UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Overbrook
MLS Listing ID PAPH2655766
Year Built 1962
Annual Tax Amount $11,847
Tax Year 2026
Lot Size 0.301 Acres
Acres 0.3
Lot Dimensions 78.00 x 168.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Excellent 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.
Location
State PA
County Philadelphia
Area 19151 (19151)
Zoning RSA3
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Central A/C
Flooring Concrete, Hardwood
Heat Source Natural Gas
Exterior
Garage Spaces 5.0
Water Access N
Roof Type Unknown
Accessibility None
Total Parking Spaces 5
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
High Schools Overbrook
School District Philadelphia City
Others
Tax ID 881128512
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA 203(k), Seller Financing
Listing Terms Cash, Conventional, FHA 203(k), Seller Financing
Financing Cash,Conventional,FHA 203(k),Seller Financing
Special Listing Condition Standard
Nearby School & Business
Get More Information