BEDS0
BATHS
SQUARE FEET4,000
MLS#PAPH2673880
STATUSACTIVE
PROPERTY TYPEMulti Unit - Multiple
SCHOOLPHILADELPHIA CITY
Property Description
We are pleased to present 3607 Spring Garden Street, a six-unit multifamily investment opportunity located in Philadelphia. Offered at $1,500,000, the property was built in 2018 and totals approximately 4,950 rentable square feet, with an average unit size of approximately 825 square feet. The property features a highly differentiated unit mix consisting of five three-bedroom / three-bathroom residences and one two-bedroom / two-bathroom residence. Current rents range from $1,500 to $2,010 per month, generating $11,250 in monthly scheduled rent and $135,000 in annual Gross Scheduled Rent. The asset generates $107,197 in current Net Operating Income, representing a 7.15% going-in capitalization rate at the asking price. Year 1 underwriting projects Gross Scheduled Rent of $141,750 and NOI of $113,288, resulting in a 7.55% Year 1 capitalization rate. At approximately $250,000 per unit and $303.03 per rentable square foot, 3607 Spring Garden Street provides investors with immediate cash flow, a modern residential product, and continued income growth potential in a well-located Philadelphia multifamily asset.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Cooling: Central A/C, Multi Units, Other
Fuel Type: Electric
Home Style: Other, Traditional
Lot Size: 0.06 Acres
Taxes: $2,136
Year Built: 2018
Feature Descriptions
Additional Structures: Above Grade, Below Grade
Days on Site: 23
Exterior: Masonry
Lot Dimensions: 0.06 Acre(S)
Municipality: PHILADELPHIA
Number of Rooms: 6
Structure Type: Other
Three Bedroom Units: 5
Two Bedroom Units: 1
Units: 1
Water: Other, Private
Local Schools
High School: SAMUEL S. FELS
School District: PHILADELPHIA CITY
Listed By / Shown By
Listed By
Agency Name: Trophy Commercial Real Estate LLC
Agency Phone: 2156085745
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 3,953.85 per month $3,338.35 Principal & Interest $178.00 Property Tax $437.50 Homeowner's InsuranceChange Payment Information
3607 Spring Garden Street | MLS# PAPH2673880
This multi-family property located at 3607 Spring Garden Street, Philadelphia, PA 19104 is currently listed for sale with an asking price of $1,500,000. Spring Garden Street is located within the PHILADELPHIA CITY school district. Search Philadelphia real estate on www.realtymarkllc.com today.