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. 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. 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. 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.
Location
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 2nd June, 2023 4:13 AM (UTC)