422 N 40TH ST, PHILADELPHIA, PA 19104 (MLS # 1002491900)

Price $6,000,000
Status Active
Beds 0
Baths 0 bath
Home size n/a
Lot Size 1,742 sqft
PACKAGE SALE 18 upscale units throughout 5 buildings sharing a courtyard, 46 bedrooms. Located in West Powelton / Powelton Village. Fully leased, no vacancy, no delinquency. Newly built in 2015. 10 year tax abatement (7 remaining)! Low expenses! Tenants pay own electric, heating, and cooling. All units have a washer/dryer. Easy to manage and lease. Minutes to PENN, Drexel, CHOP, PENN Hospitals. There are 18 yearly leases, 1 lease per apartment. Professionally managed, great reviews. Owners do not rent rooms, thus easy to manage. Located steps from subway, trolley, and bus stop. Easy access to 30th Street Station and all nearby universities. Police station around the corner. Located within the University City District Patrol area. Property offers courtyard access and roofdeck access to most units. Tremendous opportunity for long-term hold. Cash flow from day 1! Disclosure: Some information in Trend may not be accurate due to limited ability to list over 9 units, etc. Addresses included are 422 N 40th (4 units), 426A N 40th (4 units), 426B N 40th (4 units), 443 Wiota (3 units), and 439 Wiota (3 units). Disclosure: Broker has financial interest.
Property Type(s): Multi Family
Last Updated 10/24/2018 Tract POWELTON VILLAGE
Year Built 2015 County PHILADELPHIA

SCHOOLS

School District THE SCHOOL DISTRICT OF PHILADELPHIA

Price History

Prior to Sep 17, '18 $7,800,000
Sep 17, '18 - Oct 24, '18 $6,500,000
Oct 24, '18 - Today $6,000,000

Additional Details

AIR Central A/C
AIR CONDITIONING Yes
BASEMENT Partial, Yes
CONSTRUCTION Brick, Vinyl Siding
GARAGE Street
HEAT Heat Pump - Electric BackUp
HOA DUES None
LOT 1742 sq ft
LOT DIMENSIONS 20X90
SEWER Public Sewer
STYLE Other
SUBDIVISION POWELTON VILLAGE
TAXES 1081.0
WATER Public
ZONING RM1

Location

 

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Data last updated: 11/20/18 5:54 AM PST.

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