501 S 5th St

Philadelphia, PA 19147

Stately corner property on 5th and Lombard- 501 S 5th is a great opportunity for both new and experienced investors. The property is a recently renovated triplex with three 2-bedroom units. The first floor is home to the large first floor unit- 2 bedroom, 1 -bathroom with a finished basement. The second floor houses the other 2 bedroom bi-level units. Each unit is outfitted with A/C units, a stacked washer and dryer, stainless steel appliances, granite counter tops, large sun streaming windows, and hardwood floors throughout. Tenants and landlord are granted access to the beautiful Gaskill Mews Garden located directly behind the building .Located in the heart of Society Hill and in the McCall catchment, this is a great investment in one of Philadelphia's best neighborhoods at an over 6% cap rate. NOI is apx $65k/year.The property is currently completely rented and brings a gross rental income of $74,000/year. The 1st floor and #2R have leases through May 2023 and the monthly rent is $2150. #2F is vacant and the current asking rent is $2250- an ideal opportunity for an owner-occupant.