2601 Cecil B Moore Ave

Philadelphia, PA 19121

Big Price Reduction !!! Highly motivated sellers ready to get a deal done. Opportunity Zone!!This is a 3,780 square foot mixed use property. Currently zoned for a 4 Unit with commercial space on 1st floor. Part of the zoning does allow the sale of pre packaged foods as well. Currently the commercial space is used by the owner as a Barbershop but will be delivered vacant for the buyer. There are 4 units upstairs, 3 units are occupied with rent paying tenant and 1 unit is vacant. Rent roll is as followsCommercial- $2000 (based on market rent in the area)Unit 1- 1 Bed 1 Bath $725Unit 2- 1 Bed 1 Bath $725Unit 3- 2 Bed 1 Bath $825 Unit 4- 1 Bed 1 Bath $625Total- $4900 a month- $58,800 a year Cap Rate of 9.7%Rent is currently under fair market, so there is potential to raise 1 bed to $780 and 2 bed to $950. The owner has made sure to make all repairs over the years and it has been taken care of very well. Roof was recently sealed and hallways painted as well. 1st floor barbershop was recently renovated with new flooring & paint. This are is very hot and this property is ready to sell. All tenants are on month to month leases.