7 - Unit Apartment with easy access to transit!

[Kevin Branin]

108 Morton Avenue, Ridley Park, PA

Cash flowing Investment Property! Half a block for the train to Philadelphia. One block to Taylor Hospital. Minutes to the airport and I-95. Recently renovated colonial revival 7-unit apartment building.

This is a great investment opportunity. The current owner has added a 5 car parking lot and coin-operated laundry machines. There is room for adding storage lockers in the basement to generate additional income. Replaced 2 of 3 cast iron plumbing stacks with modern PVC (3rd plumbing stack was replaced by previous owner). 4 units have been completely rewired.

Parking Lot added Common area updated Your tenants will LOVE the granite counter tops and stainless steel appliances in the 4 units that were renovated this year. All units have gas stoves that are a luxury and each one is individually metered. There is an electrical meter for each unit and one for the common area electric.

A recently upgraded condensing boiler provides heat and domestic hot water to the building. Landlord pays heat, hot water, and common electric.

ASKING $650k

Income

Rental Income  $6300

Laundry Revenue  $125

Parking Fees  $250

Total Income $6,675 / mo

Expenses

Utilities  $582

Taxes  $988

Insurance  $210

Maintenance & Repairs  $190

Total Expenses  $1970 / mo

NET INCOME  (Less 5% Vacancy Loss)  $4,390 / mo