6634-42 Haverford Ave,PHILADELPHIA, PA 19151
PHILADELPHIA, PA 19151
Description
Classic Value-Add Mixed-Use Investment Opportunity with Seller FinancingExcellent 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.
Details
| MLS # | PAPH2655766 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1962 |
| Days On Site | 85 |
| Listing Provided By | The Bentley Group-PA Ltd | Hassan Abdellah |
Features
| Story(s) | 2 |
|---|---|
| Units | 9 |
| Zoning | RSA3 |
| Acreage | 0.30 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Hot Water |
Exterior
| Roof | Unknown |
|---|---|
| Construction Materials | Masonry |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 11847 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19151 |
| Area | 19151 (19151) |
| Community Name | OVERBROOK |
| School District | PHILADELPHIA CITY |
| High School | OVERBROOK |
| Listing VS Median (in OVERBROOK) | |
Price: $1,500,000 low | high Med: $225,000 On site: 85 low | high Med: 69 | |
Market Activity 19151
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19151 |
| Area | 19151 (19151) |
| Community Name | OVERBROOK |
| School District | PHILADELPHIA CITY |
| High School | OVERBROOK |
| Listing VS Median (in OVERBROOK) | |
Price: $1,500,000 low | high Med: $225,000 On site: 85 low | high Med: 69 | |