UPDATED:
08/25/2024 03:23 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,658 sqft
Price per Sqft $246
Subdivision Powelton Village
MLS Listing ID PAPH2376868
Style Other
Abv Grd Liv Area 5,658
Originating Board BRIGHT
Year Built 1870
Annual Tax Amount $11,198
Tax Year 2024
Lot Size 2,000 Sqft
Acres 0.05
Lot Dimensions 20.00 x 100.00
Property Description
This exceptional real estate opportunity encompasses both 3202 and 3204 Hamilton St buildings, offering a rare chance to acquire a PRIME location generational investment acquisition opportunity. This turnkey 4-unit property is in the heart of Powelton Village and Drexel University. Each building consists of two units, presenting a total of four units for potential investment.
The property boasts fully leased units until the end of August 2025 currently generating a total of $11,150 per month, offering 7+ cap rate. Each bi-level unit features a spacious open-concept common area, fully equipped kitchen, large bedrooms with full closets, hardwood floors, recessed lighting, modern bathrooms, and separate washer/dryer. Additionally, both Unit 1s are accompanied by a good-size backyard for outdoor space, and all units are metered separately. This building has been fully gutted and partially rebuilt few years ago, offering newer mechanicals, plumbing, electrical and more.
The location is unbeatable , appealing to students, medical professionals, and university staff due to its close proximity to Drexel University, Upenn, and nearby hospitals. Furthermore, with an abundance of public transportation options and its convenience to Downtown Philadelphia, the property is well-positioned for future appreciation potential.
The ongoing new developments in the area, such as Schuylkill Yards, Science Center, and University Place 3.0, further underscore the potential for long-term growth and appreciation.
This multifamily investment opportunity is not to be missed, offering a strong rental history and significant potential for appreciation. Act fast, properties like this one are rare to come to the market!
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RTA1
Interior
Hot Water Natural Gas
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type None
Garage N
Building
Sewer Public Septic
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 241179320
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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