This spacious modern RM-1 property is located right off 62nd and Woodland. Step into a sunroom that leads into an expansive living and dining area, complete with a half bath. The modern eat-in kitchen provides access to a large rear yard, perfect for outdoor activities. The basement is partially finished,… Read More and all mechanical systems are reported to be in good condition. The property sits on a generous 16x75' lot, and the current PHA HCV [SECTION-8] payment standard setting the rental value at $1,788, the cap rate of approximately 14.77% indicates strong potential returns. Even if rents come in lower at $1,500, the cap rate of about 12.41% still reflects a solid investment opportunity. Currently occupied by one tenant, but the tenant is willingly moving out. She has been in place for over 11 years and rents are not reflective of current values. Rent details are provided in the AGENT PRIVATE SECTION in the MLS. Exciting developments are on the horizon for Southwest Philadelphia, promising significant appreciation in local real estate. The property is just minutes from the $250 million PHA redevelopment at Bartram Village. It's an 8-minute bike ride to the river for kayaking and fishing at Bartram's Gardens, a 50-acre public garden and National Historic Landmark along the Tidal Schuylkill River. Additionally, it's a short 12-minute bike ride to the new Saint Joseph's University campus, established through a merger with the University of the Sciences in 2022. The property is also near the newly branded ''Africatown,'' which will see a $23 million mixed-use project featuring a retrofitted commercial space, new construction, and a full-service restaurant and retail shops. Read Less
Courtesy of Angela Floyd, BAE Realty and Investment Services [email protected]
Listing Snapshot
Days Online
2
Last Updated
Property Type
Townhouse
Beds
3
Full Baths
1
Partial Baths
1
Square Ft.
1,128
Lot Size
0.03 Acres
Year Built
1920
MLS Number
PAPH2399020
30 Days Snapshot Of 19142
$
+6%
(avg) sold price
18
+80%
homes sold
77
+71%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Full, Partially Finished
Building
1,128 sqft living area, 1,128 sqft above grade (finished), Built in 1920, Structure Type: Interior Row/Townhouse, 2 levels, Straight Thru, Masonry
Cooling
None, None
Foundation
Stone
Heating
Natural Gas, Hot Water
Lot
1,200 sqft, Lot Size Dimensions: 16.00 x 75.00, 0.03 acres, Front Yard, Rear Yard
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