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516 N Preston St 516 N Preston St

3 Unit Block of Flats £568,697 (£189,566/Unit) 6.64% Net Initial Yield Philadelphia, PA 19104

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Investment Highlights

Fantastic Investment Opportunity! Don’t miss this fully rented triplex with excellent cash flow and low annual expenses
This property is strategically positioned near the University City Science Center, Drexel University, and the University of Pennsylvania
With multiple convenient SEPTA transportation options available.

Located in the thriving West Powelton neighborhood
With a variety of dining and coffee options.
It is less than ten minutes by car or bicycle to Center City—an undeniable opportunity for any investor.

Executive Summary

Fantastic Investment Opportunity! Don’t miss this fully rented triplex with excellent cash flow and low annual expenses. This property features three units with a total of eight bedrooms: a spacious bi-level four-bedroom, two-bath unit complete with a kitchen, two living areas, and a private patio. The second and third floors offer two updated two-bedroom, one-bath units. Each apartment boasts hardwood and ceramic tile flooring, modern kitchens with gas stoves, in-unit washers and dryers, and individual heating and central air conditioning. Recent upgrades include: newer HVAC units (units A, B, and C), vinyl siding, new water service line, new dishwasher (Unit A), new range and microwave (unit C). Located in the thriving West Powelton neighborhood, this property is strategically positioned near the University City Science Center, Drexel University, and the University of Pennsylvania, along with a variety of dining and coffee options. With multiple convenient SEPTA transportation options available, it is less than ten minutes by car or bicycle to Center City—an undeniable opportunity for any investor.

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	£50,662	£13.58
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	£50,662	£13.58
Taxes	-	-
Operating Expenses	-	-
Total Expenses	£12,517	£3.35
Net Operating Income	£38,145	£10.22

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	£50,662
Annual Per SF	£13.58

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	£50,662
Annual Per SF	£13.58

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	£12,517
Annual Per SF	£3.35

Net Operating Income
Annual	£38,145
Annual Per SF	£10.22

Property Facts

Price	£568,697	Building Class	C
Price Per Unit	£189,566	Lot Size	0.08 AC
Sale Type	Investment	Building Size	3,732 SF
Net Initial Yield	6.64%	Average Occupancy	100%
No. Units	3	Number of Floors	3
Property Type	Residential	Year Built	2009
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Townhome

Price	£568,697
Price Per Unit	£189,566
Sale Type	Investment
Net Initial Yield	6.64%
No. Units	3
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Townhome
Building Class	C
Lot Size	0.08 AC
Building Size	3,732 SF
Average Occupancy	100%
Number of Floors	3
Year Built	2009
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Air Conditioning
Washer/Dryer

Heating
Kitchen

Wooden Floors
Sprinkler System

Tub/Shower
Basement

Site Amenities

24 Hour Access

Public Transportation

Walk-Up

Smoke Detector

Unit Mix Information

Description	No. Units	Avg. Rent.Mo	SF
4+2	1	£1,804	-
2+1	2	£1,091	-

1 of 1

Walk Score ®

Very Walkable (73)

Transit Score ®

Excellent Transit (88)

Bike Score ®

Biker's Paradise (99)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

zoning

Zoning Code	RSA5 (allows for single-family attached dwellings with a maximum height of 38 feet, a minimum lot width of 16 feet, and a maximum occupied area of 75% of th)
RSA5 (allows for single-family attached dwellings with a maximum height of 38 feet, a minimum lot width of 16 feet, and a maximum occupied area of 75% of th)