4059-4061 Powelton Ave

4059-61 Powelton Ave Philadelphia, PA 19104

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,135,000
Last Verified:
Oct 29, 2020

Highlights

  • Fully Occupied 8 Unit Multifamily in University City
  • Under Market Rents - NOI upside potential $14,000/year
  • Fully Approved to Build Four (4) 2 bedroom/1 bath Units on Property
  • Property Location is walker's paradise with access to major retail
  • 40th St Station (Market-Frankford Line) only 2 blocks away
  • 100% Occupied with mix of students and professionals

Description

KW Commercial is pleased to present this beautiful and well maintained 8 Unit Multifamily Investment Property in the University City/Powelton Village neighborhood of Philadelphia. The property is 100% occupied with a mix of students and professionals. The unit mix consists of four (4) 2 bedroom/1 bath, two (2) 1 bedroom/1 bath, and two (2) Studio units. There is upside by increasing current rents to market rent (up to $14,000/year). Offering even more immediate upside is the Fully Approved "By-Right" addition of four (4) 2 bedroom/1 bath units to be constructed onto the rear of the building adding approximately another 4,000 SF.

Located in the University City and Powelton Village area of West Philadelphia. One of Philadelphia’s most beautiful best-kept secrets, lovely, leafy Powelton Village is characterized by its unmistakable mix of stately houses and quirky, colorful businesses. The property is located in a great walkable area only blocks from Aldi, Rite Aid, Dunkin Donuts. The property is only a few blocks away from 40th St Train Station which provides access east/west via the Market/Frankford line. Only blocks away is Penn Presbyterian Hospital.

Building Size: 5905.0sq ft
Lot Size: 0.0 acres

Map of 4059-61 Powelton Ave, Philadelphia, PA, 19104

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.