922 South 49th Street
922 South 49th Street
$925,000
11
5
4,500
4,500
$206
New Construction
Description
Presenting 922 S 49th, a totally renovated income-producing 4,500 SF quadplex (4 units) ideally located in University City Philadelphia, the region's leading employment hub which drives Philly's prominent "eds and meds" high-skilled/paid workforce. 3 rented - 1 vacant - Ideal for an owner-occupier looking to leverage personal financing. The three rented Units are leased significantly under market due to timing with Covid, offering the new owner/operator immediate increased yield in Year 1+. Pro forma...Presenting 922 S 49th, a totally renovated income-producing 4,500 SF quadplex (4 units) ideally located in University City Philadelphia, the region's leading employment hub which drives Philly's prominent "eds and meds" high-skilled/paid workforce. 3 rented - 1 vacant - Ideal for an owner-occupier looking to leverage personal financing. The three rented Units are leased significantly under market due to timing with Covid, offering the new owner/operator immediate increased yield in Year 1+. Pro forma cap rate is 8%+ with market rents compared. The unit mixed includes 2 (two bedrooms), 1 (three -bedroom), and 1 (four-bedroom) which perfect for grad students and professionals. A tenancy mixture (grad students and professionals) is common at the property with previous tenants including Adjunct Professors and Penn Law Students. Features include modern kitchens and bathrooms, hardwood floors, bay windows and high ceilings, spacious rear yard, charming front porch, in-unit washer/dryers, lower level common storage. The University of Pennsylvania, Drexel University, the University of the Sciences and the Restaurant School at Walnut Hill College all share turf here, in the city's bustling, culturally diverse academic heart. Cutting-edge exhibitions at the Institute of Contemporary Art attract hip crowds. Budget-friendly dining options include street food stalls and international eateries, and there are plenty of casual bars. Tax abatement has been approved to reduce taxes, further reducing expenses and increasing the future yield. All utilities are paid by tenants will very low operating costs for owners. All units have central air. All power to the building is electric, there is no gas utility. Fire Sprinkler is active further reducing insurance costs. owner is a licensed reatlor
- Listed by Ben Finelli • RE/MAX ReadyP: 6108286300 benjamin.finelli@gmail.com
Property Details for 922 South 49th Street
Tax ID Number
511003805
OwnershipFee Simple
Structure TypeInterior Row/Townhouse
StyleOther
WaterfrontNo
GarageNo
MunicipalityPHILADELPHIA
Central AirYes
Location
LISTING UPDATED: 03/04/2024 11:57 AM
Property Details for 922 South 49th Street
Status | Active |
---|---|
MLS # | PAPH2314500 |
Days on Market | 98 |
Taxes | $6,946 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | 1917 |
Lot Size | 0.06 AC / 2,420 SF |
County | Philadelphia County |
Building
Location
Building Information for 922 South 49th Street
Stories3Residences-Year Built1917Building Size-Lot Size0.06 AC / 2,420 SF
Payment Calculator
$5,627 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 922 South 49th Street
Property History for 922 South 49th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 922 South 49th Street
Taxable ValueLand-Additions-Total-
Tax Record2023$6,946 ($579 / month)
Home Facts
Total Finished SqFt1,356 SqFtAbove Grade Finished SqFt1,356 SqFtStories3Lot Size2,420 SqFtStyleMulti-Family Res (5+ Units)Year Built1900ZoningRSA3CountyPHILADELPHIAAPN51-1-0038-05
Schools near 922 South 49th Street
This home is within Philadelphia City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Harrington Avery D School PublicK to 8 | ||
Sayre William L Middle School Public9 to 12 | ||
The Workshop School Public9 to 12 | ||
Paul Robeson High School For Human Services Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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