Property Description

Investment opportunity in the heart of Graduate Hospital. 1523 Christian Street is a six-unit brick apartment building offering an established rental profile in a highly convenient Philadelphia location near 16th Street. Five of the six residential units are currently occupied, with one unit vacant and available for the next owner to lease. The existing occupied units generate approximately $6,545 in monthly rent, with an additional $1,100 projected monthly rent for the vacant unit. Originally built in 1910 and substantially renovated in 2006, the approximately 3,195-square-foot property features a mix of one-, one-and-a-half-, and two-bedroom residences, shared on-site laundry, separately metered gas and electric, and public water and sewer. The property is fee simple with RM1 zoning. Two rear off-street parking spaces are associated with the property; both spaces are currently rented separately and are not presently available. Parking rental arrangements and income will depend upon availability of the spaces. With five units already occupied and one vacancy offering immediate leasing potential, this is an opportunity to acquire an established multifamily asset in the Graduate Hospital neighborhood.

Property Features

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