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922 S 49TH Street

PHILADELPHIA, PA 19143
  • $990,000
  • STATUS: Active
  • ON SITE: 36 Days
  • ID#: PAPH2314500
UPDATED: 86 min ago
$990,000
  • 0
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,500
    SQFT
  • $220
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1900
County:

School Ratings & Info

Description

Presenting 922 S 49th, a totally renovated income-producing 4,500 SF quadplex (4 units) ideally located in University City Philadelphia, the region's leading employment hub which drives Philly's prominent "eds and meds" high-skilled/paid workforce. 3 rented - 1 vacant - Ideal for an owner-occupier looking to leverage personal financing. The three rented Units are leased significantly under market due to timing with Covid, offering the new owner/operator immediate increased yield in Year 1+. Pro forma cap rate is 8%+ with market rents compared. The unit mixed includes 2 (two bedrooms), 1 (three -bedroom), and 1 (four-bedroom) which perfect for grad students and professionals. A tenancy mixture (grad students and professionals) is common at the property with previous tenants including Adjunct Professors and Penn Law Students. Features include modern kitchens and bathrooms, hardwood floors, bay windows and high ceilings, spacious rear yard, charming front porch, in-unit washer/dryers, lower level common storage. The University of Pennsylvania, Drexel University, the University of the Sciences and the Restaurant School at Walnut Hill College all share turf here, in the city's bustling, culturally diverse academic heart. Cutting-edge exhibitions at the Institute of Contemporary Art attract hip crowds. Budget-friendly dining options include street food stalls and international eateries, and there are plenty of casual bars. Tax abatement has been approved to reduce taxes, further reducing expenses and increasing the future yield. All utilities are paid by tenants will very low operating costs for owners. All units have central air. All power to the building is electric, there is no gas utility. Fire Sprinkler is active further reducing insurance costs.owner is a licensed reatlor

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©2024 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 Asset Property Solutions, LLC. 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: 2024-02-28T16:55:28.55.
www.assetpropertysolutionsllc.com/homes/146811714
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922 S 49TH Street PHILADELPHIA, PA 19143

  • Price: $990,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 86 min ago
  • ID#: PAPH2314500
0
Beds
0
Baths
0
½ Baths
0.06
Acres
4,500
SQFT
$220
$/SQFT
1900
Built
Neighborhood:
19143 (19143)
County:
Philadelphia
Area:
19143 (19143)
School District:
The School District Of Philadelphia
Property Description
Presenting 922 S 49th, a totally renovated income-producing 4,500 SF quadplex (4 units) ideally located in University City Philadelphia, the region's leading employment hub which drives Philly's prominent "eds and meds" high-skilled/paid workforce. 3 rented - 1 vacant - Ideal for an owner-occupier looking to leverage personal financing. The three rented Units are leased significantly under market due to timing with Covid, offering the new owner/operator immediate increased yield in Year 1+. Pro forma cap rate is 8%+ with market rents compared. The unit mixed includes 2 (two bedrooms), 1 (three -bedroom), and 1 (four-bedroom) which perfect for grad students and professionals. A tenancy mixture (grad students and professionals) is common at the property with previous tenants including Adjunct Professors and Penn Law Students. Features include modern kitchens and bathrooms, hardwood floors, bay windows and high ceilings, spacious rear yard, charming front porch, in-unit washer/dryers, lower level common storage. The University of Pennsylvania, Drexel University, the University of the Sciences and the Restaurant School at Walnut Hill College all share turf here, in the city's bustling, culturally diverse academic heart. Cutting-edge exhibitions at the Institute of Contemporary Art attract hip crowds. Budget-friendly dining options include street food stalls and international eateries, and there are plenty of casual bars. Tax abatement has been approved to reduce taxes, further reducing expenses and increasing the future yield. All utilities are paid by tenants will very low operating costs for owners. All units have central air. All power to the building is electric, there is no gas utility. Fire Sprinkler is active further reducing insurance costs.owner is a licensed reatlor
Exterior Features

Architectural Style Other Construction Materials Stone Garage YN No Parking Types On Street Pool No Pool Property Condition Excellent Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 4500 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Central A/C Heating Central Heating YN Yes Single Room Units 0 Three Bedroom Units 2 Two Bedroom Units 2

Property Features

Accessibility Features None Assessment Year 2024 Central Air YN Yes Construction Completed YN Yes Cooling Fuel Natural Gas Foundation Details Block Heating Fuel Central Hot Water Natural Gas Municipality PHILADELPHIA Navigable Water YN N New Construction YN Yes Number Of Units Leased 3 Number Of Units Total 4 Number Of Units Vacant 1 Operating Expense Includes Insurance Original MLSNumber 802826321264 Ownership Interest Fee Simple Possession Immediate120-180 Days Property Sub Type Quadruplex Sale Type Standard Sewer Public Sewer Structure Design Type Interior Row/Townhouse Tax Annual Amount 6946.00 Tax Assessment Amount 496225.00 Tax Lot 81 Vacation Rental YN No Water Source Public Year Built Effective 2019 Zoning RSA3

Listing courtesy of RE/MAX Ready: .


©2024 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 Asset Property Solutions, LLC. 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: 2024-02-28T16:55:28.55.
 
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