5910 Webster St - 22 Property Portfolio In Cobbs Creek 43,500 SF Specialty Building Offered at £2,486,220 at a 7.13% Net Initial Yield in Philadelphia, PA 19143



INVESTMENT HIGHLIGHTS
- Professionally managed package (property manager can remain, at buyer’s option).
- If desired, enjoy the flexibility to improve and/or spin-off certain assets and hold the rest.
- In a red hot neighborhood with some under-valued rents and significant capital appreciation opportunity.
EXECUTIVE SUMMARY
A fantastic opportunity to acquire a premium and well managed portfolio of 22 single-family properties (all occupied), centered in and around the burgeoning Cobbs Creek neighborhood in West Philadelphia. All 22 parcels are situated in a tight geographic area ideal for management and enhanced economies of scale. In a red hot neighborhood with some under-valued rents and significant capital appreciation opportunity. If desired, enjoy the flexibility to improve and/or spin-off certain assets and hold the rest. Professionally managed package (property manager can remain, at buyer’s option). These 22 townhomes present an advantageous investment opportunity in a rapidly improving West Philadelphia neighborhood, close to amenities, public transportation, Cobbs Creek Trail, and other developments. Inclusive of those developments is a $65 million commitment by the city of Philadelphia, The Cobbs Creek Foundation, and The TGR Foundation (founded by Tiger Woods) to revamp the existing golf course (Philadelphia's oldest course), enhance the public space, and create an educational campus for local youth. The Cobbs Creek Environmental Center has also planned significant improvements. The full 22-property portfolio includes (with their OPA Account #’s): 1410 N Hirst Street, (342327100). 1633 N 60th Street, (342196000). 1847 S 54th Street (512085600). 516 S 59th Street, (032198600). 5355 Irving Street, (603054300). 5513 Irving Street, (604057300). 5542 Larchwood Avenue, (463004200). 5624 Rodman Street, (463031900). 5639 Montrose Street, (463141400). 5642 Broomall Street, (513114000). 5731 Rodman Street, (463029200). 5734 Rodman Street, (463035200). 5752 Pemberton Street, (463072700).5757 Walton Street, (463081300). 5787 Stewart Street, (043219500). 5816 Washington Avenue, (033113800). 5910 Webster Street, (033030300). 6021 Christian Street, (033053800). 6037 Irving Street, (031103100). 6111 Irving Street, (031104700). 6137 Locust Street, (031089100). 629 N Frazier Street, (043062900).
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
£413,318
![]() |
£9.50
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Other Income |
-
![]() |
-
![]() |
Vacancy Loss |
-
![]() |
-
![]() |
Effective Gross Income |
£413,318
![]() |
£9.50
![]() |
Taxes |
£38,967
![]() |
£0.90
![]() |
Operating Expenses |
£31,057
![]() |
£0.71
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Total Expenses |
£70,023
![]() |
£1.61
![]() |
Net Operating Income |
£343,295
![]() |
£7.89
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PROPERTY FACTS
Price | £2,486,220 |
Price Per SF | £57.15 |
Sale Type | Investment |
Net Initial Yield | 7.13% |
Sale Condition | Portfolio Sale |
Property Type | Specialty |
Property Subtype | Residential Income |
Building Class | C |
Lot Size | 0.04 AC |
Building Size | 43,500 SF |
Number of Floors | 70 |
Year Built | 1925 |
Zoning | RSA5 - Most properties are RSA-5. A few are RSA-3 and RM1. |
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Bike Score®
Very Bikeable (79)