Details

Property Description

1412 Windrim Avenue, a 9-unit multifamily investment opportunity in Philadelphia. Offered at $975, 000, the property totals approximately 6, 750 rentable square feet and features four one-bedroom / one-bathroom units and five two-bedroom / one-bathroom units, with each residence averaging approximately 750 square feet. The property generates $119, 988 in current gross potential rent, with average rents of approximately $1, 111 per unit per month. At an asking price of $975, 000, the offering represents an attractive basis of approximately $108, 333 per unit and $144.44 per square foot. Current operations generate approximately $69, 547 in Net Operating Income, equating to a 7.13% in-place cap rate. Year 1 underwriting projects NOI increasing to approximately $74, 961, resulting in a 7.69% cap rate, providing investors with an opportunity to acquire an income-producing multifamily asset with a strong going-in yield and continued cash-flow growth.