Property Description

Modern corner legal duplex in South Philly available for sale! This building consists of two one-bedroom units and a garage. The first floor unit consists of one bedroom and one full bathroom, with new white Shaker-style kitchen and bath, tile floors and ground floor entrance. The tenant recently moved out and this unit has been renovated and left vacant for the sale, but projected rent is $1250. On the second floor, you'll find a bright and sunny second floor one-bedroom apartment with central A/C. This large modern apartment features lots of windows and natural light and has its own separate entrance from the side of the building. Head up the stairs into the open floor plan living/dining/kitchen area, with hardwood floors, ceramic tile, and iron railings. The modern kitchen has wood cabinets, range, microwave and fridge. Off the kitchen is an outdoor patio area above the garage below. Beyond the living room is a very large bedroom and a full bathroom is located just off of the living area. This unit has been rented for several years at $1125 to a long-term tenant without any increases in rent, but market rent is around $1400. Additionally, there is a 1-car garage with is rented on a month-to-month basis at $300/month. There is a shared laundry room on the first level for use of both tenants. Utilities are separate. Fantastic building in great condition, close to major highways and shopping centers. This would be a solid investment in a easy-to-rent area- using current rental rates it is almost an 8% cap rate, but using market rents and current expenses, its a 10.48% cap! This would also be perfect for an owner occupant or first-time homeowner- live in one unit and have the other unit and garage help pay your mortgage!!

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