid, offering the new owner/operator immediate increased yield in Year 1+. Pro forma cap rate is 8%+ with market rents compared. The unit mixed includes 2 (two bedrooms), 1 (three -bedroom), and 1 (four-bedroom) which perfect for grad students and professionals. A tenancy mixture (grad students and professionals) is common at the property with previous tenants including Adjunct Professors and Penn Law Students. Features include modern kitchens and bathrooms, hardwood floors, bay windows and high ceilings, spacious rear yard, charming front porch, in-unit washer/dryers, lower level common storage. The University of Pennsylvania, Drexel University, the University of the Sciences and the Restaurant School at Walnut Hill College all share turf here, in the city's bustling, culturally diverse academic heart. Cutting-edge exhibitions at the Institute of Contemporary Art attract hip crowds. Budget-friendly dining options include street food stalls and international eateries, and there are plenty of casual bars. Tax abatement has been approved to reduce taxes, further reducing expenses and increasing the future yield. All utilities are paid by tenants will very low operating costs for owners. All units have central air. All power to the building is electric, there is no gas utility. Fire Sprinkler is active further reducing insurance costs. owner is a licensed reatlor
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Features for 922 S 49TH STREET

Heating
  • Heating Systems: Central Furnace
Building Features
  • Units: 4
Exterior Finish
  • Stone
Cooling
  • Central A/C
Listing provided by Realty Group PA II
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Listed by:
Ben Finelli

RE/MAX Ready

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