Description

1905 W Montgomery Avenue,
Philadelphia, PA 19121

Back On The Market...Here is a perfect opportunity to purchase in a booming area! This property is minutes from Temple University and Broad Street, a short drive from Brewerytown and Fairmount Park. This building consists of 4 units. 1 Studio unit and 3 one bedroom units. The first floor unit is the largest with a nice sized kitchen, high ceilings, access to the back yard and basement. The second floor consists of two units. The 2nd floor rear unit is a studio and the 2nd floor front apartment is 1 bedroom. The 3rd floor apartment has 1 bedroom and spans the entire length of the building and has great views of the city skyline. All utilities are separate and each unit has its own panel box. All units have baseboard heating. Please schedule a showing and come see what this building has to offer. Seller is motivated and will consider all offers. 2 units are currently occupied with month to month tenants the remaining 2 units are vacant and very easy to show. This property will be delivered vacant upon settlement Property taxes are less than $2,000 per year. Owners expenses include Property Taxes($1,979), Common Area Electricity ($18.00 per month), Homeowners Insurance($900 per year), Trash($300 per year) and Waste-water(28.02 per month).****************************Financial Breakdown:Projected/Current Rents1st Floor= $800 monthly ($9,600)2nd Floor Rear= $600 monthly ($7,200)2nd Floor Front= $700 monthly $(8,400)3rd Floor= $700 monthly ($8,400)100% Occupancy Rent= $2,800 per month and/or $33,600 per yearOwners Expenses are as follows:Property Taxes: $1,979 in 2020Waste-Water and Service Charge: $12.22 + $15.80= 28.02 per month and/or $336.24 per yearProperty Insurance= $900.00 per yearCommon Area Electricity is $18.00 per month and/or $216.00 per year.Tenants Pay:* Electricity*WaterUtilities Are:* Electric Cooking* Baseboard Electric Heating*Wall/Window Unit ACOwners Projected Income:Rental Income= $33,600Expenses= $3,431.24Net Income: $33,600-$3,431.24= $30,168.76** Projection assumes 100% Occupancy Rate**

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1905 W Montgomery Avenue
Philadelphia, PA 19121

Description