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1724 MONUMENT ST Philadelphia, PA 19121
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Key Details
Sold Price $650,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $260
MLS Listing ID PAPH2413026
Sold Date 12/02/24
Style Unit/Flat
Abv Grd Liv Area 2,500
Originating Board BRIGHT
Year Built 2016
Annual Tax Amount $931
Tax Year 2020
Lot Size 1,035 Sqft
Acres 0.02
Property Description
If you are an investor looking for a safe, turnkey student rental property that has never been empty even during COVID, is low maintenance, and is rented out till July 25, 2025 (potentially 2026) this is the property for you! $57,418 NOI, 8.83% CAP. This 2016 new construction duplex has a rare 8 bed | 8 bath set up so it is always in demand with Temple students. It is located on the popular and in demand 17th block of Monument Street, only a 7-minute walk to the main campus, one of the key reasons why this property is easy to rent out. The units have modern appliances, private washers and dryers, central AC & heating, intercoms and they are well-maintained by the tenants. All the bedrooms can fit queen-sized beds, desks, and dressers and have well-sized closets which is exactly what every tenant needs. Both units get a lot of natural light and are around 1250 sq ft each. Unit 1 has access to a large backyard and unit 2 is a bit bigger than unit 1. Here is a full financial breakdown with income and estimated expenses -
Income: $62,400, common area electricity: $432. Water - $1044. Taxes - $1,458 (2 years left on tax abatement). Trash -$500. Rental license - $120. Insurance - $1,428. Offered at $650,000, this property is priced at 8.83% CAP which is great for a newer construction building, and at $650/room, it has the potential to grow up to $675-$700 with some cosmetic upgrades! Property management and leasing are on standby if the buyer elects to hire assistance with the property. Call us with any questions and schedule your tour today!
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Equipment Dishwasher, Washer, Dryer, Intercom
Appliance Dishwasher, Washer, Dryer, Intercom
Heat Source Electric
Exterior
Exterior Feature Patio(s)
Water Access N
Accessibility None
Porch Patio(s)
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Unit/Flat
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 321137400
Ownership Fee Simple
SqFt Source Estimated
Security Features Intercom
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with John Flanagan • EXP Realty, LLC