philadelphia-triplexOk. Let’s get real. We’ve gained about 100 pounds just because we love investing in Philadelphia and those darn cheese steaks so much. Yikes! Maybe our next post will be about kale and smoothies (don’t worry – it won’t be!). We are traveling back to Philly today – this time with an amazing turnkey triplex with an amazingly low buy-in price. Be prepared for sticker shock (in a good way).

We know. We keep telling you – Philadelphia is an investor’s dream. Jobs. Colleges. Hospitals. Tenants. Cheese steaks.
We realize we’re getting boring. What are some other compelling reasons to invest in Philadelphia turnkeys? For one, some folks are speculating that Philadelphia is poised to become the next Brooklyn. It’s got a strong artsy vibe and its proximity to both NYC and DC make it an ideal location for numerous reasons. We also dug up this recent Huffington Post article listing out why our beloved Philly is the most underrated city in America right now….

Now that we’ve talked about investing in Philadelphia, let’s talk about the actual property we found for you today. The buy-in price is amazing. It’s fully redeveloped and backed by all but unheard of guarantees in this day and age. It’s a triplex – which means you only need to worry about ONE property while adding three additional streams of revenue to your bank account. All of the costs below are conservatively estimated – so that you can be informed, plan for the unexpected and still keep that cash-flow coming. Check out the 411 on today’s Philadelphia turnkey triplex!

Location: Philadelphia,PA.

Built In: 1926 (fully redeveloped)

Purchase price: $133,500 (not a foreclosure, normal sale plus tenants in place as a condition of closing!)

Property info: 3 bedrooms, 3 bathrooms, 2,790  square feet

Income

Monthly rent collected: $1,950

Expenses

Monthly expenses

Property taxes: $342

Insurance: $80

Property management fees: $195

Monthly expenses (conservatively estimated)

Vacancy (7%): $137

Repairs (5%): $98

Total Monthly Expenses- $614

Net Income = Income – Expenses = $1,336 !!!! 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 12.01%

Cash-on-cash return =

Depends on your leveraging.

Special Terms

  • 1 Year Rental Guarantee:
    Property manager will pay you the full gross monthly revenue in the event that any of your tenants default during your first year of ownership
  • 1 Year Maintenance Guarantee:
    Property manager will cover all labor and materials for any maintenance required during your first year of ownership
  • 15-Year Roof Warranty:
    All properties come with a 15-year roof warranty

If you are interested in this property or seeing others like it, contact Ali at ali@hipsterinvestments.com. Take the plunge: you won’t regret it!

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