Description
Seven unit apartment building built circa 1900. 3 story frame twin in the Queen Annestyle, listed on the National Register Historic District as a contributing property. Theproperty was converted into 7 apartments, providing approximately 7,100 sq. ft. of livingspace, and consisting of 4- 2BR, LR, 1BA units, 2- 1BR, LR, 1BA units, 1 unit has 1BR,LR, DR, 1BA and enclosed porch. Rents for the 2 BR units are slightly below market,rents for the 1 BR units have potential for 10% + rent increases. The current rent role is$6,985 per month. There is a coin operated laundry in the basement generates an additional $100+ permonth. With some renovation the 1 BR with LR & DR has 20% more rent potential.One gas fired boiler serves entire building, the A-frame roof was replaced in 2019. Theentire property exterior was re-painted in 2021 and the driveway and parking lot was re-paved in 2021. There is a two car garage plus parking for five vehicles in the parkingarea. Convenient location close to train and shopping. Lansdowne is 15 minutes to Center City by train. Gross Annual Rent is $83,820. Annual Expenses: Utilities 9,458; Maintenace 2,492; Insurance 4,053; Taxes 20,376 (includes Trash & Sewer). NOI is $47,441.
-
0BEDS
-
0.21ACRES
-
0BATHS
-
01/2 BATHS
Description
Seven unit apartment building built circa 1900. 3 story frame twin in the Queen Annestyle, listed on the National Register Historic District as a contributing property. Theproperty was converted into 7 apartments, providing approximately 7,100 sq. ft. of livingspace, and consisting of 4- 2BR, LR, 1BA units, 2- 1BR, LR, 1BA units, 1 unit has 1BR,LR, DR, 1BA and enclosed porch. Rents for the 2 BR units are slightly below market,rents for the 1 BR units have potential for 10% + rent increases. The current rent role is$6,985 per month. There is a coin operated laundry in the basement generates an additional $100+ permonth. With some renovation the 1 BR with LR & DR has 20% more rent potential.One gas fired boiler serves entire building, the A-frame roof was replaced in 2019. Theentire property exterior was re-painted in 2021 and the driveway and parking lot was re-paved in 2021. There is a two car garage plus parking for five vehicles in the parkingarea. Convenient location close to train and shopping. Lansdowne is 15 minutes to Center City by train. Gross Annual Rent is $83,820. Annual Expenses: Utilities 9,458; Maintenace 2,492; Insurance 4,053; Taxes 20,376 (includes Trash & Sewer). NOI is $47,441.
©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Newman Real Estate Group | Keller Williams Flagship of Maryland. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-15T11:02:49.517.