PACKAGE DEAL but will consider selling separately.
ZONING: COMMERCIAL (CMX2) mixed-use - will verify permits
Adjacent property is being sold together as a package (reflected in the asking price). Both properties need full rehab; Framing has been started and some rough plumbing; the roof is in good condition
Transforming neighborhood in S. Philly near Sports/Concert stadiums
Fix & Flip Analysis
Rehab Estimate to complete both - 150K (quote by licensed GC in Phila.)
ARV per property - $350k - $400k
Total ARV - $750k - $800k
Expected flip profit: $300k - $350k
Buy and Hold Analysis
Monthly income: $8,200
Gross annual income: $98,400
Acquisition price: $298k
Purchase cap: 32.8%
$78,720 net annual income (after vacancy, property management, insurance, etc.)
All in investment: $450k
Cash on Cash return: 17.5%
Approx. rents per unit: $1214 - $1300
Storefront approx rents: $3000 - $4000
$8k EMD
Let’s Close!