Description
INVESTOR ALERT- More PICS Coming Soon - 5 unit CMX2 building already making money with a Lot of Value Add Opportunity. Currently the projected Cap Rate potential is 5.2 percent with lots of potential to easily increase the cap rate and profit margin to a 11 percent Cap Rate. Great location in South Philly on busy Broad St close to a bus stop, subway stop is less than a half block away, and down the street you will find Starbucks, TD Bank, and Jefferson Methodist Hospital. The building consists of a LARGE Commercial Space on the ground floor with a double basement equal to the foot print of the Commercial Unit. Entrance is street level so a lot of options for running your own business or easily renting it out. Recently Updated Fire Alarm System Exit Signs, and Backup Lighting. There are 4 LEGAL 1-bedroom apartments above the commercial space. Three of the units are rented below market value with long term tenants and one vacant unit that needs work. The apartments need updating to maximize income and profit. The location is great--close to Center City and the Stadiums. A great play would be to renovate the apartments and use 2 as long-term rentals and 2 as Short-Term Rentals, like AirBNB, because of the location and zoning. Please inquire about the market cap analysis.+-Priced to sell and truly a Great Value Add on Broad Street.
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0BEDS
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0.03ACRES
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0BATHS
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01/2 BATHS
Description
INVESTOR ALERT- More PICS Coming Soon - 5 unit CMX2 building already making money with a Lot of Value Add Opportunity. Currently the projected Cap Rate potential is 5.2 percent with lots of potential to easily increase the cap rate and profit margin to a 11 percent Cap Rate. Great location in South Philly on busy Broad St close to a bus stop, subway stop is less than a half block away, and down the street you will find Starbucks, TD Bank, and Jefferson Methodist Hospital. The building consists of a LARGE Commercial Space on the ground floor with a double basement equal to the foot print of the Commercial Unit. Entrance is street level so a lot of options for running your own business or easily renting it out. Recently Updated Fire Alarm System Exit Signs, and Backup Lighting. There are 4 LEGAL 1-bedroom apartments above the commercial space. Three of the units are rented below market value with long term tenants and one vacant unit that needs work. The apartments need updating to maximize income and profit. The location is great--close to Center City and the Stadiums. A great play would be to renovate the apartments and use 2 as long-term rentals and 2 as Short-Term Rentals, like AirBNB, because of the location and zoning. Please inquire about the market cap analysis.+-Priced to sell and truly a Great Value Add on Broad Street.
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