Value Add - Occupied Triplex by Temple U in N Philadelphia

21** N 19th St.
Philadelphia PA 19121
15 Min walk from Temple Main Campus
STUDENTS WILL FLOCK TO YOU

Property fully occupied. Aquire and get immediate cash flow
Showings for qualified buyers only.
Contact us.

2,016 sq ft
RM-1 Zoning
Triplex - Occupied
Unit Mix;
1st floor is a 1 / 1. Rented for $650 / mo. No lease.
2nd floor is a 2 / 1. Rented for $550 / mo. Month to month lease.
3rd floor is a 1 / 1. Rented for $450 / mo. Month to month lease.
Purchase Price - $207,500

Pick up this multi family triplex in the ever expanding Temple University area. Property is dated but is fully rented. We love this deal because you've got options.

You can pick up this already rented triplex and simply keep the current tenants, and increase rents upon turnover with cosmetics and minimal work done to units. This of course would limit your monthly rents but would also limit cash outlay.

ORRR

You could buy this. Get the tenants out at once and then rehab the entire building. This would allow the new owner to more aggressively push rents and maximize value.

Area Rents;
- 1 bed / 1 bath units renting for $800 - $1,150
- 2 bed / 1 bath units renting for $900 - $1,300

COMPS;
- SOLD - 1900 W Diamond St was within .01 miles and settled 3.29.29 for $411,000. Triplex
- SOLD - 1739 W Diamond St was within .01 miles and settled 2.19.19 for $414,300. Triplex
- Active / Under Contract - 2244 N 16th St is within .02 miles and has a list price of $249,900. Triplex
- Active - 2248 N 21st St is within .02 miles and is active for $500,000. Triplex

Special notes regarding the first floor tenant. This tenant has apparently been here for years and is a hoarder. Current seller inherited the tenant and they never left. That is why there is no lease in place. Limited access.

Utilities;
Heat - Gas. One big furnace in basement that heats the whole house. Space for 4 meters but only 2 meters installed.
Electric - 1 electric panel.
Water - 1 water meter.
Hot water - 1 tank - gas.

Since this property is occupied we will be doing showings for qualified buyers.

Please call us if interested or if you have any questions.

Call/text/email Derek:
215-372-8755||| [email protected]

*We have this property under contract and are looking to assign our contract to an end buyer. Terms of contract are as-is purchase with buyer paying all closing costs and both sides of transfer tax.
*Cash and hard money buyers only! Cash offers preferred -- should be accompanied by POF
*Agents welcome -- 3% buyer commission
*Quick closing preferred
*Buyer handles U/O and pays closing costs and full transfer tax

Location:

21** N. 19th St., Philadelphia, PA 19121