TRI-PLEX Investment w/Plans Gutted And Ready To Build! This property is located on Walnut Street between 46th - 47th Streets. Two blocks south of the old West Philly High, on the corner of 47th and Walnut streets, where Plans have been approved to build mixed-use loft apartment complex at the site, serving an estimated 290 residents with an average price of $800-850 per one-bedroom apartment. Just blocks to shopping, Fresh Grocer & ALDI Grocery Stores, movies, dining, and more. This property is close to everything University City has to offer in close proximity to public transportation. To the southeast, home values have soared, due largely to the success of the Penn Alexander Elementary School. Won't Last : Plans Filed for : 3,682 SF, Three-Unit building: 1 - 3 Bedroom + 2 Bath. 2 - 2 Bedroom + 1 Bath. 1 - 645 SF Commercial Storefront. Plans: Each Unit includes Central AC; W/D in Units Property has great Potential cash flow, bringing in $5,375/month in rent. Each Unit Pays Own Heat/Hot Water, Gas & Electric FINANCIAL ANALYSIS SUMMARY Gross Rent Roll: $ 64,500 NOI: $ 46,311 Going In Cap Rate: 9.00% Cap Ex: $ 155,000 Completed Market Value: $ 668,000 (9% Cap Rate) Asking Price: $ 275,000 No. Units: 3 No. Commercial: 1 Building Size: 3,450 SF Property Type: Multifamily+ Commercial Property Sub-type: Low/High-Rise Property Use Type: Investment This is a solid investment to add to your portfolio. By Owner. Brokers Protected. Bring All Offers
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