613 52Nd StPhiladelphia, PA 19143

For Sale
$260,000

Updated Duplex, High Rental Potential

Overview

Added:
Dec 11, 2024
Days on market:
93
This two-unit, two-story apartment building in Philadelphia's University City neighborhood presents a compelling investment opportunity. Priced at $260,000, this 270 square foot Fee Simple property boasts a 5.60% cap rate and sits on a 1,174 square foot lot (APN: 462140700). Each unit features two bedrooms, one bathroom, a spacious living area, and a kitchen, complete with washer and dryer hookups. Recent renovations include updated windows, roof, kitchen, bathrooms, and hardwood floors throughout. Separate utilities (two gas meters, three electric meters) enhance efficiency. An unfinished basement is accessible from the outside. The property is zoned CMX-2 and is configured as a duplex, suitable for owner-occupancy or as a rental investment. Potential rental income is estimated at $1,100-$1,400 per month per unit. The property qualifies for the CRA program, offering a 3% down payment and no mortgage insurance. Located near Drexel University, the University of Pennsylvania, and public transportation, it benefits from a Walk Score of 89, Transit Score of 71, and Bike Score of 93. Nearby parks include Black Oak Park and Cedar Park. The property's prime location offers easy access to restaurants, coffee shops, and retail on Baltimore Avenue. Buyer to verify zoning.

Highlights

  • Zoned and configured as a duplex.
  • Excellent residential or investment opportunity.
  • Potential rental income: $1,100-$1,400/month per unit.
  • Recently updated with new windows, roof, kitchen, baths, and floors.
  • Features high ceilings and hardwood floors.
  • Each unit offers spacious living areas, kitchens, two bedrooms, and one bathroom.

Property Details for 613 52Nd St

Property type
Multifamily properties, Apartment buildings
Square Feet
270 SF
Class
C
Buildings
1
Stories
2
Units
2

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9500587
Longitude
-75.2267041
613 52Nd St, Philadelphia, Pennsylvania

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613 52Nd St
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