Property

Philadelphia, PA 19104 516 N Preston Street

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Presented By: Compass Pennsylvania, LLC
  • MLS# PAPH2413020
  • 10/23/2024
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  • Beds • 4

Home Details

Fantastic Investment Opportunity! Dont miss this fully rented triplex with excellent cash flow and low annual expenses. This property features three units with a total of eight bedrooms: a spacious bi-level four-bedroom, two-bath unit complete with a kitchen, two living areas, and a private patio. The second and third floors offer two updated two-bedroom, one-bath units. Each apartment boasts hardwood and ceramic tile flooring, modern kitchens with gas stoves, in-unit washers and dryers, and individual heating and central air conditioning. Recent upgrades include: newer HVAC units (units A, B, and C), vinyl siding, new water service line, new dishwasher (Unit A), new range and microwave (unit C). Located in the thriving West Powelton neighborhood, this property is strategically positioned near the University City Science Center, Drexel University, and the University of Pennsylvania, along with a variety of dining and coffee options. With multiple convenient SEPTA transportation options available, it is less than ten minutes by car or bicycle to Center Cityan undeniable opportunity for any investor.
Presented By: Compass Pennsylvania, LLC

Interior Features for 516 N Preston Street

Bedrooms

Three Bedroom Units Count

Other Interior Features

LivingAreaSourceEstimated
BasementFull, Fully Finished
Basement (Y/N)Yes
Central Air Y/NYes
Fireplace Y/NNo
FlooringHardwood
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterElectric

General for 516 N Preston Street

AccessibilityNone
Architectural StyleTraditional
Cap Rate6.70
CityPHILADELPHIA
Construction MaterialsBrick Front, Vinyl Siding
Cool FuelElectric
CoolingCentral A/C
CountyPHILADELPHIA
Directions516 N Preston St
Exclusionstenants personal belongings
FULLFee Simple
Garage Y/NNo
Gross Income64586.64
HeatingForced Air
Lease TypeYearly
Lot Size Square Feet1524.00
Lot Size UnitsSquare Feet
MLS Area19104 (19104)
ModificationTimestamp2024-12-03T10:34:37
MunicipalityPHILADELPHIA
Net Operating Income48628.70
New ConstructionNo
Number of Units Leased3
NumberOfUnitsTotal3
NumberOfUnitsVacant
One Bedroom Units Count
Other StructuresAbove Grade, Below Grade
Other UnitsUnit 1, Unit 2, Unit 3
OwnerPaysHeater Maintenance Contract, Insurance, Pest Control, Repairs, Sewer, Snow Removal, Taxes - Real Estate, Water
PossessionSettlement
Price Per Sq Ft Total AG256.0
Property ConditionVery Good
Property SubtypeTriplex
Property TypeMulti-Family
School DistrictTHE SCHOOL DISTRICT OF PHILADELPHIA
SewerPublic Sewer
Single Room Units Count0
Standard StatusActive
StatusACTIVE
Structure TypeEnd of Row/Townhouse
Subdivision NamePOWELTON VILLAGE
Tax Annual Amount7418.0
Tax Assessed Value530000.0
Tax Lot240
Tax Year2024
Total Actual Rent64586.64
Total SQFT3732
Two Bedroom2
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built2009
Year Built SourceAssessor
ZoningRSA5

Exterior for 516 N Preston Street

Foundation DetailsConcrete Perimeter
Land Assessed Value106000.00
Land Use CodeW50
Lot Dimensions17.00 x 92.00
Lot Size Acres0.03
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
PoolNo Pool
Type of ParkingOn Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Tina Torres

Broker/Owner
Price $725,000
MLS#PAPH2413020
List Date 10/23/2024
Property Type Multi-Family
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