HUGE PRICE REDUCTION!! Investor alert as opportunity awaits at 1224 W Allegheny corner multi-family property with 2,224 Abv Grd Fin SQFT! Excellent cash flow! There is a spacious quadruplex with flexible parking in both sides of each street (Allegheny Ave & Camac St) for sale in the Temple University/hospital area of Philadelphia waiting for its next Landlord! All 4 units' walls and ceilings are freshly painted and got cleaned recently as well. It is essential to mention that each unit has separate utilities and they also have enough space for laundry. The distribution of this multi-family building is; unit 1: 5 rooms/1bath (this unit also has a private entrance on Camac St), unit 2: 2 rooms/1 bath, unit 3: studio, unit 4: 4 rooms/1bath (Please see the pictures with the name of each section of the property for better understanding its distribution). In this area, the rent comparables show the following: 2 bed/1bath with laundry room units are rented between $950-$1,300, studios are rented between $600-$850, 1 bed/1bath are rented between $800-$1150 and 2 bed/bath $950-$1,150; therefore, and estimated monthly gross income of the total rents would be between $3,300-$4,450, and an estimated yearly gross income of $39,600-$53,400 (This estimated rent prices depends on the condition and size of each unit). The property is completely vacant and ready to move in the new tenants, knowing its proximity to universities & hospitals, it is a very demanding area for rent and the new owner will be able to charge good amounts of monthly passive income. The property has a lot of potential because of its size, location, and distribution. Another advantage of this property is that it already has the front yard fenced which helps a landlord control the trash of each unit in order to avoid any possible violations on the property--within walking distance to public transport, shopping, and restaurants. New construction and rental properties lined up together in one of the hottest rental areas of Philadelphia. Rents keep going up, don't let this opportunity pass you by!
A new torch down rubber roof was recently done to the main roof and 2 bay roofs on the property. Also, it has been installed a new drain box, downspouts and metal flashing on the main roof. All new roofs come with a 10 Year Warranty that expires in August of 2032. The property is being sold in "asi-is" condition.
