Current Use by Public Records
- Residential income homes
Property Details for 1937 Croskey St
- Property type
- Residential income homes
Description
This exceptional three-unit, fee-simple multifamily investment property in Philadelphia, PA (19145), offers a compelling opportunity for investors seeking a stabilized, turnkey portfolio. Comprising three renovated buildings totaling 3,060 square feet, this Class B property boasts 100% occupancy with strong, reliable tenants. Each unit features modern updates, including chef-style kitchens, spacious living rooms, three generous bedrooms, and stylish bathrooms. The portfolio generates a substantial net operating income (NOI) of $41,760, resulting in a 6.68% cap rate. Individual unit rents are $1,350, $1,275, and $1,300 per month. The properties, located at 1937 S Croskey St and two adjacent addresses, are situated in an appreciating area and benefit from a recent 2022 renovation. The buildings are two stories each, zoned RSA5, and offer a price per unit of $208,333.33, with an overall asking price of $625,000. This represents an excellent value at $204.25 per square foot. The potential for increased rental income is significant, given the current Section 8 rent schedule of $2,580 per month for comparable properties.
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Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1828
- Latitude
- 39.9278
