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2307 North Park Avenue

$479,000

2307 North Park Avenue, Philadelphia, PA 19132

Active
Last Updated: 09/28/2021

10.71

Pro Forma Cap Rate

2,934 sqft

Building Size

Details:
Pro Forma Cap Rate :    10.71%
Building Size:    2,934 sqft
Lot Area:    1,712 sqft
Class:    B
Units:    4
GRM:    7.6
Year Built:    1915
Zoning:    RM1
Floors:    3
Year Last Renovated:    2020
Investment Strategy:    Opportunistic
Description:

Calling All Investors: High CAP investment property within close proximity to Temple University  and around the corner from the Broad Street subway line.

 This 4 family, 2,934 sq ft, 8 bedroom / 4 bathroom was just completely renovated from top to bottom. All units and common areas have new waterproof, acquaseal flooring, kitchens equipped  with stainless steel appliances, including microwaves in all units, subway tile back splash, and white quartz countertops. Bathrooms have new toilets, vanities, and subway tile showers, all new shower fixtures as well. New light fixtures in all apartments and common spaces.
The first floor features a large Parlor 3 bedroom/ 1 bath with a backyard. Large bedrooms, huge living room with decorative fireplace and 12 ft ceilings.
The second floor features 2 units; a very large studio in the front, flooded with natural sunlight and a huge 1 bedroom in the back, also with great sunlight. 
The top floor is a floor through 3 bedroom with oversized bedrooms and tons of sunlight.

The building will be delivered vacant so investors can choose and qualify their own tenants. This will yield an 11% return once rented out and has extremely low taxes and carrying costs; great current and long term investment.

The vacant building was thoroughly cleaned and is safe to view via the lockbox code.

Map:
Documents:
Title
2307_Park_Plans.pdf
2307setup.pdf
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Location
Gallery