$525,000
$499,999
5.0%For more information regarding the value of a property, please contact us for a free consultation.
3,426 SqFt
SOLD DATE : 05/09/2024
Key Details
Sold Price $525,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 3,426 sqft
Price per Sqft $153
MLS Listing ID PAPH2322684
Sold Date 05/09/24
Style Other
Abv Grd Liv Area 3,426
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $5,599
Tax Year 2022
Lot Size 9,147 Sqft
Acres 0.21
Lot Dimensions 0.00 x 125.00
Property Description
Nestled at 833 N 63rd Street, mere minutes from the bustling City Line Avenue and conveniently close to various public transportation options, this quadplex presents a rare opportunity for discerning investors seeking both immediate returns and long-term potential. Renovated in 2017, each of the four distinct apartments exudes modern charm and timeless appeal, boasting elegant wood floors, exposed brick accents, and gleaming stainless steel appliances.
The property's strategic location is further complemented by its proximity to a burgeoning development landscape, with a brand-new six-unit apartment building under construction adjacent to it, promising favorable future comparables.
**Unit Configurations and Rental Income:**
- **Apartment 1:** A spacious 2-bedroom, 2-bathroom sanctuary, commanding $1800 per month in rent.
- **Apartment 2:** Featuring 2 bedrooms and 1 bathroom, this unit offers comfortable living at $1500 monthly.
- **Apartment 3:** Another inviting 2-bedroom, 2-bathroom retreat, generating $1500 in monthly rental income.
- **Apartment 4:** Ideal for individuals or couples, this 1-bedroom, 1-bathroom haven commands $1200 per month.
**Operating Costs:**
- **PECO Common Area:** A reasonable $290 ensures efficient electricity distribution across common spaces.
- **Philadelphia Water Department:** $350
- **Landscaping:** With a monthly upkeep cost of $120 (May-November), the property's exterior maintains its inviting allure.
- **HVAC Maintenance:** Scheduled preventative maintenance, budgeted at $1200 annually, ensures optimal functionality of heating, ventilation, and air conditioning systems.
- **Insurance:** Currently estimated at $4052, adjustments are advised to optimize expenses and enhance profitability.
- **Taxes:** Set at $5599
This meticulously maintained quadplex not only promises immediate returns through its robust rental income but also stands poised to capitalize on the area's burgeoning development, making it an irresistible prospect for investors seeking both stability and growth in Philadelphia's dynamic real estate market.
Location
State PA
County Philadelphia
Area 19151 (19151)
Zoning RTA1
Interior
Interior Features Ceiling Fan(s)
Hot Water Electric
Heating Forced Air
Cooling Central A/C, Ceiling Fan(s)
Flooring Wood
Fireplace N
Window Features Energy Efficient,Replacement
Heat Source Natural Gas
Exterior
Utilities Available Electric Available
Water Access N
Roof Type Pitched
Accessibility None
Garage N
Building
Foundation Brick/Mortar, Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 342361720
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with Aaron Wallace • Keller Williams Main Line
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Broker-Owner | Lic# RM423246