Looking for empty lots in Philadelphia? Call South Philly Vinny 215-360-3434.
THREE PARCEL PACKAGE - TOTALING 11 UNITS BY RIGHT - TOTAL PACKAGE COST: $205,000
The package includes two entitled parcels and a by-right quadruplex
$219,024 Potential Annual Gross Rent - Section 8 Rentals
Parcel #1
1820 W Venango St - asking $85,000
-Corner lot | 2,080 square feet | 16' x 130'
-This lot has an approved variance for a 3 story 4 unit residential building
-Four 900+ square foot bi-level and single floor units
-Growing rents in the area | Section 8 rental income for a two bedroom: $1,476 per month
-$70,848 Gross Rent | 9.4% Cap Rate | factored from Section 8 2024 Rent Schedule
Proforma - click here (proformas based on projected market rents, not actual)
-Proposed Plans - click here
Parcel #2
840 E Chelten Ave - asking $45,000
-Germantown area | Interior Lot | 1,778 square feet | 16' x 111'
-By right zoning for a quadruplex residential building
-Growing rents in the area | Section 8 rental income for a two bedroom: $1,764 per month
-$84,672 Gross Rent | 14.2% Cap Rate | factored from Section 8 2024 Rent Schedule
Proforma - click here (proformas based on projected market rents, not actual)
Parcel #3
4554 Wayne Ave - asking $75,000
-Germantown area | Interior Lot | 1,719 square feet | 16' x 107'
-Approved variance for a three story, triplex residential building.
-Growing rents in the area | Section 8 rental income for a two bedroom: $1,764 per month
-$63,504 Gross Rent | 10.4% Cap Rate | factored from Section 8 2024 Rent Schedule
Proforma - click here (proformas based on projected market rents, not actual)
Call 215-360-3434 with any questions.