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Listed by Yoseph Mahdi • Keller Williams Realty Devon-Wayne
$ 850,000
Est. payment | /mo
1,708 Sqft Lot
$ 850,000
Est. payment | /mo
1,708 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2682600
Year Built 2014
Annual Tax Amount $11,898
Tax Year 2027
Lot Size 1,708 Sqft
Acres 0.04
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
GREAT INVESTMENT OPPORTUNITY WITH RENTAL UPSIDE! Introducing 1817 Cecil B. Moore Ave., a modern five-unit multifamily building in Philadelphia, offered at $850,000 with a CURRENT CAP RATE OF 8.28%. Currently generating $7,966 in monthly rental income, totaling $95,592 annually, this property combines established rental income with the potential to increase rents upon future re-leasing. THE UNITS ARE CURRENTLY RENTED BELOW MARKET VALUE, according to ownership, presenting an opportunity to improve rental performance as existing leases expire.
FIVE APARTMENTS WITH 17 BEDROOMS AND NINE FULL BATHROOMS! The building includes one TWO-BEDROOM, ONE-BATHROOM apartment, one THREE-BEDROOM, TWO-BATHROOM apartment, and THREE FOUR-BEDROOM, TWO-BATHROOM apartments. This varied unit mix offers a range of apartment sizes and substantial bedroom capacity within a single investment property.
The residences feature modern interiors and practical amenities designed for everyday convenience. EVERY APARTMENT FEATURES ITS OWN IN-UNIT WASHER AND DRYER, individual water heater, and dedicated HVAC system providing CENTRAL HEAT AND CENTRAL AIR CONDITIONING. These appliances and systems operate on electricity. Individual heating and cooling systems allow residents to control their own apartment's temperature, while private laundry eliminates the need for shared laundry facilities.
FULLY KEYLESS ACCESS! Coded keypad locks at the main building entrance and each apartment provide convenient entry without physical keys. Security cameras offer additional monitoring of the property, complementing its modern access features.
POTENTIAL TO INCREASE RENTAL INCOME! Based on ownership's estimated average rent of $600 per bedroom across 17 bedrooms, total monthly rental income could reach approximately $10,200, equivalent to $122,400 annually. This represents a potential increase of $2,234 per month, or $26,808 annually, over current rental income. These estimates reflect potential apartment rents calculated using an average per-bedroom amount. Projected rents are subject to market conditions, existing lease terms, and independent verification and are not guaranteed.
With five apartments, modern amenities, individual apartment systems, an advertised 8.28% cap rate, and potential rental upside, 1817 Cecil B. Moore Ave. presents a compelling opportunity for investors seeking to establish or expand a Philadelphia multifamily portfolio.
AT LEAST 24 HOURS' ADVANCE NOTICE IS REQUIRED FOR ALL SHOWINGS. Please coordinate appointments in advance to accommodate residents.
All information, including unit configuration, bedroom and bathroom counts, occupancy, lease terms, current and projected rental income, market rent estimates, expenses, cap rate, construction details, utilities, and property features, must be independently verified by the buyer and buyer's representatives.
One listing agent is related to the owner.
FIVE APARTMENTS WITH 17 BEDROOMS AND NINE FULL BATHROOMS! The building includes one TWO-BEDROOM, ONE-BATHROOM apartment, one THREE-BEDROOM, TWO-BATHROOM apartment, and THREE FOUR-BEDROOM, TWO-BATHROOM apartments. This varied unit mix offers a range of apartment sizes and substantial bedroom capacity within a single investment property.
The residences feature modern interiors and practical amenities designed for everyday convenience. EVERY APARTMENT FEATURES ITS OWN IN-UNIT WASHER AND DRYER, individual water heater, and dedicated HVAC system providing CENTRAL HEAT AND CENTRAL AIR CONDITIONING. These appliances and systems operate on electricity. Individual heating and cooling systems allow residents to control their own apartment's temperature, while private laundry eliminates the need for shared laundry facilities.
FULLY KEYLESS ACCESS! Coded keypad locks at the main building entrance and each apartment provide convenient entry without physical keys. Security cameras offer additional monitoring of the property, complementing its modern access features.
POTENTIAL TO INCREASE RENTAL INCOME! Based on ownership's estimated average rent of $600 per bedroom across 17 bedrooms, total monthly rental income could reach approximately $10,200, equivalent to $122,400 annually. This represents a potential increase of $2,234 per month, or $26,808 annually, over current rental income. These estimates reflect potential apartment rents calculated using an average per-bedroom amount. Projected rents are subject to market conditions, existing lease terms, and independent verification and are not guaranteed.
With five apartments, modern amenities, individual apartment systems, an advertised 8.28% cap rate, and potential rental upside, 1817 Cecil B. Moore Ave. presents a compelling opportunity for investors seeking to establish or expand a Philadelphia multifamily portfolio.
AT LEAST 24 HOURS' ADVANCE NOTICE IS REQUIRED FOR ALL SHOWINGS. Please coordinate appointments in advance to accommodate residents.
All information, including unit configuration, bedroom and bathroom counts, occupancy, lease terms, current and projected rental income, market rent estimates, expenses, cap rate, construction details, utilities, and property features, must be independently verified by the buyer and buyer's representatives.
One listing agent is related to the owner.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning CMX2
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 12.0
Water Access N
Accessibility None
Total Parking Spaces 12
Garage N
Building
Sewer Private Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881147833
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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