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707 N 40TH Street

PHILADELPHIA, PA 19104
  • $1,090,000
  • STATUS: Active
  • ON SITE: 134 Days
  • ID#: PAPH2012426
UPDATED: 67 min ago
$1,090,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2019
County:

School Ratings & Info

Description

OPPORTUNITY knocks! Own a fully occupied 7-unit building in one of Philadelphia's Opportunity Zones. This 2-year young building sits on a 17x105 lot, has 7-8 years left on the tax abatement and brings in around $86,100 in gross annual rent. Unit #1 features a 2 bed, 1 bath unit for $1000/month. Unit #2 features a 1 bed, 1 bath unit for $850/month. Unit #3 features a 2 bed, 1 bath unit for $1100/month. Unit #4 features a 1 bed, 1 bath unit for $900/month. Unit #5 features a 2 bed, 1 bath unit for $1150/month. Unit #6 features a 1 bed, 1 bath unit for $1050/month. Unit #7 features a 2 bed, 1 bath unit for $1125/month. The owners collect additional income from the common area washers and dryers. All of the units have open kitchens with white cabinets, granite countertops and stainless steel appliances, large bathrooms, high ceilings, intercoms, lots of natural sunlight and a gated private entry. There are multiple outdoor spaces including two roof decks with city skyline views and a patio. Extremely low taxes for the next 7 to 8 years! Cap rate of 6.75%. 707 N 40th St is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood.

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©2021 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 LoCoMusings | Century 21 Redwood Realty. 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: 2021-12-03T16:53:55.433.
www.locomusings.com/homes/119538928
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707 N 40TH Street PHILADELPHIA, PA 19104

  • Price: $1,090,000
  • Status: Active
  • On Site: 134 Days
  • Updated: 67 min ago
  • ID#: PAPH2012426
0
Beds
0
Baths
0
½ Baths
0.04
Acres
2019
Built
Neighborhood:
19104 (19104)
County:
Philadelphia
Area:
19104 (19104)
School District:
The School District Of Philadelphia
Property Description
OPPORTUNITY knocks! Own a fully occupied 7-unit building in one of Philadelphia's Opportunity Zones. This 2-year young building sits on a 17x105 lot, has 7-8 years left on the tax abatement and brings in around $86,100 in gross annual rent. Unit #1 features a 2 bed, 1 bath unit for $1000/month. Unit #2 features a 1 bed, 1 bath unit for $850/month. Unit #3 features a 2 bed, 1 bath unit for $1100/month. Unit #4 features a 1 bed, 1 bath unit for $900/month. Unit #5 features a 2 bed, 1 bath unit for $1150/month. Unit #6 features a 1 bed, 1 bath unit for $1050/month. Unit #7 features a 2 bed, 1 bath unit for $1125/month. The owners collect additional income from the common area washers and dryers. All of the units have open kitchens with white cabinets, granite countertops and stainless steel appliances, large bathrooms, high ceilings, intercoms, lots of natural sunlight and a gated private entry. There are multiple outdoor spaces including two roof decks with city skyline views and a patio. Extremely low taxes for the next 7 to 8 years! Cap rate of 6.75%. 707 N 40th St is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood.
Exterior Features

Construction Materials BrickVinyl SidingMetal Siding Garage YN No Parking Types On Street Property Condition Excellent Riparian Rights YN No Roof Fiberglass Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 5850.00 Cooling Ductless/Mini-Split Heating Wall Unit Heating YN Yes Inclusions All Appliances in The UnitsWashers And Dryers in Common Area Net Square Feet 5850.00 Security Features IntercomSecurity Gate

Property Features

Accessibility Features None Annual Gross Expense 6900.00 Assessment Year 2021 Association YN No Business Type Apartment Building Central Air YN No Cooling Fuel Electric Cross Street Fairmount Ave Electric Average Monthly 50 Electric Expense 600.00 Electric Last12 Months 600.00 Gross Income 87600.00 Heating Fuel Electric Hot Water Electric Insurance Expense 4500.00 Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 7 Operating Expense Includes ElectricInsuranceSewerWater Original MLSNumber 800875015612 Ownership Interest Fee Simple Possession Immediate Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 252.00 Tax Assessment Amount 18000.00 Tax Lot 150 Total Actual Rent 86100.00 Vacation Rental YN No Water Source Public Zoning Rm1

Listing courtesy of Compass Pennsylvania, Llc.


©2021 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 LoCoMusings | Century 21 Redwood Realty. 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: 2021-12-03T16:53:55.433.
 
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