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2104 Orthodox Street

PHILADELPHIA, PA 19124
  • $300,000
  • STATUS: Active Under Contract
  • ON SITE: 37 Days
  • ID#: PAPH2103234
Under Contract
$300,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,080
    SQFT
  • $144
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1940
County:

School Ratings & Info

Description

UNDER MARKET RENT!! Double Digit Cap Rate Quadplex ************ LOW Operating Expenses ************SEE VIDEO TOURS ON LISTING ************BELOW AVERAGE GRM of 8.85 with a current in-place rent roll of $2825/mo $33,900/year ************Major Rehab on three of four units in 2019 ************All Tenants on Month-Month Leases ************Projected rent at $48,360/year, $4030/month 6.2 GRM AS-IS IN CURRENT CONDITION ************ -If the last unit is updated, we're talking $50,880/year in annual rental income, with a net monthly rental income of $4172/month! ************Put about 8k into that last unit to spruce it up and you're getting over 50k a year for 308k. This is one of the best offerings on the MLS on a Cash on Cash Basis. ************ -Rental Market Analysis Available in Documents ************ -Owner is a Master Electrician who takes pride in all of the hard work he's put into his property. This is his baby. Building is in great condition, he is only selling since he is looking to re-locate to a warmer climate. ************ LOW Monthly Operating Expenses are under $70! ************ -All Utilities are paid by tenants ************ -Avg. Common Area Electric Bill of 17.5 ************ -Owner has two months security from each tennant ************ -Agent can refer new buyer/investor to property management company with a 24/7 hotline for $40/unit or $160/month ************ Info on Major Re-Model of three of the four units-Owner has installed custom Common Area Lighting with Motion sensors, and outdoor photocell lights to keep electric bills low! ************ -Units have been re-wired and owner installed new electric service ************ -All Knob and Tube has been removed, the entire property has brand new Romax throughout ************ -Heating elements and thermostats have all been upgraded ************ -A/C Units have individual power lines going to them, so no calls from your tenants about the circuit breaker flipping ************ -Stucco/Brick exterior will keep this property dry for decades ************ -More Photos/Videos/Info on the way****************** Put in your offer now before this gets scooped up by another investor

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©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 Charis Realty Group. 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: 2022-05-17T23:50:41.957.
www.charisrealtygroup.com/homes/127573701
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2104 Orthodox Street PHILADELPHIA, PA 19124

  • Price: $300,000
  • Status: Active Under Contract
  • On Site: 37 Days
  • ID#: PAPH2103234
0
Beds
0
Baths
0
½ Baths
0.04
Acres
2,080
SQFT
$144
$/SQFT
1940
Built
Neighborhood:
19124 (19124)
County:
Philadelphia
Area:
19124 (19124)
School District:
The School District Of Philadelphia
Property Description
UNDER MARKET RENT!! Double Digit Cap Rate Quadplex ************ LOW Operating Expenses ************SEE VIDEO TOURS ON LISTING ************BELOW AVERAGE GRM of 8.85 with a current in-place rent roll of $2825/mo $33,900/year ************Major Rehab on three of four units in 2019 ************All Tenants on Month-Month Leases ************Projected rent at $48,360/year, $4030/month 6.2 GRM AS-IS IN CURRENT CONDITION ************ -If the last unit is updated, we're talking $50,880/year in annual rental income, with a net monthly rental income of $4172/month! ************Put about 8k into that last unit to spruce it up and you're getting over 50k a year for 308k. This is one of the best offerings on the MLS on a Cash on Cash Basis. ************ -Rental Market Analysis Available in Documents ************ -Owner is a Master Electrician who takes pride in all of the hard work he's put into his property. This is his baby. Building is in great condition, he is only selling since he is looking to re-locate to a warmer climate. ************ LOW Monthly Operating Expenses are under $70! ************ -All Utilities are paid by tenants ************ -Avg. Common Area Electric Bill of 17.5 ************ -Owner has two months security from each tennant ************ -Agent can refer new buyer/investor to property management company with a 24/7 hotline for $40/unit or $160/month ************ Info on Major Re-Model of three of the four units-Owner has installed custom Common Area Lighting with Motion sensors, and outdoor photocell lights to keep electric bills low! ************ -Units have been re-wired and owner installed new electric service ************ -All Knob and Tube has been removed, the entire property has brand new Romax throughout ************ -Heating elements and thermostats have all been upgraded ************ -A/C Units have individual power lines going to them, so no calls from your tenants about the circuit breaker flipping ************ -Stucco/Brick exterior will keep this property dry for decades ************ -More Photos/Videos/Info on the way****************** Put in your offer now before this gets scooped up by another investor
Exterior Features

