810 N 40 Th St, Home with 0 bedrooms, 1 bathrooms and null parking in PHILADELPHIA PA | Image 1

$168,000

810 N 40 Th St, Philadelphia, PA

Name: 810 N 40 Th St, For Sale in PHILADELPHIA - eXp Commercial Brokerage
Brand: Trinity Property Advisors
SKU: PAPH2480634
Price: 168000 CAD

Real Estate

For Sale

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Key Facts
Description
Map

Key Facts

Type

Levels Residential

Size 1490 sqft

Garage No

Maintenance Fees

Taxes $1,038

Days Active 40

Approx. Age 1920

Avg. Price Per Sqft $112

MLS® Number PAPH2480634

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

This duplex zoned RM1 in Philadelphia's Mantua section offers a prime opportunity for investors looking to renovate and potentially expand a multi-unit property. This is an As-is Sale. Property is in need of a total rehab. Located in the West Philadelphia Promise Zone, which could enhance long-term value appreciation. Mantua is experiencing significant revitalization, driven by its inclusion in the West Philadelphia Promise Zone, a federal initiative aimed at reducing poverty and boosting development. A notable $60-million project by Lomax Real Estate Partners is set to bring a grocery store and medical center nearby, potentially increasing local appeal. This 1, 490-square-foot duplex at 810 N 40th Street, Philadelphia, PA 19104, is situated in the vibrant Mantua neighborhood. Zoned RM1 for multi-unit residential use, it seems well-suited for investors seeking to capitalize on the area’s growth. Multifamily properties in Philadelphia typically achieve cap rates of 5-6%. For a duplex like 810 N 40th Street, assuming a purchase price of $250, 000-$350, 000 (based on area trends and comparable properties), investors could expect competitive returns. 2-bedroom apartments in Mantua generally rent for $1, 800-$2, 000 per month. For a duplex with two 2-bedroom units, this could translate to a total annual rental income of approximately $43, 200-$48, 000. Located near Drexel University and the University of Pennsylvania, Mantua benefits from consistent demand for rental housing from students, faculty, and staff. Drexel’s expansion, including the Schuylkill Yards complex and community programs like the Dornsife Center, further drives interest in the area.Show Description

MLS® NumberPAPH2480634

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1920

Stories

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatNone, Natural Gas

A/CNone

Heating Fuel

Extras

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