MLS® ID: PAPH508420
4837 MORRIS STREET
PHILADELPHIA, Pennsylvania, 19144 $290,000
Start 2019 building equity as an owner or occupant of this legally zoned tri-plex. Completely renovated in 2014 with all new baths, kitchens, floors and a new HVAC equipment. Allmost all windows have been replaced and the units get great light since it is across from Fernhill Park. Gas and electric are separately metered with the owner only paying for water. Taxes are relatively low considering that rents are approximately [$2600] a month. Property can be purchased below replacement cost ($100-120 a foot) and combined with adjacent property for a slight discount in the event a potential buyer wants six (6) units. Two of the three tenants have leased at this property for over [two] years, providing stable cash flow with no costs associated with re-tenanting the asset.The property is in a quiet area of Germantown easily accessible off Route 1, near a SEPTA bus line and six blocks from the Queen Lane station taking you to points beyond. It is three minutes to the shops and restaurants in East Falls on Midvale Avenue and less than five minutes to the charming historic Germantown Avenue with shops & restaurants.Follow established investors like the Weinstein Origanization (Wayne Junction redevelopment is three blocks North of this location) and others that continue to invest in Germantown.