Description
Come check out 3110 Frankford Ave; a 4 unit cash flowing quadplex on Frankford avenue. This is a great investment opportunity in a growing area. Located a few blocks outside the Lehigh Ave corridor in Port Richmond (19134). In walking proximity to grocery, retail, restaurants, bars, and public transportation. This is a value add investment opportunity with increases in rents. Two of the units have been recently rehabbed, 1F, which rents for $975/month and 2F, which is being marketed for $850/month (soon to be rented). The other two units present an opportunity to increase rental income by $750-$1,000 monthly. This investment is currently being offered at an amazing capitalization rate for the neighborhood and rental history. This building offers the opportunity for a 10% cash on cash return. In the current market this would be a great inflation hedge. 3 of the 4 units are occupied bringing in a total cash flow of $2175 / month. Once the 4th unit is rented, total cash flow will be $3,025 / month. Projected monthly cash flow is $3575 / month with updates to 2F & 2R.
Location
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Courtesy of: Simple Choice Realty 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: 6th July, 2022 12:14 PM (UTC)
