Description
Welcome to 2149 Catharine St situated on the northeast corner of 22nd and Catharine in the heart of desirable Graduate Hospital neighborhood of Philadelphia. This contemporary mixed-use building built in 2012 has 3 units and $78k of pro forma net operating income. It is marketed at a 7.2% cap rate on in place income. There is substantial upside in the rents. The units are also ready to be condod and can be sold off as the new owner desires.Unit 1, ground floor, rents to Ultimo Coffee month-to-month for $3,000 monthly. Tenant has been there about 5 years and has 5 years remaining.Unit 2, 2nd floor was most recently rented as a studio apartment for $1,450 monthly. Currently vacant, It has a use permit for Professional Office. Previously used for a sales office and barista training center.Unit 3, 3rd and 4th floors, rents for $3,350 monthly as a 2 bed 2 bath residential apartment. It was built for the owner, with floor-to-ceiling windows and custom finishes. It has two roofdecks.Maintenance has been minimal. It is superbly built.A data room is available for a buyer wants to see the leases, operating expenses, etc. Please inquire
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Description
Welcome to 2149 Catharine St situated on the northeast corner of 22nd and Catharine in the heart of desirable Graduate Hospital neighborhood of Philadelphia. This contemporary mixed-use building built in 2012 has 3 units and $78k of pro forma net operating income. It is marketed at a 7.2% cap rate on in place income. There is substantial upside in the rents. The units are also ready to be condod and can be sold off as the new owner desires.Unit 1, ground floor, rents to Ultimo Coffee month-to-month for $3,000 monthly. Tenant has been there about 5 years and has 5 years remaining.Unit 2, 2nd floor was most recently rented as a studio apartment for $1,450 monthly. Currently vacant, It has a use permit for Professional Office. Previously used for a sales office and barista training center.Unit 3, 3rd and 4th floors, rents for $3,350 monthly as a 2 bed 2 bath residential apartment. It was built for the owner, with floor-to-ceiling windows and custom finishes. It has two roofdecks.Maintenance has been minimal. It is superbly built.A data room is available for a buyer wants to see the leases, operating expenses, etc. Please inquire
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