Philadelphia, PA 19138,7000 FORREST AVE
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Philadelphia, PA 19138,7000 FORREST AVE
Philadelphia, PA 19138,7000 FORREST AVE
Philadelphia, PA 19138,7000 FORREST AVE
Philadelphia, PA 19138,7000 FORREST AVE

$387,500

Est. payment /mo

$394,900

1.9%
Est.Price: ?

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7000 FORREST AVE Philadelphia, PA 19138

1,872 SqFt

SOLD DATE : 04/01/2024

Key Details

Sold Price $387,500

Property Type Multi-Family

Sub Type End of Row/Townhouse

Listing Status Sold

Purchase Type For Sale

Square Footage 1,872 sqft

Price per Sqft $206

MLS Listing ID PAPH2321418

Sold Date 04/01/24

Style Traditional

Abv Grd Liv Area 1,872

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $3,729

Tax Year 2024

Lot Size 1,973 Sqft

Acres 0.05

Lot Dimensions 21.00 x 93.00

Property Description

This is a unique opportunity for a turnkey rental property in West Oak Lane for either an owner-occupant investor (3rd floor tenant just moved out) or someone simply looking for positive cash flows. All three units are 2 bedrooms, relatively similar in size, and all fully renovated/updated in 2015. Units #1 & #2 are occupied by long-term tenants, though their rents are slightly below the current market values based on my rental comps. All current and projected rents are included in the listing details. Even at the current rents the property has a 6.5% cap rate, but projects at a 7.57% cap rate at the market value rents of $1,000/mo, $1,250/mo, and $1,200/mo. A pro-forma P&L is included in the document section of the listing. In addition to this being a sunny corner property, the location has an 83 WalkScore so most errands can be accomplished on foot. In addition to all of the conveniences located on nearby Ogontz Ave, there are also several close by local favorites such as Dubu, Jamil's Cafe, and Le Onde Ristorante.

Location

State PA

County Philadelphia

Area 19138 (19138)

Zoning RSA5

Interior

Hot Water Electric

Heating Baseboard - Electric

Cooling Window Unit(s)

Heat Source Electric

Exterior

Exterior Feature Deck(s)

Water Access N

Accessibility None

Porch Deck(s)

Garage N

Building

Lot Description Corner

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Traditional

Additional Building Above Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 102519500

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing VA, FHA, Conventional, Cash

Listing Terms VA, FHA, Conventional, Cash

Financing VA,FHA,Conventional,Cash

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Neil P Dessecker • RE/MAX One Realty - TCDT
Bought with Victor Adeola King • BHHS Fox & Roach-Jenkintown

Brandi Dillon

Broker Associate | License ID: 668901

+1(240) 361-7745

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