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Keith Adams

707 N 40TH ST

$1,015,000 707 N 40th St, Philadelphia, PA 19104
OPPORTUNITY knocks! Own a fully occupied 7-unit building in one of Philadelphia's Opportunity Zones. This 2-year young building sits on a 17x105 lot, has 7-8 years left on the tax abatement and brings in around $86,100 in gross annual rent. Unit #1 features a 2 bed, 1 bath unit for $1000/month. Unit #2 features a 1 bed, 1 bath unit for $850/month. Unit #3 features a 2 bed, 1 bath unit for $1100/month. Unit #4 features a 1 bed, 1 bath unit for $900/month. Unit #5 features a 2 bed, 1 bath unit for $1150/month. Unit #6 features a 1 bed, 1 bath unit for $1050/month. Unit #7 features a 2 bed, 1 bath unit for $1125/month. The owners collect additional income from the common area washers and dryers. All of the units have open kitchens with white cabinets, granite countertops and stainless steel appliances, large bathrooms, high ceilings, intercoms, lots of natural sunlight and a gated private entry. There are multiple outdoor spaces including two roof decks with city skyline views and a patio. Extremely low taxes for the next 7 to 8 years! Cap rate of 6.75%. 707 N 40th St is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood.
  • Sold
    Status
  • 7
    Bedrooms
  • 2019
    Year Built
  • 5,850 Sq.Ft.
    Living Area

Features & Amenities

Area & Lot

  • Status: Sold
  • Living Space: 5,850 Sq.Ft.
  • Lot Size: 1,785 Sq.Ft.
  • MLS® ID: PAPH2018586
  • Type: Residential
  • Year Built: 2019
  • Architecture Styles: Other
  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA

Interior

  • Total Bedrooms: 7
  • Appliances: Electric Water Heater

Exterior & Building

  • Water Source: Public
  • Roof: Fiberglass
  • Parking: On Street
  • Heat Type: Electric
  • Sewer: Public Sewer

Financial

  • Sales Price: $1,015,000
  • Real Estate Tax: $252/yr

707 N 40TH ST

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