Architectural Style Straight Thru Construction Materials MasonryStuccoBrick Door Features Six Panel Garage YN No Other Structures Above Grade Parking Types On Street Pool No Pool Property Condition Excellent Riparian Rights YN No Roof Built-Up Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2080 Appliances Built-In MicrowaveBuilt-In RangeCooktopDryerDryer - ElectricDryer - Front LoadingEnergy Efficient AppliancesFreezerMicrowaveOven - SingleOven/Range - ElectricRange HoodStainless Steel AppliancesStoveWasherWasher - Front LoadingWasher/Dryer StackedWater Heater Basement FullFront EntranceInterior AccessOutside EntrancePoured ConcreteSpace For RoomsUnfinishedWindowsWalkout StairsRough Bath PlumbDrain Basement YN Yes Below Grade Unfinished Area 756 Cooling Window Unit(S) Exclusions Owners Tools And Building Materials Fireplaces Total 0 Flooring HardwoodEngineered WoodLuxury Vinyl PlankTile/BrickVinylWoodSolid Hardwood Heating Baseboard - ElectricForced AirWall Unit Heating YN Yes Inclusions AppliancesRental Leases Interior Features 2nd KitchenCombination Dining/LivingCombination Kitchen/DiningCombination Kitchen/LivingEntry Level BedroomFloor Plan - OpenFloor Plan - TraditionalKitchenetteRecessed LightingStudioUpgraded CountertopsWood Floors Rooms Total 13 Security Features Carbon Monoxide Detector(S)Fire Detection SystemSmoke Detector Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 0 Units Furnished Some Walls Ceilings Dry Wall9'+ Ceilings

Property Features

Acceptable Financing CashConventionalFhaNegotiableVa Accessibility Features Accessible Switches/Outlets Assessment Year 2022 Central Air YN No Cooling Fuel Electric Electric 120/240V200+ Amp ServiceCircuit BreakersSingle Phase Electric Average Monthly 15 Electric Last12 Months 180.00 Existing Lease Type Month To Month Foundation Details Slab Green Energy Efficient AppliancesConstruction Green Remarks -Owner Has installed Custom Common Area Lighting With Motion SensorsAnd Outdoor Photocell Lights To Keep Electric Bills LowAvg Common Electric Bill 15-20/Month Gross Income 33900.00 Heating Fuel Electric Hot Water ElectricMulti-Tank Municipality Philadelphia Navigable Water YN N Net Operating Income 33090.00 New Construction YN No Number Of Units Leased 4 Number Of Units Total 4 Number Of Units Vacant 0 Operating Expense 70.00 Operating Expense Includes Trash Original MLSNumber 801469906212 Owner Pays Taxes - Real EstateTrash Collection Ownership Interest Fee Simple Possession 0-30 Days Cd120-180 Days31-60 Days Cd61-90 Days Cd90-120 Days CdImmediateNegotiable Property Sub Type Quadruplex Sale Type Standard Sewer Public Sewer Structure Design Type End Of Row/Townhouse Tax Annual Amount 2971.00 Tax Assessment Amount 212300.00 Tax Lot 158 Total Actual Rent 33900.00 Trash Expense 50.00 Vacation Rental YN No Water Average Monthly 120 Water Last12 Months 1440.00 Water Source Public Year Built Effective 2019 Zoning Rm1 Zoning Description Residential Multi-Family

Listing courtesy of Tesla Realty Group, Llc.


©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 Charis Realty Group. 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: 2022-05-17T23:50:41.957.
 
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