Off Market Buy & Hold Opportunity
Investment Type: Buy and hold
Address: 2305 Loney St, Philadelphia PA 19152 Google Maps
Asking Price: $327,000ARV: $365,000 | 2329 Rhawn St | (0.3 mi) distance and $350,000 | 1901 Stanwood St (0.7 mi)
Neighborhood: desirable Northeast Philadelphia, Rhawnhurst
Property Type: Duplex, Both Units 1 Bed, 1 Bath
Taxes: $3,877.45
Tenant: Both month to month, currently under market rent $700 (1st floor) and $575 (2nd floor) and garage $30. The potential is $1,300 for each unit and $100 for the garage to a total of $2,700.
After repair rental comps: $1,329 and $1,259
Documents available: Seller's Property Disclosure, Estoppel Agreement, 2 Lease Agreement, Rental License
Repairs needed: Window replacement, paint, new flooring, new cabinets, reglaze bathroom
Videos and Photos
Acceptable Financing: Cash, Conventional, Hard Money (Being sold as-is)
Best, Najah Yasin | REALTOR® | 267-304-7093 | Keller Williams Washington Township
Heads up: Your two comps are both 2bed/1bath duplexes, so they don't match up quite with your deal with 1bed/1bath units.
Najah, this does not look like a super great deal at 327K. I did a quick look and I think it is worth about 280 to 300K if no major work is required. It is in a great area of Philadelphia and depending on your investment goals it could be a good investment. Let me know if you're still interested in it and I can do a deeper analysis for you.
