$1,475,000
4,089 sq. ft.
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140 W Washington Lane
Philadelphia, PA 19144
Explore This Property
Multi-Family Home
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An Opportunity To Purchase A Turn-Key, Fully Leased, 5 Unit Luxury Apartment Building in The Beautiful Mount Airy Neighborhood Of Nw Philadelphia. Site Consists Of 2 Lots, With An Opportunity To Subdivide and Develop The 2Nd Lot. Site Includes 5 Apartments, 2 Garages, and A Paved Driveway Large Enough For 6 Parking Spots. See Property Prospectus For Revenue and Expenses Data. Units Renovated in 2018. Units Feature Virtual Intercom, Security System, Stainless Steel Appliances, Granite Countertops, Hardwood Floors, Mini Splits For Heating and Cooling, and Outdoor Recreational Areas. Cash-Flowing: Apartments Are Currently Leased Under Market Value For A Total Gross Monthly Income Of $7,100.00. 3 Out Of The 5 Units Are Long-Term Tenants That Have Lease Renewals Approaching. Renewing Leases At Market Rate Could Bring in Potential Revenue Of $7,800.00 Per Month. Going Forward, Owner Could Also Charge For Parking, Storage & Garage Usage - An Extra $675 in Monthly Revenue. Low Maintenance As The Property Was Renovated in 2018. Low Expenses Due To Building Being Fully Electric, Tenants Pay All Utilities, With An Opportunity To Include Common Area Maintenance Charges in Future Leases To Offset Water and Tax Bills. Simple Capital Improvement Plan: Apartments Can Achieve Higher Rents By Implementing A Simple Renovation Plan, Such As Basement Storage Units, Kitchen Backsplashes and Washer/Dryer in Unit. Please See Attached Property Prospectus For Details. Leases Are Available Upon Request.
MLS # PAPH2115616
Courtesy Of Coldwell Banker Old City
215.923.7600
Property Features
- Fireplace Description: Electric
- Garage Count: 2 Car Garage
- Heating Type: Forced Air
- Lot Size: 0.29 Acres
- Sewer: Public
- Style: Other Style
- Water: City Water
Purchase or Lease Opportunities
Traditional Mortgage
30 year mortgage at 3.38% APR
$5,616Your estimated monthly payment
$295,00020% Down Payment
$1,475,000
$1,180,000
$4,755
purchase price
loan amount
property tax (est)
Elementary School
ANNA L LINGELBACH SCHOOL
1 star View School Details
Grades K-8 | Public School
Philadelphia, PA 19144
6340 WAYNE AVE
215-400-3630
6340 WAYNE AVE
215-400-3630
0.3
miles
miles
Total Students 350
Student Teacher Ratio 14:1
Student Teacher Ratio 14:1
1 star View School Details
Middle School
ANNA L LINGELBACH SCHOOL
1 star View School Details
Grades K-8 | Public School
Philadelphia, PA 19144
6340 WAYNE AVE
215-400-3630
6340 WAYNE AVE
215-400-3630
0.3
miles
miles
Total Students 350
Student Teacher Ratio 14:1
Student Teacher Ratio 14:1
1 star View School Details
High School
ROXBOROUGH HIGH SCHOOL
Grades 9-12 | Public School
Philadelphia, PA 19128
6498 RIDGE AVE
215-400-3400
6498 RIDGE AVE
215-400-3400
2.1
miles
miles
Total Students 783
Student Teacher Ratio 10:1
View School Details
Student Teacher Ratio 10:1
Local Area Information for Philadelphia, PA 19144
| Median Age: | 37.4 |
|---|---|
| Married: | 18.6% |
| Number of Households: | 19,581 |
| Households with Children: | 4,141 |
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Occupancy Types
- 0 Vacant
- 0 Owned
- 0 Rented
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Transportation to Work
- 0 Drive
- 0 Public Transportation
- 0 Walk / Bike / Other
- 0 Work at Home
Weather
(in Degrees Fahrenheit)
Data powered by Attom Data Solutions. Copyright© 2022. Information deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.
† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.