waw-philadelphia-march15Yes. We are still eating and loving those famous Philly cheese steaks. The black and white cookies are pretty good – and the liberty bell – well it’s the Liberty Bell, after all. Beyond the basic tourist trappings, and they’re touristy for good reason, Philadelphia has a lot to offer the savvy investor.

What, exactly, is so wonderful about this city of brotherly love? For one, it’s the spirit of growth – big-time growth. The market here is on an upswing – but there’s still room to get in while the going’s hot. There are tons of job opportunities. Colleges. Employers. Ready renters. Simply put, Philly is opportunity for an investor who wants a hot deal at a hot price. We found a fourplex – a rarity in the investing world – but it’s going to go fast. If you want in, email Ali ASAP. The contact info is at the bottom! Let’s take a closer look at this rare find for your portfolio…

Location: Philadelphia,PA

Built In: 1935 (fully renovated with a tenant in place as condition of closing)

Purchase price: $165,000 (not a foreclosure, normal sale)

Property info: 4 bedroom, 4 bathroom, 1,604 square feet, 2 stories

Income

Monthly rent collected: $2,400

Expenses

Monthly expenses (conservatively estimated)

Property taxes: $51

Insurance: $75

Property management fees: $192

Vacancy (7%): $168

Repairs (5%): $120

Total Monthly Expenses- $606

Net Income = Income – Expenses = $1,794

Advanced Numbers

Cap Rate =13.05%

Cash-on-cash return =

Depends on your leveraging

Special Terms:

  • 1 Year Rental Guarantee: Property manager will pay you the full gross monthly rent 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 amazing property – or seeing others like it, just contact Melissa at melissa@hipsterinvestments.com – we’ll get right back to you!

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