257 Tampa StPhiladelphia, PA 19134

Property Details for 257 Tampa St

Year built

1920

Property size (Sq ft)

1,652 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of two income-producing properties located in Philadelphia's Kensington neighborhood at 257 E Elkhart St and 3402 Tampa St, zip code 19134. The portfolio consists of two buildings, each two stories, totaling 1,652 square feet of net rentable space. Built in 1920, these properties are classified as Class C multifamily and currently boast 100% occupancy with month-to-month tenants. The combined annual net operating income (NOI) is $18,600, yielding a compelling 10.34% cap rate. The asking price for this turnkey investment is $179,800. One unit features 2 bedrooms and 1 bathroom (728 sq ft), while the other offers 3 bedrooms and 1 bathroom (924 sq ft). Tenants are responsible for all utilities, minimizing owner expenses. The properties are situated in a rapidly developing area, close to public transportation, major highways (I-95 and Aramingo Ave), and various amenities. This presents a significant value-add opportunity due to below-market rents, allowing for potential rent increases or property repositioning. The properties are zoned RSA5 and are sold AS-IS. This portfolio offers immediate cash flow and strong potential for future appreciation in a vibrant, up-and-coming Philadelphia neighborhood.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9962

Longitude

-75.1261

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].