Property Description

Triplex Investment Opportunity in Cedar Park! This three unit Victorian is in a desireable location for people looking to live or invest in West Philly. The appeal is a walkable, bikeable community with lots of access to public transportation, Regional Rail, bus and trolley lines, and a block from the vibrant Baltimore Avenue corridor and in walking distance to local campuses. The energy and vibe of the community is why the units stay leased year after year with very little vacancy. The property consists of two 2 Bedroom, 1 Bath units on the first and second floor, and a three bedroom unit with large attic on the third floor. Tenants enjoy a large backyard and the beauty and authenticity of hardwood flooring and Victorian finishes. The property has been professionally managed during the current owners tenure. Rents are market rate generating approximately $5000 per month, $60,000 per year in gross rents. The building heat and water and a monthly fee is charged to each tenant as a fee. Combining the three units the total monthly fee is $175 per month for gas, and $175 per month for water, is collected by the Landlord. There is plenty of on street parking as well as a free parking lot across the street next to the community gardens. This is a legally a licensed triplex with a fire escape installed as well as a central monitoring station. Surrounded by great restaurants and coffee shops like, Dahlak, Vietnam cafe, Doro Bet, Alif Brew, Milk Crate and Green Line , and a 1/2 block from public transportation that runs directly through UPenn, Drexel, CHOP. Clark Park and Cedar Park are also only a few blocks a way. A great opportunity!

Property Features

Local Schools