Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
The Philly Home Advisors team is pleased to present this extremely rare opportunity to acquire the majority of both sides of an entire city block. This family-owned portfolio has taken over 45 years of acquisition to amass and has been meticulously maintained to this day. Included in the sale of this portfolio are 14 single-family homes, two 5-unit apartment buildings, a 6500 +/- sq ft lot, 6 bay small rental garage spaces, and a 30,000 +/- sq ft warehouse. This portfolio is located in a cul-de-sac on the 1900 block of E Stella St, which drives up and ends at an elementary school. This portfolio has endless opportunities for future value and current rental increases with minimal investment. All residential units are fully occupied with all tenants paying on time grossing $317,400 annually in rent. Both five-unit buildings are yielding below-market rents and can be turned over with no capital investment to raise rents by at least 20%. The warehouse lot and garage spaces are currently owner-occupied and will be sold vacant. Per market comps, the warehouse should yield at least between $8.15-$9 per sq ft annually. Once fully occupied, this portfolio should yield around a 10% cap rate and with easy management since all properties are on one block. Close to local highways and mass development, this portfolio would be perfect for any investor, developer, or owner-occupant looking for industrial space. Contact us to schedule a tour of this unique and rare investment opportunity.
|10 hours ago||Listing updated with changes from the MLS|
|7 days ago||Listing first seen online|