$369,000
$399,900
7.7%For more information regarding the value of a property, please contact us for a free consultation.
3,120 SqFt
SOLD DATE : 03/31/2023
Key Details
Sold Price $369,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 3,120 sqft
Price per Sqft $118
Subdivision Temple University
MLS Listing ID PAPH2182500
Sold Date 03/31/23
Style Traditional
Abv Grd Liv Area 3,120
Originating Board BRIGHT
Year Built 2013
Annual Tax Amount $6,047
Tax Year 2023
Lot Size 1,712 Sqft
Acres 0.04
Lot Dimensions 16.00 x 107.00
Property Description
Calling all investors/house-hackers! Here's your opportunity to purchase a freshly turned over duplex, right off of Temple University's campus, at 2353 N Park Avenue. This newer construction duplex (Built in 2013) features two bi-level units; a 4 bed/2 bath unit on the first floor and basement level and a 5 bed/2 bath unit on the second and third floors. Each unit features a mixture of hardwood flooring & carpet flooring (mainly in the bedrooms) and are equipped with "mid-grade" finishes which are more than good enough for student housing. Cherry-red cabinetry, granite countertops, tiled backsplash and stainless steel appliances are featured in both units. This is located just one block off of North Broad Street and four blocks away from Temple's Main Campus. Not to mention, there's also a shuttle bus service that transports students from Main Campus to their respective off-campus apartments/homes. Unit 1 is projected to rent out for at least $2,000/month while Unit 2 is projected to rent out for $2,500/month. *These rents have been achievable by current ownership in the past. Using these numbers and conservatively putting 25% of revenue aside for expenses/reserves, this building is priced at a 10.12% Cap Rate! The entire building has been professionally cleaned, re-painted, and laid with new carpeting in the common area hallway and bedrooms. This is also an excellent opportunity to AirBnB the entire building to achieve higher rental income versus standard market rate rents. With an abundance of over-priced, multi-family inventory all throughout Temple University, here we have an appropriately priced offering that's now available and fully turn-key. Please inquire with the listing agent for more specific financials on the property.
Location
State PA
County Philadelphia
Area 19132 (19132)
Zoning RM-1
Rooms
Basement Fully Finished
Interior
Hot Water 60+ Gallon Tank
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Roof Type Flat
Accessibility 2+ Access Exits
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Tax ID 371286001
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
Financing Cash,Conventional,FHA,VA
Special Listing Condition Standard
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