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2050 Reed St

Philadelphia PA 19146

0.02 ac.
Multi-Family
Currently for sale - view listing

Overview

Looking for a hot deal in a high interest rate environment? This duplex is being sold fully furnished and could be yours! The sellers lose & and the buyers gain! truly an amazing turn key investment property that has major upside and will not last long! Appraised back in 2020 for $400,000, this seller is motivated! Located in highly desirable Point Breeze- with a legal variance allowing this property to be a duplex makes this property in this area extremely rare! this could be the perfect opportunity to improve your investor's portfolio or for an owner occupant who would like to make rental income. The options are endless! Upstairs unit projected rent is $1,550, and the downstairs unit projected rent is $1,200. (priced to rent but can charge an additional 5-15% more) making this AT LEAST a 7% cap rate!This could also make an amazing airbnb as well, as this multi-family produced approximately $71,000 annually since 2019, making this investment an astonishing 13% cap rate if you decide to make this a short-term rental!The recently updated first floor unit has one true bedroom and the second room has the option to be used as an office, second living space or bedroom. There is plenty of space for entertaining with friends & family in the main living/dining area, that features an open floor plan & eat-in kitchen with granite countertops, stainless steel appliances and plenty of cabinets for storage space. The first floor also has access to the basement which provides ample space for extra storage. Upstairs, the second floor unit offers two true bedrooms and one bathroom. Similar to the first floor unit, this unit offers an open living and dining area with an updated kitchen and three piece bath. This area is booming with new development, located within walking distance to center city, hawthorn, public transportation, shopping and dining. Schedule your tour today to recognize what this home run of a deal really has to offer!

Features

0.02 ac. lot size
Multi-Family

Property history for 2050 Reed St

2018
Sold
$305,000
14 Dec 2018 by Frank Altamuro, of Coldwell Banker Realty
2016
Sold
$125,000
10 Nov 2016 by Frank Altamuro, of Coldwell Banker Preferred - Old City
2016
Sold
$125,000
08 Nov 2016 by Mark Turner

Happy sellers in Philadelphia

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Local market activity for multi families in Philadelphia

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