Active
811/819/1182 S 11th St
Philadelphia PA, 19147
$2,325,000
$304.84 per sqft
Active
7,627 sqft
Commercial
Built in 1915
Invest in your future with 1, 2, or 3 of these fully occupied, cash-flowing triplexes in the popular Bella Vista/Italian Market neighborhood of Center City. The owners are ready to retire and pass on their success to you. With a 99% occupancy rate spanning 3 to 17 years, make your first investment an "easy win," or add another solid multi-family building to your portfolio. Either way- it's a win. The tenants are happy, love the location, and are paying near or at-market rents, so you don't have to worry about making dramatic changes after you buy. Plus, there's potential to increase your earnings by renting out additional storage in 2 of the 3 basements to the tenants or someone local who needs extra storage space (or use it for yourself!). You can also do some modest upgrades when units turnover and increase the rents year after year. Each tenant in each unit pays for their gas and electric (separate utilities & mechanicals- yea!). The landlord only pays for water for the 3 buildings and common electric in 2 of the 3 buildings. All units have the required sprinkler systems, RM1 Zoning, active rental licenses, and Lead-Free (811) or Lead-Safe (819 & 1182) Certificates from the city. Details about the individual buildings: 811 S 11th: Gross rent is $5550/mo over three 2 bed/1 bath flats. Each unit has C/A, private outdoor space, and a storage cage in the back portion of the basement. Units 1 & 3 have in-unit laundry. Unit 2 uses the laundry in the basement. The front part of the basement is available and easily used for additional storage for you or someone else. 819 S 11th: Gross rent is $4500/mo for two 2-bed/1-bath flats and one 1-bed/1-bath flat. The first floor has outdoor space and access to an extra basement room that is finished, plus exclusive access to the unfinished portion of the basement. Bilco access to the basement is temporarily closed shut but could be accessed if needed down the road. Each unit has in-unit laundry. Tenants use window units for cooling. 1182 S 11th: Gross rent is $5700/mo for two 2-bed/2 bath flats and one 1-bed/1bath flat. The third floor has a private roof deck, and all units have central air and in-unit laundry. The basement is available for your use or an opportunity to add value by providing additional storage for the tenants. The opportunity here is perfect- cash flow right out of the gate, and plan to make strategic value-adds along the way to increase your profit!
PAPH2419606
MLSⓇ ID
November 19, 2024
Listed
November 22, 2024
Updated
Map
811/819/1182 S 11th St
Philadelphia PA, 19147
Interior Features
Interior Features
Carpet, Ceramic Tile, Wood
Appliances
Electric Water Heater
Floor Description
Carpet, Ceramic Tile, Wood
Fireplace
No
Cooling
Yes
Cooling Description
Central Air, Window Unit(s)
Heating
Yes
Heating Description
Forced Air, Baseboard, Hot Water, Electric, Natural Gas
Exterior/Building Features
Lot Size
0.03 Acres
Sewer
Public Sewer
Other Property Details
Area Name
PHILADELPHIA
Taxes
$22,702
Tax Frequency
Annually
Days on Market
1
Garage
No
Parking
On Street
View
No
County
PHILADELPHIA
Water Source
Public
Pool
No
Listed by KW Empower
Listing Contact: 2154315431
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Data last updated on 11/22/2024 at 1:59 AM UTC