Legal Triplex | Income-Producing Investment | Temple University Area
Excellent investment opportunity just blocks from Temple University! This legal triplex features three residential units plus a bonus storage unit, offering multiple income streams.
Current/Recent Rents:
3rd Floor – 2 Bedroom: $1,165/month
2nd Floor – 1 Bedroom: $995/month (just vacated)
1st Floor – 1 Bedroom: $1,075/month (just vacated)
Storage Unit: $300/month
Recent Total Monthly Rent: $3,535
*Leases available upon request
The property includes coin-operated laundry machines, an up-to-date fire alarm system, and has recently had the first and second floor apartments vacated, making them ready for a new owner to lease at current (higher) market rates.
Please note that all three apartments were below market rent. But investors utilizing the Philadelphia Housing Authority (PHA) program may achieve substantially higher rents. Current PHA payment standards indicate potential rents of approximately:
2 Bedroom: $1,660/month
Each 1 Bedroom: $1,390/month
Potential residential rental income: Approximately $4,440/month, plus additional income from the storage unit and coin-operated laundry.
The third-floor tenant is in good standing and currently on a month-to-month lease.
*This is an AS-IS, Where-Is Sale. Buyer Pays All Transfer Taxes.*
*Seller will consider Cash, HardMoney, and Conventional Loans. Inspections are for informational purposes only.*