2 E Mcpherson St,PHILADELPHIA, PA 19119
PHILADELPHIA, PA 19119
Description
This well-maintained and fully occupied approved three-unit multifamily property offers immediate in-place income and an attractive opportunity for investors. The property features a desirable unit mix consisting of one 1-bedroom/1-bath apartment and two 2-bedroom/1-bath apartments. Current rents are $1,325 per month for the 1-bedroom unit and $1,575 and $1,750 per month for the two 2-bedroom units, generating $4,650 in monthly rental income and $55,800 in annual gross income. See available income and expenses in documents. The property has been well maintained, with recent kitchen and bathroom upgrades providing modern finishes while retaining the character of the building. Units offer bright living spaces, hardwood flooring and updated kitchens and baths. The attractive stone and brick exterior further distinguishes the property. Utilities are separately metered and paid by the tenants, with the landlord responsible for water, helping to keep owner operating expenses low. Offered at $600,000, the property generates approximately $41,670 in NOI, representing a 6.95% capitalization rate based upon current operations. With established tenancy, recent interior improvements and approximately a 7% in-place cap rate, 2 E McPherson Street presents an attractive opportunity to acquire a stabilized, income-producing multifamily property with immediate cash flow.
Details
| MLS # | PAPH2661604 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1952 |
| Days On Site | 66 |
| Listing Provided By | EXP Realty, LLC | Philippe Daouphars |
Features
| SQ Feet | 2,000 |
|---|---|
| Basement | Y |
| Units | 3 |
| Zoning | RSA5 |
| Acreage | 0.04 |
Interior
| Cooling | None |
|---|---|
| Heating Yes / No | Yes |
| Heating | Hot Water |
Exterior
| Exterior Features | Sidewalks |
|---|---|
| Construction Materials | Masonry |
| Foundation Details | Block |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 4942 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19119 |
| Area | 19119 (19119) |
| Community Name | MT AIRY |
| School District | THE SCHOOL DISTRICT OF PHILADELP |
| Elementary School | ABRAM JENKS |
| High School | MARTIN LUTHER KING |
| Listing VS Median (in MT AIRY) | |
Price: $570,000 low | high Med: $192,500 sqft: 2,000 low | high Med: 1,338 $ / sqft: $285 low | high Med: $146 On site: 66 low | high Med: 31.5 | |
Market Activity 19119
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19119 |
| Area | 19119 (19119) |
| Community Name | MT AIRY |
| School District | THE SCHOOL DISTRICT OF PHILADELP |
| Elementary School | ABRAM JENKS |
| High School | MARTIN LUTHER KING |
| Listing VS Median (in MT AIRY) | |
Price: $570,000 low | high Med: $192,500 sqft: 2,000 low | high Med: 1,338 $ / sqft: $285 low | high Med: $146 On site: 66 low | high Med: 31.5 | |
