GEORGE MANOLAKOS

Description

It is my distinguished honor to present to you the CROWN OF CHELTEN AVE., located in the Heart of Germantown & West Oak Lane, Broad St other subsections of the Northwest region of Philadelphia. Situated at the intersecting sections between Broad St., Chelten AVe., & Stenton Ave., this 2 unit building is nestled in between public transportation infrastructure, medical institutions, new construction, and commercial mixed use corridors with a multitude of amenities. This property is ideal for a homeowner who would like to live in one unit and use the existing cash flow from the other stabilized unit to minimize their monthly payment, without having to find their own tenants or an investor who is looking for a stabilized duplex with existing cash flow from great tenants. Homeowners are able to utilized FHA or conventional homeowner loans with as little as 3.5% or 5% Down Payment. Seller is also willing to provide seller assist to help buyers pay for closing costs and there are many grant programs to help homeowners acquire their 1st home. DUPLEX FEATURES & AMENITIES: This 2 bed/1 bathroom duplex is newly renovated with luxury vinyl plank floors, stainless steel appliances, subway tiles, bathroom porcelain floors, and other amenities. The units are fully electric and Unit 1 has a recently updated back patio with new steps leading into a gravel backyard. Unit 1 [1st Floor]: 2 Bed/1 Baths: | Unit 2 [2nd Floor]: 2 Bed/1 Bath: LEASE & TENANCY: The pro-forma and other financial analysis are available for review. The lease agreements are month-to-month and we project rental income could be increased. Unit 1 [1st Floor]: 2 Bed/1 Baths: $1200/month | Unit 2 [2nd Floor]: 2 Bed/1 Bath: $1200/month. CAPITALIZATION RATE: Cap Rate of % with current accumulative rental income of $2400 per month. DEVELOPMENT: There are major development projects occurring nearby, including commercial mixed use corridor revitalization. There are also block developments of major projects that range nearby. Philadelphia City Council & Mayoral administration has approved a $2 Billion Housing Action Plan for the development of 13,500 new construction units and preservation of 16,500 existing homes, many assets and development within the nearby area. Investors also acquire shells, factories, storage facilities, warehouses, and other industrial hubs that have laid vacant since the Industrial Revolution of Philadelphia and transform these buildings into multi-unit dwellings and apartment complexes. The combination of public transportation infrastructure meets commercial mixed use corridors allow for tenants to access amenities that makes this multi-unit building a highly desirable and easy to rent building. Additional features include: - Easy Parking - Close to trolley, bus stops, the thoroughfares, L Blue Train - Multicultural cuisine & food establishment. Invest in the City of Brotherly Love & Sisterly Affection, from monstrous skyscrapers, to the stadiums, to the Delaware River, & surrounding landscape of the great City of Philadelphia. The property is close to trolley and bus stops, and less than 10 minutes from the Philadelphia International Airport. and close to multi-modal public transportation, 1-95 highway, and highways to New Jersey and other parts of the Tri-State Counties. We thank you for your consideration and we look forward to doing business with you. We will ensure a professional and respectful transaction for all parties and we wish you luck in the search for your new home in the City of Brotherly Love & Sisterly Affection.

Features