This legally zoned 3-unit corner property is fully renovated to commercial code standards and would make great multi-generational housing. Both the New York Times and the Philadelphia Magazine just published articles about the demand for multi-generational housing. So if you’re looking for something large to live in with friends, family, roommates, lots of people who need work from home space, or studio space, don’t be afraid to try this on for size. With demand for multi-generational housing on the rise, the opportunity to earn appreciation is even more possible than even now, which is 4% per year and in Philadelphia, is historically 6% per year. There are brand new hardwired alarm systems and brand new sprinkler systems. All this and perfectly located in Brewerytown, one of Philadelphia’s fastest growing neighborhoods, chock full of restaurants, shopping and interesting theaters, all within close proximity to Temple University, Fairmount Park, I-76, and various other throughways. This location is a Qualified Opportunity Zone, aka QOZ, which means you may be eligible for capital gain tax incentives. This turn-key opportunity is completely renovated from top to bottom with new appliances, HVAC and a semi-finished basement. Each unit has its own designated locked closet with washer/dryer hookups and separate utilities. There is a covered porch where you and generations of family members can sit and socialize and enjoy the passersby. The first floor unit has 2 bedrooms, 1 bathroom and its own private backyard. The second floor has 1 large bedroom, 1 bathroom and a large living room. The 3rd floor unit has two bedrooms and 1 bathroom. This is also a great opportunity for the first time home buyer, investor or for a 1031 exchange. Have someone else pay your mortgage. Live in one unit and rent the other two or receive rental income from all 3 units. With rents perpetually increasing, you won’t want to miss this opportunity to be on the receiving end of growing opportunities. And don’t forget to ask about Fulton Banks Exception Loan. They can do a 2-4 multi unit owner occupied property with a 90% loan to value or an investment property with an 80% loan to value. They can also do a 15 yr ARM with 6.5% interest compared to Fannie Mae 30 yr rate of 7.625.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 2nd April, 2023 1:49 AM (UTC)