For Sale
$875,000

261 High StPhiladelphia, PA 19144

Six-unit Philadelphia property, 8% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a six-unit multifamily property in Philadelphia's vibrant Germantown neighborhood. Located at 261 High Street, this 7,300-square-foot property comprises two detached buildings, offering significant potential. The main building, a stunning Victorian home, features a breathtaking three-bedroom, bi-level unit with preserved original woodwork and flooring. This unit could be converted into an Airbnb or owner-occupied housing. Five units are within the Victorian, and a sixth, also a three-bedroom unit, is located in a separate detached building behind the main house. Both buildings boast ample parking, including two detached garages currently rented separately. Built in 1900 and 1960 with renovations completed at various times, the property sits on a desirable lot with excellent curb appeal. The property's prime location offers easy access to public transportation, schools, and shopping, ensuring a strong tenant base. The asking price is $875,000, representing a price per unit of $145,833.33 and an 8% capitalization rate. The permitted zoning is multi-unit, allowing for flexibility and potential future development. This property offers a blend of historic charm and modern convenience, making it an ideal investment for those seeking strong returns and appreciation potential in a thriving Philadelphia neighborhood.

Highlights

  • $875,000 asking price for a six-unit multifamily apartment building.
  • 7,300 square feet of net rentable space.
  • 8.00% cap rate.
  • Six units in two buildings, two stories each.
  • Built in 1900 and 1960, with numerous renovations.
  • Located at 261 High St, Philadelphia, PA 19144, in the Germantown neighborhood.

Property Details for 261 High St

Property type
Apartment buildings
Buildings
2
Stories
2
Units
6

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.042825579271
Longitude
-75.1741932177
261 High St, Philadelphia, Pennsylvania

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261 High St
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