3861 Fairmount Ave Philadelphia, PA 19104

4,000 SF Built 2024

Property ID

US73-1621652

$765,000 4,000 SF

3861 Fairmount Ave, Philadelphia, PA 19104
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This exceptional three-unit apartment building, located at 3861 Fairmount Ave in Philadelphia, PA 19104, presents a compelling investment opportunity. Built in 2024, this Class A property boasts 4,000 square feet on a 1,400 square foot lot, offering three spacious, luxury condo-style apartments. Each unit features a modern design with rustic flooring, stainless-steel appliances, and ample living space. Unit #1, a 3-bedroom, 3-bathroom apartment, currently commands a monthly rent of $2100. Unit #3, a 2-bedroom, 2-bathroom unit with a top deck, rents for $1900 per month. Unit #2 is a 2-bedroom, 2-bathroom apartment. All units are individually metered for gas and electric, equipped with their own gas furnaces and water heaters, and include in-unit washer/dryers. The building benefits from a 10-year tax abatement and a 1-year builder warranty. Its prime location near Drexel University and UPenn, along with excellent walkability (Walk Score 87, Transit Score 62, Bike Score 95), ensures high occupancy rates and strong rental income potential. The property's proximity to public transportation, restaurants, cafes, bars, and shops further enhances its appeal. This fee-simple ownership opportunity offers a price per unit of $290,000 and a total asking price of $870,000, translating to $217.50 per square foot. The predicted monthly rental income is approximately $6000. This is a truly remarkable investment in a thriving Philadelphia neighborhood.