707 Prospect Avenue

Description

BACK ON MARKET (Buyer financing fell through) // INVESTOR ALERT! Recently Renovated 4 unit property located less than 4 miles from Philadelphia Airport. The current owner (purchased in 2016) has done extensive renovations and currently operates the property as an Airbnb - see attached document for an itemized list of all furnishings (prefer to sell furnished) and rents. If operated as a Multifamily, market rents for the units should total $5,000-$5,500/month based on rents of similar size units. Rental Comps (attached document) - 1 bed / 1 bath units (within 1 mile) are renting at $1,000-$1,400/month. All Gas/Electric meters are separate. This MOVE IN READY home has tons of potential! UPGRADES include Central A/C throughout (split system in two units), Keyless entry in all units, dishwashers in all units, Laundry in four units (one unit shares with first floor unit), security system and exterior cameras. The unit mix consists of Three 1 bedroom / 1 bath units and a studio apartment. The first floor has TWO (2) one bedroom (13x12) /one full bath units and each have an eat in kitchen and a separate living room space (17x13). One of the first floor units (1F) features a gas fireplace (not currently connected). The second floor has a one bedroom (15x11) / one bathroom unit with a large living room (19x15) and a studio apartment (bedroom/living room combo). Exit outside to a lovely landscaped backyard and designated parking for four cars. The property includes an additional garage in the rear of the property (for storage). Located in a great neighborhood with ample street parking. This home is also located nearby Prospect Park+GGs famous Park Square which is a beautiful park with a playground. The park also holds summer community events such as free concerts and movie nights along with local vendors and food trucks. Convenient to interstate 95, and the Philadelphia airport, also a short walk to Prospect Park train station. Don't miss out, make your appointment today!