$ 550,000
-
$550,000
Price -
8
Bed -
8
Bath -
3,100
SqFt
NEW! Buy and sell safely with virtual options - Learn More
About the Listing 55821 - 3312814
Rare opportunity to acquire a fully occupied, turnkey 8-bed / 8-bath legal quad with long-term tenants through 2027, an active rental license, $60,636 in annual gross income, and room for value-add! Located right near the Queen Lane train station, it's under a 25-minute ride straight to Suburban Station in Center City Philadelphia. You're also right by William Penn Charter School, the Germantown Friends School field, and the Thomas Jefferson East Falls campus, with quick access to Route 1 and I-76, and (last but not least) Dunkin. This is a very strong location that attracts high-quality rental demand while still leaving plenty of room for appreciation in the years to come. The property has an excellent setup of 8 beds and 8 full baths, which makes it easy to lease. The basement is a 2-bed / 2-bath with luxury renovations, stainless steel appliances, a bar area, two fireplaces, beautiful bathrooms, and a washer and dryer. Unit 1 is a large, updated 3-bed / 3-bath with backyard access and washer/dryer. Unit 2F is a spacious 1 bed / 1 bath with a gorgeous kitchen and dining area and a stone accent wall, and Unit 2R is a cozy 2 bed / 2 bath, also with backyard access. Both second-floor units do not have washer/dryer. Current tenants have been in place since 2023/2024, and they're respectful, caring, and would like to stay. In Philadelphia, great tenants are paramount, and this property has them. Tenants have separate electric meters. The owner pays gas heating ($2,160/yr) and water ($2,040/yr), and insurance of $3,500/yr. Current rents are as follows: the basement (2 bed / 2 bath) is $1,690/mo with a lease ending 06/30/2027; Unit 1 (3 bed / 3 bath) is $1,353/mo ending 09/30/2027; Unit 2F (1 bed / 1 bath) is $1045/mo ending 06/30/2027.; and Unit 2R (2 bed / 2 bath) is $965/mo ending 11/30/2026 (potentially renewing). The property currently carries a homestead exemption with taxes just under $5,000; without it, taxes would be $6,100. Using the $6,100 figure, a 5% maintenance allowance, 3% vacancy, a $500 trash fee, $200 for rental license, and $300 for snow removal and utility expenses, the total expenses come to $19,965; NOI is $40,985, for a 7.5% cap rate. On turnover, the new owner has room to add value across three units by updating kitchens, adding washers and dryers, and making other improvements to push NOI and the cap rate well past 9%. Photos of Unit 2R coming soon. Inquire about the video walkthrough. Some pictures were AI-decluttered/edited.
Listing Highlights
Status
Active
Days on Site
17
Property Type
Multi-Family
MLS ®
PAPH2634846
Year Built
1900
Total Square Footage
3,100
Lot/Acreage
0.05
County
Philadelphia
Neighborhood
None Available
Area
19144 (19144)
School District
The School District Of Philadelphia
Interior Details
- Bedrooms: 8
- Bathrooms: 8 Full
- Appliances: Stove, Refrigerator, Dishwasher, Washer, Dryer
- Air Cond: Window Unit(s)
- Heating: Radiant
- Fireplaces:
- Floor: Luxury Vinyl Plank
- Above Ground Sq Ft: 3100
- Below Ground Sq Ft: 0
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Zoning: RM1
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $4,928
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
5230 Schuyler St Philadelphia, PA 19144
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
