427 North Preston Street

Philadelphia PA 19104

2637 sq. ft.

1732 sq. ft.

Duplex

Currently for sale - view listing

Overview

Don?t miss out on this great opportunity in purchasing 427 N Preston Street! It is currently rented where the lease is month to month and the tenant would prefer to stay. The building has been set up as a duplex where the first floor is a 1 bedroom apartment unit with a living room, dining room, and kitchen. The 2nd and 3rd floors are another unit with a separate entrance on the 2nd floor where it can be set up as a 5 bedroom, 2 full bathroom apartment with its own kitchen and living room. The basement can be accessed by either apartment and can be shared. The mechanicals, washer and dryer hook-ups, and separate storage areas are located here in the basement. Fannie Mae just introduced a 5% down payment option for owner occupied buyers who like to buy multi-family properties . So, why not live on the 1st floor and rent out the 5 bedroom apartment upstairs. Or for the investors, why not add this to your investment portfolio by capitalizing the rents on both units. The price is reflected on the current rents and there is excellent income potential. The property is located just a short distance to University of Pennsylvania, Drexel campus, Chop, and Penn Medicine. There are New developments happening all around like 3.0 University Place, which is just an 8 minute walk from the property. Showings are limited to certain days of the week. Buyer is responsible to conduct due diligence on zoning and use. Owner has appealed the taxes for 2023.

Features

2 bedrooms

2637 sq. ft. floor area

1732 sq. ft. lot size

Duplex

Property history for 427 North Preston Street

2021

Sold

$320,000

04 Nov 2021 by Christopher Somers, of Keller Williams Philadelphia

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