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Property Description

MULTIFAMILY INVESTOR ALERT: Solid Mixed-Use 3,627 SF FivePlex Investment Opportunity offeringnsubstantial value-added space. Zoning CMX1. || This property is composed of a 24’ x 112′ or 2,744 SF lot that contains two brick buildings: a two-story main building 21.7’x64′, and a nicely proportioned one-story undeveloped accessory building 24’ x 40′. The main building contains one commercial space, plus three apartments. Separate heat, hot water, gas and electric. Furthermore, a side-set on the main buildingnpermits windows on all four sides. || The vacant accessory building offers an opportunity to add a fourth large apartment or, consider adding a second level to make the property a legal sixplex, by right.nThe owners purchased this property 15 years ago. They have enjoyed 100% occupancy as a steady-reliable source of income. The occupants are responsible long-term tenants. The longstanding commercial tenantnpays current market rent. Residential tenants are month-month with below-market rent which has been the same for ten years. There have been no structural nor mechanical concerns throughout the sellers’nownership. Dry basement, dry roof, and good bones. Handsome commanding presence, with modest curb appeal. || The market-rate financial metrics demonstrate that this offering is a solid investment opportunity for a new owner who upgrades the residential apartments to keep pace with recent lifestyle preferences and builds out the ground level of the accessory building. || Market Rate Proforma Financial Metrics:nGPI: $57,513, EXPENSES: 23%, NOI $41,533, CAP 8.31%. A leveraged project investment of 25% or $124,947 for a 75% LTV mortgage that includes both acquisition and construction costs yields an annual 15% cash-cash ROI with a DSCR of 1.81. Ask to see the complete Financial Worksheet. || Gobble up this workhorse opportunity and grow your real estate portfolio with this solid product. Review the photos, plan view, property details, financial metrics, and give us a call. Feel free to contact us with any questions or your expression of interest. Motivated Seller. Strong opportunity to grow. Go For It!.

Features
: Public
0
: Brick
: Wood
N
: Electric
: Natural gas, Electric
: Natural gas
0
N
N
N
: Electric Available, Cable Tv Available, Natural Gas Available, Sewer Available, Water Available
MLS Addon
Keller Williams Philadelphia
Charles Balducci
Annually
Annually
121134681525
THE SCHOOL DISTRICT OF PHILADELPHIA
0 Acre
3,627 Acre
0
: Average
0 Acre
No
: Standard
$4,282
2021
CMX1
: Public Sewer
: Public
Apartment Building,Hair Salon and Spa
Commercial Features
0 Acre

Commercial Sale

416 OLNEY AVENUE, PHILADELPHIA, Pennsylvania 19120

0.06 Acre
$450,000
Listing ID #PAPH2012458
Basic Details
Property Type : Commercial Sale
Listing Type : Residential Sale
Listing ID : PAPH2012458
Price : $450,000
Year Built : 1930
Lot Size : 0.06 Acre
State : PA
County : PHILADELPHIA
City : PHILADELPHIA
Zipcode : 19120
Status : ACTIVE
Subdivision Name : OLNEY
Property Sub Type : Mixed Use
Price Per SQFT : $124
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