MLS#PAPH2655766
STATUSACTIVE
PROPERTY TYPECommercial -
SUBDIVISIONOVERBROOK
SCHOOLPHILADELPHIA CITY
Property Description
Classic Value-Add Mixed-Use Investment Opportunity with Seller Financing Excellent opportunity to acquire a well-maintained mixed-use investment property situated along Haverford Avenue in Philadelphia’s Overbrook section. The property consists of eight one-bedroom apartments, a first-floor and a basement-level childcare center that has operated at the property for approximately 30 years. The property is currently operating at a reported cap rate of approximately 9.0%, providing strong existing income with substantial value-add potential. Residential rents are presently in the range of approximately $650 per month and may be below prevailing market rents for comparable one-bedroom apartments in the area. With modest upgrades and professional management, a new owner may have the opportunity to increase rents over time toward the estimated $950 to $1,050 range, subject to renovations and upgrades. All residential tenants are currently on month-to-month arrangements, providing a purchaser with flexibility to implement a renovation, leasing, and rent-adjustment strategy. The property is in good, functional condition and offers immediate income together with the potential for meaningful growth in net operating income and property value. Attractive seller financing is available. The seller is willing to finance $1,000,000 of the purchase price at 8% interest, amortized over 20 years, with the remaining principal balance due in five years. An appealing opportunity for an investor seeking a high-yielding mixed-use asset with seller financing and significant value-add upside in an established Philadelphia neighborhood. See attached setup.
Property Features
Property Type: Commercial -
Cooling: Central A/C
Fuel Type: Natural Gas
Heating: Hot Water
Lot Size: 0.30 Acres
Roof Type: Unknown
Taxes: $11,847
Year Built: 1962
Feature Descriptions
Exterior: Masonry
Flooring: Concrete, Hardwood
Lot Dimensions: 0.30 Acre(S)
Municipality: PHILADELPHIA
Sewer: Public Sewer
Total Garage/Parking Spaces: 5
Units: 9
Water: Public
Local Schools
High School: OVERBROOK
School District: PHILADELPHIA CITY
Listed By / Shown By
Listed By
Agency Name: The Bentley Group-PA Ltd
Agency Phone: 6463614522
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
6634 42 Haverford Avenue | MLS# PAPH2655766
This commercial property located at 6634 42 Haverford Avenue , Philadelphia, PA 19151 is currently listed for sale with an asking price of $1,500,000. 42 Haverford Avenue is located within the PHILADELPHIA CITY school district. Search Philadelphia real estate on www.realtymark.net today.