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Investment Opportunity: 2346 Montgomery Ave, Philadelphia, PA 19121

Looking to buy, sell, invest or rent in Brewerytown? Please call South Philly Vinny at 215-360-3434

 

More pictures below


2346 W Montgomery Ave, Philadelphia, PA 19121


Fix and Flip Opportunity


Currently Vacant


Up to $54,000 Profit


5 Bedrooms


1.5 Bathrooms


1,580 Sq Ft


Currently zoned RSA5. There is a strong possibility of receiving a variance based on other properties in the area being granted.


ARV: $310,000


CASH PURCHASE

$105,000 purchase price

$4,065 Closing Cost (transfer tax, doc prep, notary fees, etc)

+ $125,000 estimated repair cost

= $234,065 All in cost

$54,000 Profit after realtor commission and transfer tax


HARD MONEY PURCHASE ( assuming 12% interest)

$105,000 purchase (20% down payment $21,000)

Closing cost is $10,450

Total downpayment $31,450

Total Loan amount is $209,000 including rehab draws 

Monthly interest payment $2,090

Carrying Cost (7 months) $14,630

$33,127 Profit


All comps within 20% of the square footage and within 0.25 miles, exactly what an appraiser looks for.


ARV Comps

1735 N Bambrey St - 310k (0.1) 3 bed 2.5 bath - https://matrix.brightmls.com/DE.asp?ID=DE-2129009369722&agt=1

2616 W Montgomery Ave - 280k (0.2) 4 bed 2 bath (was bought for 130k in 2022) - https://matrix.brightmls.com/DE.asp?p=DE-2129010312-728&k=10994583XXS38&eml=dmFmcmFjYXNzaUBnbWFpbC5jb20=

 

Cash as-is Comps

Average cash as-is purchase 105k




Vinny Fracassi aka South Philly Vinny

Keller Williams Empower | My Philly Cassell

215-360-3434 (cell)

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