503 Delair Ave
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503 Delair Ave
13 Unit Block of Flats £1,183,500 (£91,038/Unit) 7.27% Net Initial Yield Pennsauken, NJ 08110
Investment Highlights
- Prime location
- Landlord to provide DCA
- Steady cash flow
Executive Summary
INCREDIBLE investment opportunity! Property located on quiet street near betsy ross bridge features x12 one Bedroom units which are completely tenant occupied. x1 unit on the end of the building features two bedrooms. well-maintained Basement has been recently redone & offers new concrete floors & an abundance of extra storage. Conveniently located near various major highways with easy access into Philly for commuters. Landlord to provide DCA with the sale. Great opportunity for landlords as Pennsauken does not require annual registration with the city, only a DCA which was completed earlier last year. You won't want to miss this multi-family property with endless income potential!
**Please reach out to listing agent with proof of funds to schedule - appointment must be confirmed. Group showings only. Appointment must be confirmed by 6p the day before. The next proposed Group Showings (not an open house), will be Wed (12/11) @ 3:00p**
**Please reach out to listing agent with proof of funds to schedule - appointment must be confirmed. Group showings only. Appointment must be confirmed by 6p the day before. The next proposed Group Showings (not an open house), will be Wed (12/11) @ 3:00p**
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£116,909
|
£23.38
|
| Other Income |
£4,266
|
£0.85
|
| Vacancy Loss |
£6,059
|
£1.21
|
| Effective Gross Income |
£115,116
|
£23.02
|
| Taxes |
£16,053
|
£3.21
|
| Operating Expenses |
£12,949
|
£2.59
|
| Total Expenses |
£29,002
|
£5.80
|
| Net Operating Income |
£86,114
|
£17.22
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £116,909 |
| Annual Per SF | £23.38 |
| Other Income | |
|---|---|
| Annual | £4,266 |
| Annual Per SF | £0.85 |
| Vacancy Loss | |
|---|---|
| Annual | £6,059 |
| Annual Per SF | £1.21 |
| Effective Gross Income | |
|---|---|
| Annual | £115,116 |
| Annual Per SF | £23.02 |
| Taxes | |
|---|---|
| Annual | £16,053 |
| Annual Per SF | £3.21 |
| Operating Expenses | |
|---|---|
| Annual | £12,949 |
| Annual Per SF | £2.59 |
| Total Expenses | |
|---|---|
| Annual | £29,002 |
| Annual Per SF | £5.80 |
| Net Operating Income | |
|---|---|
| Annual | £86,114 |
| Annual Per SF | £17.22 |
Property Facts
| Price | £1,183,500 | Apartment Style | Low Rise |
| Price Per Unit | £91,038 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Net Initial Yield | 7.27% | Building Size | 3,000 SF |
| No. Units | 13 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £1,183,500 |
| Price Per Unit | £91,038 |
| Sale Type | Investment |
| Net Initial Yield | 7.27% |
| No. Units | 13 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,000 SF |
| Number of Floors | 2 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 12 | £746.00 | - |
| 2+1 | 1 | £870.27 | - |
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PROPERTY TAXES
| Parcel Number | 27-01309-0000-00007 | Total Assessment | £376,124 (2024) |
| Land Assessment | £28,440 (2024) | Annual Taxes | £16,053 (£5.35/sf) |
| Improvements Assessment | £347,683 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
27-01309-0000-00007
Land Assessment
£28,440 (2024)
Improvements Assessment
£347,683 (2024)
Total Assessment
£376,124 (2024)
Annual Taxes
£16,053 (£5.35/sf)
Tax Year
2023
-
Patrick Gorman -
Keller Williams Main Street Realty
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503 Delair Ave
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