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Mike Ciunci

mikeciunci@kw.com +1(610) 256-1609

$ 650,000

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Under Contract

1724 MONUMENT ST Philadelphia, PA 19121

2,500 SqFt

UPDATED:

11/17/2024 07:34 PM

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Under Contract

Purchase Type For Sale

Square Footage 2,500 sqft

Price per Sqft $260

MLS Listing ID PAPH2413026

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

Listed by Toma Holovatskyy • RE/MAX Plus

Mike Ciunci

+1(610) 256-1609

Mike Ciunci

1724 MONUMENT ST Philadelphia, PA 19121

Key Details

Location

Interior

Exterior

Building

Schools

Others

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1724 MONUMENT ST