707 N 40TH Street
707 N 40TH Street Philadelphia, Pennsylvania 19104 United States

$1,090,000
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Compass Pennsylvania, LLC

Listing Courtesy of Compass Pennsylvania, LLC
$1,090,000
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.04 Acres
Exterior
Commercial
Property type
2019
Year Built
PAPH2012426
Web Id
PAPH2012426
MLS ID
Philadelphia City
School District
14
days ago

About 707 N 40TH Street

OPPORTUNITY knocks! Own a fully occupied 7-unit building in one of Philadelphia's Opportunity Zones. This 2-year young building sits on a 17x105 lot, has 7-8 years left on the tax abatement and brings in around $86,100 in gross annual rent. Unit #1 features a 2 bed, 1 bath unit for $1000/month. Unit #2 features a 1 bed, 1 bath unit for $850/month. Unit #3 features a 2 bed, 1 bath unit for $1100/month. Unit #4 features a 1 bed, 1 bath unit for $900/month. Unit #5 features a 2 bed, 1 bath unit for $1150/month. Unit #6 features a 1 bed, 1 bath unit for $1050/month. Unit #7 features a 2 bed, 1 bath unit for $1125/month. The owners collect additional income from the common area washers and dryers. All of the units have open kitchens with white cabinets, granite countertops and stainless steel appliances, large bathrooms, high ceilings, intercoms, lots of natural sunlight and a gated private entry. There are multiple outdoor spaces including two roof decks with city skyline views and a patio. Extremely low taxes for the next 7 to 8 years! Cap rate of 6.75%. 707 N 40th St is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood.

Listing Courtesy of Compass Pennsylvania, LLC

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features

cooling
Electric

PROPERTY INFORMATION

Cooling
Ductless/Mini-Split
Heating
Wall Unit
Sewer
Public Sewer

EXTERIOR

Roofing
Fiberglass

ADDITIONAL INFORMATION

Body of Water
Public
Listing Courtesy of Compass Pennsylvania, LLC

Compass Pennsylvania, LLC

Listing Courtesy of Compass Pennsylvania, LLC
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