$462,500

5113 Springfield Ave

PHILADELPHIA PA, 19143

Description

Completely renovated in 2013; and upgraded again in 2016! This fully renovated original triplex is fully rented and producing a positive cash flow. The current rents are are solid for the surrounding area and secure through Summer of 2021. Unit 1 has originally refurbished hardwood floors, original woodwork, 4-piece kitchens with wood cabinets and granite, central thermostat controlled baseboard electric heating systems, newer E-rated windows, and laundry. First floor apartment also has separate entrance to private rear yard. Unit 1 is rented for $1,200 per month.Unit 2 has originally refurbished hardwood floors, original woodwork, 3-piece kitchen with wood cabinets, central thermostat controlled baseboard electric heating systems, newer E-rated windows, and laundry. Unit 2 is rented for $1,000 per month.Unit 3 has originally refurbished hardwood floors, original woodwork, 3-piece kitchen with wood cabinets, central thermostat controlled baseboard electric heating systems, and newer E-rated windows. Unit 3 is rented for $975 per month.The utilities are completely separated and the building has newer 200 AMP service, newer fire alarm system, newer sewer and newer water lines. Water is paid for by the owner. The property was also recently upgraded with Solar Panels that were designed to produce the same Kilowatt usage as the entire common area (increases the NOI of the property). The panels are less than a year old (therefore, can be depreciated). Solar also creates SREC credits that can be sold and the City of Philadelphia pays $.10 per Kilowatt created through their reimbursement program, driving more revenue for the property. The property is conveniently located within easy walking distance of the hospitals and schools of University City. There area is also loaded with restaurants and coffee shops. There are numerous public transportation options within 3-4 blocks and there is ample parking in the area. The Walk Score? and bike scores are 92 and 97, respectively. With a positive cash flow and fully renovated features, this property is an investor's dream.Listing agent has an ownership stake in the property.* Virtual Tour: https://www.youtube.com/watch?v=VL9OTAh6vEA&t=16s*ALL PICTURES SHOW THE UNITS VACANT, RIGHT AFTER RENOVATION PRIOR TO OCCUPANCY.*

Details

MLS#PAPH887226
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1915
Days On Site104

Features

SQ Feet2,538
Units3
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Area Information
StatePA
CityPHILADELPHIA
Zip Code19143
Area19143 (19143)
Listing VS Median (in 19143)
Price:
$462,500
low | high
Med:
$120,000
100% of Average
SqFt:
2,538
low | high
Med:
1,032
100% of Average
$ / SqFt:
$182
low | high
Med:
$116
86.191074795726% of Average
On Site:
104
low | high
Med:
25
100% of Average
Listing Updated: 08/06/2020
Ryan B Spak LogoMLS Number: PAPH887226
Listing Provided By:
Ryan B Spak  of  Starkman UPA Realtors LLC