Philadelphia, PA 19139,332 N 62ND ST
Philadelphia, PA 19139,332 N 62ND ST
Philadelphia, PA 19139,332 N 62ND ST
$400,000
Est. payment /mo
$399,900
Est.Price: ?

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1,880 SqFt
SOLD DATE : 05/31/2024

Key Details

Sold Price $400,000

Property Type Multi-Family

Sub Type Interior Row/Townhouse

Listing Status Sold

Purchase Type For Sale

Square Footage 1,880 sqft

Price per Sqft $212

MLS Listing ID PAPH2338956

Sold Date 05/31/24

Style AirLite

Abv Grd Liv Area 1,880

Originating Board BRIGHT

Year Built 1915

Annual Tax Amount $1,947

Tax Year 2023

Lot Size 1,911 Sqft

Acres 0.04

Lot Dimensions 16.00 x 122.00

Property Description

INVESTORS BEHOLD!

332 N 62nd Street is a golden opportunity for savvy investors seeking a lucrative addition to their portfolio. This property is also perfect for the beginning investor looking for their first investment. The property is part of a six unit portfolio. Here's what makes this investment stand out:

**Income Potential:**
This multi-unit property boasts 4 spacious units, each offering comfortable living spaces and modern amenities. Whether you're targeting long-term renters or looking to live in one of the units and rent the others, the income potential is substantial. With competitive rental rates in the area and increasing demand for housing, you can expect a consistent cash flow and attractive returns on your investment.

**Value-Add Opportunity:**
While the property is already generating income, there's ample room for value enhancement. With a strategic renovation or upgrade plan, you can maximize rental income and increase property value. Whether it's modernizing interiors, enhancing curb appeal, or adding amenities, the potential for appreciation is significant.
The property does already have a State of the Art Security System with electronic entry and a full sprinkled interior with an up to date fire alarm system.

**Prime Location:**
Situated in the vibrant and rapidly developing Haddington neighborhood of Philadelphia, this property is strategically positioned to capitalize on the growth of West Philadelphia. It is a short walk to the Market/Frankford 63rd street station. The #30 & #31 buses are steps away. There is easy access to major transportation routes, as well as, all of the renowned West Philadelphia universities, employment hubs, and a plethora of amenities. This location is highly desirable for tenants seeking convenience and connectivity.
Very close to Haddington Woods and Cobbs Creek Park. Wonderful restaurants are within walking distance: Jim’s Steaks West, 5-Star Jamaican, Morronne’s Water Ice etc.

**Stable Market Dynamics:**
West Philadelphia's real estate market has demonstrated resilience and stability, making it an ideal environment for investors seeking long-term growth. With a diverse economy, a thriving job market, and a steady influx of residents, the demand for rental properties remains robust.

**Investment Highlights:**
- Multi-unit property with 4 units
- Prime location in the heart of Philadelphia, PA
- Strong rental demand and competitive rental rates
- Value-add opportunities for increased cash flow and appreciation
- Stable and growing real estate market with favorable investment conditions

332 N 62nd Street offers an exceptional blend of potential and profitability.

Location

State PA

County Philadelphia

Area 19139 (19139)

Zoning RM1

Rooms

Basement Improved

Interior

Hot Water Natural Gas

Cooling Central A/C

Fireplace N

Heat Source Natural Gas

Exterior

Waterfront N

Water Access N

Accessibility None

Parking Type On Street

Garage N

Building

Foundation Other

Sewer Public Sewer

Water Public

Architectural Style AirLite

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 341228600

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Conventional, FHA, Cash, VA

Listing Terms Conventional, FHA, Cash, VA

Financing Conventional,FHA,Cash,VA

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Piruz Partow • Select Commercial Advisors
Bought with Piruz Partow • Select Commercial Advisors

GET MORE INFORMATION

Karen Wilkinson

+1(732) 599-1938

Agent | License ID: 0343436

Agent License ID: 0343436

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