BEDS0
BATHS
SQUARE FEET2,000
MLS#PAPH2661604
STATUSACTIVE
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONMT AIRY
SCHOOLTHE SCHOOL DISTRICT OF PHILADELPHIA
Property Description
This well-maintained and fully occupied approved three-unit multifamily property offers immediate in-place income and an attractive opportunity for investors. The property features a desirable unit mix consisting of one 1-bedroom/1-bath apartment and two 2-bedroom/1-bath apartments. Current rents are $1,325 per month for the 1-bedroom unit and $1,575 and $1,750 per month for the two 2-bedroom units, generating $4,650 in monthly rental income and $55,800 in annual gross income. See available income and expenses in documents. The property has been well maintained, with recent kitchen and bathroom upgrades providing modern finishes while retaining the character of the building. Units offer bright living spaces, hardwood flooring and updated kitchens and baths. The attractive stone and brick exterior further distinguishes the property. Utilities are separately metered and paid by the tenants, with the landlord responsible for water, helping to keep owner operating expenses low. Offered at $600,000, the property generates approximately $41,670 in NOI, representing a 6.95% capitalization rate based upon current operations. With established tenancy, recent interior improvements and approximately a 7% in-place cap rate, 2 E McPherson Street presents an attractive opportunity to acquire a stabilized, income-producing multifamily property with immediate cash flow.
Property Features
Property Type: Multi Unit - Multiple
Basement: Connecting Stairway
Basement: Yes
Cooling: None
Fuel Type: Natural Gas
Heating: Hot Water
Home Style: AirLite
Lot Size: 0.04 Acres
Taxes: $4,942
Year Built: 1952
Feature Descriptions
Additional Structures: Above Grade, Below Grade
Days on Site: 12
Exterior: Sidewalks
Exterior: Masonry
Lot Dimensions: 0.04 Acre(S)
Municipality: PHILADELPHIA
One Bedroom Units: 1
Sewer: Public Sewer
Structure Type: End of Row/Townhouse
Two Bedroom Units: 2
Units: 3
Water: Public
Local Schools
High School: MARTIN LUTHER KING
Middle School: ADA LEWIS
Elementary School: ABRAM JENKS
School District: THE SCHOOL DISTRICT OF PHILADELPHIA
Listed By / Shown By
Listed By
Agency Name: EXP Realty, LLC
Agency Phone: 8883977352
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 1,922.17 per month $1,335.34 Principal & Interest $411.83 Property Tax $175.00 Homeowner's InsuranceChange Payment Information
2 E Mcpherson Street | MLS# PAPH2661604
This multi-family property located at 2 E Mcpherson Street, Philadelphia, PA 19119 is currently listed for sale with an asking price of $600,000. E Mcpherson Street is located within the THE SCHOOL DISTRICT OF PHILADELPHIA school district. Search Philadelphia real estate on www.realtymarkllc.com today.