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Sold for $400,000 on 05/31/24
  • $400,000

    332 N 62nd St, Philadelphia, PA 19139

    3beds
    4baths
    1,880sqft
    Townhouse
    Built in 1915
    -- sqft lot
    $411,700 Zestimate®
    $213/sqft
    $1,420 Estimated rent

    What's special

    INVESTORS BEHOLD! 332 N 62nd Street is a golden opportunity for savvy investors seeking a lucrative addition to their portfolio. This property is also perfect for the beginning investor looking for their first investment. The property is part of a six unit portfolio. Here's what makes this investment stand out: **Income Potential:** This multi-unit property boasts 4 spacious units, each offering comfortable living spaces and modern amenities. Whether you're targeting long-term renters or looking to live in one of the units and rent the others, the income potential is substantial. With competitive rental rates in the area and increasing demand for housing, you can expect a consistent cash flow and attractive returns on your investment. **Value-Add Opportunity:** While the property is already generating income, there's ample room for value enhancement. With a strategic renovation or upgrade plan, you can maximize rental income and increase property value. Whether it's modernizing interiors, enhancing curb appeal, or adding amenities, the potential for appreciation is significant. The property does already have a State of the Art Security System with electronic entry and a full sprinkled interior with an up to date fire alarm system. **Prime Location:** Situated in the vibrant and rapidly developing Haddington neighborhood of Philadelphia, this property is strategically positioned to capitalize on the growth of West Philadelphia. It is a short walk to the Market/Frankford 63rd street station. The #30 & #31 buses are steps away. There is easy access to major transportation routes, as well as, all of the renowned West Philadelphia universities, employment hubs, and a plethora of amenities. This location is highly desirable for tenants seeking convenience and connectivity. Very close to Haddington Woods and Cobbs Creek Park. Wonderful restaurants are within walking distance: Jim’s Steaks West, 5-Star Jamaican, Morronne’s Water Ice etc. **Stable Market Dynamics:** West Philadelphia's real estate market has demonstrated resilience and stability, making it an ideal environment for investors seeking long-term growth. With a diverse economy, a thriving job market, and a steady influx of residents, the demand for rental properties remains robust. **Investment Highlights:** - Multi-unit property with 4 units - Prime location in the heart of Philadelphia, PA - Strong rental demand and competitive rental rates - Value-add opportunities for increased cash flow and appreciation - Stable and growing real estate market with favorable investment conditions 332 N 62nd Street offers an exceptional blend of potential and profitability.

    Zillow last checked: 7 hours ago

    Listing updated: August 06, 2024 at 01:30pm

    Listed by:

    Piruz Partow 646-436-1222,

    Select Commercial Advisors,

    Co-Listing Agent: Samantha Lee Miller 215-315-3326,

    Select Commercial Advisors

    Bought with:

    Piruz Partow, RS362309

    Select Commercial Advisors

    Source: Bright MLS,MLS#: PAPH2338956MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 3
    • Bathrooms: 4
    Basement
    • Area: 0
    Heating
    • Forced Air, Natural Gas
    Cooling
    • Central Air
    Appliances
    • Included: Gas Water Heater
    Features
    • Basement: Improved
    • Has fireplace: No
    Interior area
    • Total structure area: 1,880
    • Total interior livable area: 1,880 sqft

    Property

    Parking
    • Parking features: On Street
    • Has uncovered spaces: Yes
    Accessibility
    • Accessibility features: None
    Features
    • Pool features: None
    Lot
    • Size: 1,911 sqft
    • Dimensions: 16.00 x 122.00
    Details
    • Additional structures: Above Grade, Below Grade
    • Parcel number: 341228600
    • Zoning: RM1
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: AirLite
    • Property subtype: Townhouse
    Materials
    • Masonry
    • Foundation: Other
    Condition
    • New construction: No
    • Year built: 1915
    • Major remodel year: 2020

    Utilities & green energy

    • Electric: 200+ Amp Service
    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Location
    • Region: Philadelphia
    • Municipality: PHILADELPHIA

    HOA & financial

    Other financial information
    • Total actual rent: 46800

    Other

    Other facts
    • Listing agreement: Exclusive Agency
    • Listing terms: Conventional,FHA,Cash,VA Loan
    • Ownership: Fee Simple
    Services availability
    Sell for more on Zillow
    Get a free Zillow Showcase℠ listing and you could sell for .
    $411,700
    2% more+ $8,234
    With Zillow Showcase(estimated)
    $419,934