waw-Philadelphia-property-april15-2Did you know the city of brotherly love has the perfect combination of cheese steaks and cash flow? It’s true! 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.

And yes. 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.

Simply put, Philly is opportunity for an investor who wants a hot deal at a hot price. Check out this multi-family residential we found with one year rental guarantee, one year maintenance guarantee, tenants in place, and more!

Multi-Family Residential

Location: Philadelphia,PA

Built In: 1940 (fully renovated with a tenant in place as condition of closing)

Purchase price: $239,650 (not a foreclosure, normal sale)

Property info: 5 bedrooms, 5 bathrooms, 2,790 square feet, 2 stories

Income

Monthly rent collected: $3100

Expenses

Monthly expenses (conservatively estimated)

Property taxes: $140

Insurance: $200

Property management fees: $248

Vacancy (7%): $217

Repairs (5%): $155

Total Monthly Expenses- $960

Net Income = Income – Expenses = $2,140

Advanced Numbers

Cap Rate =10.72%

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!

Leave a Comment

Your message.

Who are you?