1348 Orthodox St

Philadelphia, PA 19124

ATTENTION INVESTORS and FUTURE INVESTORS - 10% plus Cap Rate, 4 units with an owners bi-level apartment and basement access with legal fire alarm. This large quadraplex in the Northwood section of Northeast Philly is directly across from Overington Park, a 4 Acre oasis of graceful lawns, shady trees and flower gardens and right down the street from Frankford Select Friends School. The building was previously a large estate, before being transformed into a multi-family building years ago, but the original charm and character still exist today. The property is currently partially occupied and has almost 3,000 squares ft. of living space with 3 -1 bedroom apartments and an owners unit, a 4 bedroom bi-level apartment with 2 full bathrooms and a full basement. All separate utilities, water, electric and & gas are all tenants responsibility. Owner pays for cold water. Roof was just maintained in 2022, all water heaters were upgraded at the same time for each unit just a few years ago and each unit has its own heater which were all purchased at the same time as well. The owner resided here for years and took care of the building as his primary residence and not a rental. The property shows a positive income, projected to gross over $41k annually when fully occupied and a +10% Cap Rap with a +20% Cash on Cash Return. Only PAR agreements, no letters of intent.