1439 W Venango St
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1439 W Venango St
2 Unit Block of Flats £346,318 (£173,159/Unit) 10.02% Net Initial Yield Philadelphia, PA 19140
INVESTMENT HIGHLIGHTS
- Close to all major transportation
- Temple Medical School
EXECUTIVE SUMMARY
Tremendous Investment Opportunity next to Temple Health! Fully occupied duplex with two bi-level 4-bedroom units! The total rent is $4,111 across both units and it’s 84% subsidized ($3,436 direct-deposited by the government on the 1st of each month)! FULL 10-YR TAX ABATEMENT. The Property can be delivered FULLY-OCCUPIED, VACANT, or with 1 occupied unit for easy House Hackinng. The location is ideal: 1-2 blocks from major employers (Temple University Hospital, Shriner’s Children’s Hospital), graduate schools (Temple Medical and Dental School), public transportation (Broad Street Line subway), and the upcoming Beury Hotel & Residences (138-room Courtyard Marriott hotel, 113-unit ground-up apartment building). Each bi-level unit has washer-dryer, quartz countertops, central HVAC, and electric appliances. Bottom units has a private backyard and full basement for storage. Electric is separately-metered for each unit (no gas). Project was fully remodeled in Q3 2023.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£38,050
|
£13.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£38,050
|
£13.35
|
| Taxes |
£116
|
£0.04
|
| Operating Expenses |
£4,025
|
£1.41
|
| Total Expenses |
£4,141
|
£1.45
|
| Net Operating Income |
£33,909
|
£11.90
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £38,050 |
| Annual Per SF | £13.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £38,050 |
| Annual Per SF | £13.35 |
| Taxes | |
|---|---|
| Annual | £116 |
| Annual Per SF | £0.04 |
| Operating Expenses | |
|---|---|
| Annual | £4,025 |
| Annual Per SF | £1.41 |
| Total Expenses | |
|---|---|
| Annual | £4,141 |
| Annual Per SF | £1.45 |
| Net Operating Income | |
|---|---|
| Annual | £33,909 |
| Annual Per SF | £11.90 |
PROPERTY FACTS Under Contract
| Price | £346,318 | Building Class | A |
| Price Per Unit | £173,159 | Lot Size | 0.03 AC |
| Sale Type | Investment | Building Size | 2,850 SF |
| Net Initial Yield | 10.02% | Average Occupancy | 100% |
| No. Units | 2 | Number of Floors | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2023 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | £346,318 |
| Price Per Unit | £173,159 |
| Sale Type | Investment |
| Net Initial Yield | 10.02% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.03 AC |
| Building Size | 2,850 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1930/2023 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Bay Window
- Refrigerator
- Tub/Shower
- Porch
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 8+4 | 2 | - | 1,400 |
Walk Score®
Very Walkable (82)
Transit Score®
Excellent Transit (80)
ZONING
| Zoning Code | R (Residential) |
| R (Residential) |
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1439 W Venango St
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