For Sale

Description

PRICE REDUCTION! Invest in the heart of Northern Liberties & Fishtown with this exceptional real estate opportunity! Currently, all residential units are rented at $2,200 / $2,220 a month significantly below the prevailing market rates, offering turnkey stability with an upside with under market rents. Unit 2 renewed their lease for $2,350 until May of 2025, with Unit 3 being significantly under-market as a long-term Tenant and lease expiring in August 2024. This meticulously maintained mixed-use property boasts a prime location, offering substantial potential for increased income, and is easy to rent. The significant completed repairs include a new sewer line, basement water proofing with new sub-pump, and new rubber roofing. The ground floor features a bi-level commercial retail space housing a busy hair salon. Tenant is currently paying $3,990 monthly with annual rental increases of 4% for the next two years and has a three-year extension option. The Commercial Tenant is responsible for Snow/Ice Removal in front of the building. Above the retail space, the second floor presents a welcoming residential unit with two bedrooms and one bathroom with a private balcony. Ascending to the third floor, you’ll find another residential unit, that resides a long term tenant also with two bedrooms and one bathroom. This unit distinguishes itself with a spacious roof- deck and an additional balcony that grants breathtaking views of Center City. Throughout all units, the property showcases hardwood floors and elegant picture frame molding with open concept kitchens including stainless steel appliances, granite countertops, and custom-tiled kitchen backsplashes and bathrooms. Each unit also features in-unit washer/dryer and a central monitoring alarm system. This Turn-Key Property is characterized by its ease of maintenance, beautiful unit layouts, and excellent location making it an attractive proposition for both long-term investors and owner-occupants. Additionally, the location grants easy access to major thoroughfares such as I-95 and 676.