2 E MCPHERSON ST, Philadelphia, PA 19119
2 E MCPHERSON ST, Philadelphia, PA 19119,Video Tour
2 E MCPHERSON ST, Philadelphia, PA 19119
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Marcee McMullen

Marcee McMullen

+1(610) 368-5860
Listed by Philippe Daouphars • EXP Realty, LLC
$600,000
Est. payment /mo
2,000 SqFt
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UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type End of Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 2,000 sqft

Price per Sqft $300

Subdivision Mt Airy

MLS Listing ID PAPH2661604

Style AirLite

Abv Grd Liv Area 2,000

Year Built 1952

Annual Tax Amount $4,942

Tax Year 2026

Lot Size 1,669 Sqft

Acres 0.04

Lot Dimensions 18.95 x 88.09

Property Sub-Type End of Row/Townhouse

Source BRIGHT

Property Description

This well-maintained and fully occupied approved three-unit multifamily property offers immediate in-place income and an attractive opportunity for investors. The property features a desirable unit mix consisting of one 1-bedroom/1-bath apartment and two 2-bedroom/1-bath apartments. Current rents are $1,325 per month for the 1-bedroom unit and $1,575 and $1,750 per month for the two 2-bedroom units, generating $4,650 in monthly rental income and $55,800 in annual gross income. See available income and expenses in documents.

The property has been well maintained, with recent kitchen and bathroom upgrades providing modern finishes while retaining the character of the building. Units offer bright living spaces, hardwood flooring and updated kitchens and baths. The attractive stone and brick exterior further distinguishes the property. Utilities are separately metered and paid by the tenants, with the landlord responsible for water, helping to keep owner operating expenses low.

Offered at $600,000, the property generates approximately $41,670 in NOI, representing a 6.95% capitalization rate based upon current operations. With established tenancy, recent interior improvements and approximately a 7% in-place cap rate, 2 E McPherson Street presents an attractive opportunity to acquire a stabilized, income-producing multifamily property with immediate cash flow.

Location

State PA

County Philadelphia

Area 19119 (19119)

Zoning RSA5

Rooms

Basement Connecting Stairway

Interior

Hot Water Natural Gas

Heating Hot Water

Cooling None

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Private Pool No

Building

Foundation Block

Above Ground Finished SqFt 2000

Sewer Public Sewer

Water Public

Architectural Style AirLite

Additional Building Above Grade, Below Grade

New Construction N

Schools

Elementary Schools Abram Jenks

Middle Schools Ada Lewis

High Schools Martin Luther King

School District The School District Of Philadelphia

Others

Tax ID 091045400

Ownership Fee Simple

SqFt Source 2000

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

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Marcee McMullen

Marcee McMullen

+1(610) 368-5860

Realtor & Team Owner | License ID: PA# RS-349026 | DE# RS-0026228

Realtor & Team Owner License ID: PA# RS-349026 | DE# RS-0026228

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