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Key Details
Sold Price $255,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 1,564 sqft
Price per Sqft $163
Subdivision Temple University
MLS Listing ID PAPH2294970
Sold Date 02/23/24
Style Traditional
Abv Grd Liv Area 1,564
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $2,330
Tax Year 2023
Lot Size 960 Sqft
Acres 0.02
Lot Dimensions 16.00 x 60.00
Property Description
Introducing 1903 W Montgomery Ave, a fantastic triplex that presents an excellent opportunity for new investors. This property, in its current state, is already highly desirable and rents easily, making it a reliable source of income from the start. However, what sets this triplex apart is its untapped potential for renovation and improved utilization, offering even greater returns for savvy investors.
Located near Temple University, this triplex enjoys a prime location in a vibrant and sought-after neighborhood. The area's popularity ensures a steady demand for housing, making it easy to find tenants and keep the units occupied throughout the year. As a new investor, you can dive right into the rental market with confidence, knowing that this property has a proven track record of attracting tenants.
While the triplex is already a lucrative investment opportunity, there is significant room for improvement and expansion. With a discerning eye and a touch of creativity, you can unlock the property's full potential and maximize its value. Renovating and optimizing the units can lead to increased rental income and attract a broader range of tenants, including those willing to pay a premium for modern, updated living spaces.
By making strategic renovations, such as updating appliances, refreshing the interior finishes, and reconfiguring the floor plans, you can transform this triplex into a contemporary oasis. The result will be enhanced tenant satisfaction, longer lease agreements, and the potential for higher rental rates.
Moreover, the surrounding neighborhood is ripe with opportunities for growth and development. As new construction projects continue to flourish in the area, investing in 1903 W Montgomery Ave becomes even more enticing. You can leverage this ongoing transformation to increase the property's value and reap the benefits of an expanding real estate market.
Buyer is responsible for due-diligence. Property sold as-is
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RSA5
Rooms
Basement Unfinished
Interior
Hot Water Other
Heating Other
Cooling Other
Fireplace N
Heat Source Other
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 321119500
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Alyssa Vargas • KW Empower