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1329 W RUSCOMB ST, Philadelphia, Pennsylvania

$110,000Active

1329 W RUSCOMB ST, Philadelphia, Pennsylvania 19141
Keller Williams Real Estate Tri-County - MLS® ID: 7027447

Property Details

1329 W RUSCOMB ST, Philadelphia, Pennsylvania 19141 - 1329 West Ruscomb Street Philadelphia PA 19141, is an apartment building located in the Logan neighborhood in Philadelphia. This building is currently zoned for an quadraplex (4 Apartments) . The building is currently not being used to it's full potential. This building only has two massive 4 bedroom apartments one on each floor. Each apartment is bringing in $825 a piece and currently bringing in a yearly income of 19,800.This building has the potential for 4 two bedroom apartments each would bring in 725 each a month, which in turn would produce a yearly income of 33600.00. Each apartment features hardwood floors throughout very spacious living room & dining room space. Accompanied by very large and newly renovated bedrooms. The asking price for this property is $125,000. We also have the building right next to it 1327 West Ruscomb Street Philadelphia Pa. Being in as-is condition in most cases Current Gross Scheduled Income (GSI) (825x2)*12=19800.00 After Repairs Gross Scheduled Income (GSI) (725*4)*12=34,800.00 Current Gross Operation Income (825*2)*12=19800.00 Current Operating Expenses 1264(taxes)+2500(water bill Per Year)+ 300(trash pick up)=4064 After Repairs Operating Expenses 1264(taxes)+5200(water bill Per Year)+ 300(trash pick up)=6764 Current Net Operating Income (NOI) 19800.00- 4064.00=15736.00 After Repairs Net Operating Income (NOI) 348000- 6764=28036.00 Current Cap rate 15736.00/140,000.00=11.24% After Repairs Cap Rate 28036.00/140,000.00= 20.03% Current Market Value (Using a cap rate of 10%) 15736.00/.1=157360.00 After Repair Market Value (Using A cap Rate of 10%) 28036/.1=280360.00

Amenities

  • Zip19141
  • CountyPhiladelphia
  • StatusActive
  • Purchase TypeActive
  • Property typeMulti-Family
  • Zoning typeRM1
  • School districtPhiladelphia
  • Year built1935
  • Lot size0.05
  • SewerPublic Sewer
  • HeatingElectric
  • CoolingNone
  • Tax amount$1,263.00
  • Tax year2017
  • Office IDKELWLMPH
  • Agent ID60056691
  • Agent nameKeyon Whiting
  • MLS® ID7027447

Broker: Keller Williams Real Estate Tri-County

Listing Courtesy of Keller Williams Real Estate Tri-County

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