4059-4061 Powelton Ave

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.