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 

The IDX display contains information sourced from the Bright MLS, Inc. as of 11/22/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2024 Bright MLS, Inc. all rights reserved.

Data last updated on 11/22/2024 at 1:59 AM UTC

Powered byLuxury Presence