MLS® ID: PAPH852446
709 S AMERICAN STREET
PHILADELPHIA, Pennsylvania, 19147 $699,999
709 South American Street possesses the rare and favorable investor preferred mixture of prime location, size and rental income. As a fully leased triplex in the coveted submarket of Queen Village, this boutique property offers extreme rental upside. Or simply buy and hold and continue collecting cash flow from day one. Each bilevel unit is leased with under market rents. Unit 1 is a 2bd x 1ba leased for 1575 per month located on 1st floor and basement. Unit 2 is a 2bd x 1ba leased for 1575 per month located on 2nd and 3rd floors. Unit 3 is a 1bd x 1ba leased for 1075 per month located on 2nd and 3rd floors. Total annual income is 50,700. Pro forma income is 67,200. The 2bd units should lease for 2000 per month and the 1bd should lease for 1600 per month. Expenses are low. Many original features exist such as hardwood floors and exposed brick. Stately 3 storey appearance boasting curb appeal on a tranquil sunny side street located in the prized Meredith School District, (one of, if not) the most sought after elementary schools in Philadelphia, Pennsylvania. Walk to amenities, shops, restaurants, cafes and bars on SouthStreet, Fabric Row, and in Society Hill. Notable establishments leading Philly~s food scene are within just a few short blocks: Serpico, Famous 4th St Deli, Jims Steaks, Lorenzos Pizza, RoyalSushi and Izakaya, Pizzeria Stella, Southwark, Pietros, Hungry Pidgeon, Bistro La Minette and Little Fish BYOB. Also walkable to Bainbridge Green Park, Washington Square Park and SpruceStreet Harbor Park. All units separately metered. Washer dryer combos in each unit. Basement storage for Unit 1.