1701-3 N 20TH Street

Description

Introducing an amazing investment opportunity in the heart of Philadelphia! This 12-unit property, located at 1701-3 N 20th St, offers an attractive 'cap rate of approximately 6.39% based on its purchase price of $1.6 million. Property Highlights Mix of 1-2 and 4 bedroom units Potential for increased rental income Fantastic cash flow opportunity Proximity to top universities and public transportation' Financials 'With this purchase price, the property offers an annual income of approximately '$136,392' with total expenses of '$34,098'. This results in a net operating income of around '$102,294' per year, contributing to the appealing cap rate. Unlock the Potential While the property needs some cosmetic upgrades and minor repairs, it is still a fantastic investment opportunity with enormous potential. By investing in these upgrades, you can transform this property into a highly desirable rental for tenants. Fully Occupied Potential If fully occupied, the gross rental income could reach '$174,288' with the expenses at roughly '$43,572'. This suggests a potential net operating income of around '$130,716' per year. which would put this property at a 8.17 % Cap rate at a 1.6 M purchase price. Location, Location, Location Located in a vibrant and bustling area of Philadelphia, tenants will have plenty of nearby shopping ', grocery options , and other amenities to choose from. The area is home to several supermarkets ', including Aldi and H Mart, and boasts a wide range of restaurants ", cafes , and bars . There are also several parks and green spaces nearby for outdoor activities ." Perfect for Students and Young Professionals "The property's proximity to top universities, including Temple University " and Drexel University ", and its easy access to public transportation make it an ideal choice for students " and young professionals '. The neighborhood is a lively and bustling area of the city, offering something for everyone. If you're looking for a property with enormous potential that offers strong cash flow and room for growth, this is an excellent choice. Contact me today to schedule a viewing and see the potential for yourself! "'