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922 S 49th Street
Philadelphia, PA 19143
19143 Southwest Phila Cobbs Creek
Philadelphia School District
City of Philadelphia
# of Units
4
2 Bdrm Units
2
3 Bdrm Units
2
Acres
0.06
Interior SqFt
4,500
Age
124
Heating
N/A
Cooling
Central A/C
Water
Public
Sewer
Public
Garages
0
Taxes (2024)
6,946
Additional Details Below

Description

Presenting 922 S 49th, a totally renovated income-producing 4,500 SF quadplex (4 units) ideally located in University City Philadelphia, the region's leading employment hub which drives Philly's prominent "eds and meds" high-skilled/paid workforce. 3 rented - 1 vacant - Ideal for an owner-occupier looking to leverage personal financing. The three rented Units are leased significantly under market due to timing with Covid, offering the new owner/operator immediate increased yield in Year 1+. Pro forma cap rate is 8%+ with market rents compared. The unit mixed includes 2 (two bedrooms), 1 (three -bedroom), and 1 (four-bedroom) which perfect for grad students and professionals. A tenancy mixture (grad students and professionals) is common at the property with previous tenants including Adjunct Professors and Penn Law Students. Features include modern kitchens and bathrooms, hardwood floors, bay windows and high ceilings, spacious rear yard, charming front porch, in-unit washer/dryers, lower level common storage. The University of Pennsylvania, Drexel University, the University of the Sciences and the Restaurant School at Walnut Hill College all share turf here, in the city's bustling, culturally diverse academic heart. Cutting-edge exhibitions at the Institute of Contemporary Art attract hip crowds. Budget-friendly dining options include street food stalls and international eateries, and there are plenty of casual bars. Tax abatement has been approved to reduce taxes, further reducing expenses and increasing the future yield. All utilities are paid by tenants will very low operating costs for owners. All units have central air. All power to the building is electric, there is no gas utility. Fire Sprinkler is active further reducing insurance costs owner is a licensed reatlor

Location

Listing Details

Interior Features
Basement

•Block

Exterior Features
Exterior Features

•Stone

Utilities
Cooling

•Central A/C, Natural Gas

Heating

•Central, Central

Hot Water

•Natural Gas

Sewer

•Public Sewer

Water

•Public

Property History

Date
Change
Price

Miscellaneous

Assessment : 0
Zoning: Rsa3
Lattitude : 39.945564
Longitude : -75.218613
MLS# : PAPH2314500
Views : 51
Listing Courtesy: Ben Finelli of RE/MAX Ready

Notes

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