This triplex in Philadelphia's Mantua section offers a prime opportunity for investors looking to renovate and potentially expand a multi-unit property. The RM1 zoning allows for conversion into up to four units, providing flexibility for various investment strategies.The property's location in Mantua, an area experiencing a surge in new construction, suggests potential for neighborhood appreciation. This trend could positively impact future property values and rental demand.Currently configured as a triplex with a mix of one and two-bedroom units, the property requires a comprehensive renovation to reach its full potential and command market-rate rents. With a projected ARV of $750,000 to $800,000 post-renovation, this property presents an attractive opportunity for value-add investors in a developing Philadelphia neighborhood.
Listed by:
Realty ONE Group Focus
Source:
BRIGHT MLS
Date | Days Ago | Event | New Price |
---|---|---|---|
Aug 2, 2024 | 2 mos ago | Price decreased30,000 (11%) | $245,000 |
May 23, 2024 | 4 mos ago | Price decreased65,000 (19%) | $275,000 |
Nov 22, 2023 | 10 mos ago | Price decreased10,000 (3%) | $340,000 |
Jul 26, 2023 | 1 yr ago | New on market | $350,000 |