Very clean and updated duplex in HOT South Philadelphia/Lower Myomensing. Excellent cash flow positive investment. Convenient to stadiums, Broad Street Line and Center City! With this updated duplex you could live in one unit and rent out the other OR rent out both. This duplex offers two, 1 bedroom units, each with updated kitchens, living room, updated full bath AND washer and dryer in each unit. Separate electric and gas but water is shared. The 1st floor unit is not occupied and ready for either a new tenant or the owner occupant. Seller was getting $850 in rent but that was a long term tenant and could easily be raised to $900 or maybe $950 a month. You can also rent the former garage/storage to tenant for an additional $100 or rent that separately. The 2nd floor unit has been there for years and would like to stay. Tenant is paying $800 rent which is under market rent. Lease is up in May 2018. 1st floor has access to large, unfinished basement for storage. There is also an attached storage unit that was a garage which owners were using for personal use. This large storage unit has a separate, locked entrance from the street or inside 1st floor unit and can be rented out to one of the tenants for additional rent or to a third tenant altogether, either way providing additional income for the new owner. Market rate is at least $100/month making the total potential income for this property $1,850 to 1950/month. With 20% down at today's rate, total monthly payment with taxes and insurance is only $1,354 thereby making this property $500 to 600 cash flow POSITIVE a month! Or, simply rent out one unit and live in the other unit for just $450 a month more! Don't wait to tour this property but know that 24 hour notice is required for 2nd floor tenant. Great investment opportunity in a HOT neighborhood!
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