Bought with Robert Firth • Compass
$300,000
$300,000
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2104 ORTHODOX ST Philadelphia, PA 19124
2,080 SqFt
Key Details
Sold Price $300,000
Property Type Multi-Family
Sub Type End of Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 2,080 sqft
Price per Sqft $144
MLS Listing ID PAPH2103234
Sold Date 05/13/22
Style Straight Thru
Abv Grd Liv Area 2,080
Year Built 1940
Annual Tax Amount $2,971
Tax Year 2022
Lot Size 1,660 Sqft
Acres 0.04
Lot Dimensions 19.00 x 88.00
Property Sub-Type End of Row/Townhouse
Source BRIGHT
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
Location
State PA
County Philadelphia
Area 19124 (19124)
Zoning RM1
Rooms
Basement Full, Front Entrance, Interior Access, Outside Entrance, Poured Concrete, Space For Rooms, Unfinished, Windows, Walkout Stairs, Rough Bath Plumb, Drain
Interior
Interior Features 2nd Kitchen, Combination Dining/Living, Combination Kitchen/Dining, Combination Kitchen/Living, Entry Level Bedroom, Floor Plan - Open, Floor Plan - Traditional, Kitchenette, Recessed Lighting, Studio, Upgraded Countertops, Wood Floors
Hot Water Electric, Multi-tank
Heating Baseboard - Electric, Forced Air, Wall Unit
Cooling Window Unit(s)
Flooring Hardwood, Engineered Wood, Luxury Vinyl Plank, Tile/Brick, Vinyl, Wood, Solid Hardwood
Equipment Built-In Microwave, Built-In Range, Cooktop, Dryer, Dryer - Electric, Dryer - Front Loading, Energy Efficient Appliances, Freezer, Microwave, Oven - Single, Oven/Range - Electric, Range Hood, Stainless Steel Appliances, Stove, Washer, Washer - Front Loading, Washer/Dryer Stacked, Water Heater
Appliance Built-In Microwave, Built-In Range, Cooktop, Dryer, Dryer - Electric, Dryer - Front Loading, Energy Efficient Appliances, Freezer, Microwave, Oven - Single, Oven/Range - Electric, Range Hood, Stainless Steel Appliances, Stove, Washer, Washer - Front Loading, Washer/Dryer Stacked, Water Heater
Heat Source Electric
Exterior
Water Access N
Roof Type Built-Up
Accessibility Accessible Switches/Outlets
Garage N
Building
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Straight Thru
Additional Building Above Grade
Structure Type Dry Wall,9'+ Ceilings
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 232095300
Ownership Fee Simple
SqFt Source Assessor
Security Features Carbon Monoxide Detector(s),Fire Detection System,Smoke Detector
Acceptable Financing Cash, Conventional, FHA, Negotiable, VA
Listing Terms Cash, Conventional, FHA, Negotiable, VA
Financing Cash,Conventional,FHA,Negotiable,VA
Special Listing Condition Standard
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