Property Description
You really can't miss this value added 3-unit investment that not only makes a strong statement on the street, but is a strong investment too! Not only a bold facade, but a bold 8% potential cap rate make this solid triplex an ideal mix of immediate income and plenty of opportunity to be realized. The fully renovated rear one-bedroom unit is tenanted, while the front studio and second-floor one-bedroom are vacant and ready for updates, allowing you to set market rents and select tenants. Recent improvements include a complete frame-in renovation of the rear unit, as well as new furnace and hot water tank (2021), updated wiring with 200-amp breaker panel and some exterior brick repointing with the front and side painted (2022), rear stairs replaced (2019),. Two rear parking spaces on a concrete driveway with paved alley access, plus proximity to downtown and public transit routes makes it a very attractive prospect to tenants. A practical & profitable opportunity for investors to build long-term equity in an improving Lansdale neighbourhood. (id:63357)
Property Details
- Property Type
- Detached
- Bedrooms
- 2
- Bathrooms
- 3
- Living Area
- 1,025 sqft
- Above Grade Area
- 1,025 sqft
- Year Built
- 1891
- Stories
- 2.0
- Status
- Active
Location & Neighborhood
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