3,592 SqFt
3,592 SqFt
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 3,592 sqft
Price per Sqft $200
Subdivision Temple University
MLS Listing ID PAPH2678078
Style Contemporary
Abv Grd Liv Area 3,592
Year Built 2016
Annual Tax Amount $7,782
Tax Year 2027
Lot Size 1,189 Sqft
Acres 0.03
Lot Dimensions 16.00 x 73.00
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
THREE APARTMENTS FEATURING 14 BEDROOMS AND NINE FULL BATHROOMS! The building includes one FIVE-BEDROOM, THREE-BATHROOM apartment, one THREE-BEDROOM, TWO-BATHROOM apartment, and one SIX-BEDROOM, FOUR-BATHROOM apartment. This varied unit mix offers generous bedroom capacity across three residences, making the property an appealing option for investors seeking a multifamily asset with larger apartment configurations.
Each apartment features its own IN-UNIT WASHER AND DRYER, individual water heater, and dedicated HVAC system providing CENTRAL HEAT AND CENTRAL AIR CONDITIONING. These appliances and systems operate on electricity. Individual heating and cooling systems allow residents to control their own apartment's temperature, while private laundry adds everyday convenience.
KEYPAD ENTRY AND SECURITY CAMERAS complement the building's modern amenities. Coded keypad locks provide convenient access, while cameras offer additional monitoring of the property.
SIGNIFICANT POTENTIAL TO GROW RENTAL INCOME! Ownership estimates that total monthly rental income could approach $8,800 upon re-leasing, equivalent to $105,600 annually. This represents a potential increase of $2,461 per month, or $29,532 annually, over current rents. At this projected income, the property could achieve an estimated 11.97% CAP RATE, based on a $720,000 purchase price and unchanged operating expenses. The estimated rental upside provides an opportunity for a future owner to improve income as existing leases expire and apartments are re-leased at achievable market rates. Projected rents and returns are estimates, subject to market conditions and independent verification, and are not guaranteed.
Built in 2018, this fully occupied property brings together modern construction, individual apartment systems, in-unit laundry, and a substantial bedroom count. With current rental income and potential for future growth, 1604 N. Willington St. offers a compelling opportunity to establish or expand a Philadelphia multifamily portfolio.
AT LEAST 24 HOURS' ADVANCE NOTICE IS REQUIRED FOR ALL SHOWINGS. Please coordinate appointments in advance to accommodate the occupied apartments.
All information, including unit configuration, bedroom and bathroom counts, occupancy, lease terms, current and projected rental income, expenses, current and projected cap rates, construction year, utilities, and property features, must be independently verified by the buyer and buyer's representatives.
One listing agent is related to the owner of the building.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Rooms
Basement Fully Finished
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Equipment Dishwasher, Washer, Dryer
Appliance Dishwasher, Washer, Dryer
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Private Pool No
Building
Foundation Concrete Perimeter
Above Ground Finished SqFt 3592
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 471242200
Ownership Fee Simple
SqFt Source 3592
Special Listing Condition Standard
Nearby Locations
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