Description
Nestled at 833 N 63rd Street, mere minutes from the bustling City Line Avenue and conveniently close to various public transportation options, this quadplex presents a rare opportunity for discerning investors seeking both immediate returns and long-term potential. Renovated in 2017, each of the four distinct apartments exudes modern charm and timeless appeal, boasting elegant wood floors, exposed brick accents, and gleaming stainless steel appliances.
The property's strategic location is further complemented by its proximity to a burgeoning development landscape, with a brand-new six-unit apartment building under construction adjacent to it, promising favorable future comparables.
**Unit Configurations and Rental Income:**
- **Apartment 1:** A spacious 2-bedroom, 2-bathroom sanctuary, commanding $1800 per month in rent.
- **Apartment 2:** Featuring 2 bedrooms and 1 bathroom, this unit offers comfortable living at $1500 monthly.
- **Apartment 3:** Another inviting 2-bedroom, 2-bathroom retreat, generating $1500 in monthly rental income.
- **Apartment 4:** Ideal for individuals or couples, this 1-bedroom, 1-bathroom haven commands $1200 per month.
**Operating Costs:**
- **PECO Common Area:** A reasonable $290 ensures efficient electricity distribution across common spaces.
- **Philadelphia Water Department:** $350
- **Landscaping:** With a monthly upkeep cost of $120 (May-November), the property's exterior maintains its inviting allure.
- **HVAC Maintenance:** Scheduled preventative maintenance, budgeted at $1200 annually, ensures optimal functionality of heating, ventilation, and air conditioning systems.
- **Insurance:** Currently estimated at $4052, adjustments are advised to optimize expenses and enhance profitability.
- **Taxes:** Set at $5599
This meticulously maintained quadplex not only promises immediate returns through its robust rental income but also stands poised to capitalize on the area's burgeoning development, making it an irresistible prospect for investors seeking both stability and growth in Philadelphia's dynamic real estate market.
