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631 N Preston St
Philadelphia, PA 19104
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Close to Drexel to University
- Close to University of Pennsylvania
- Situated just minutes from Center City, providing convenience for both investors and owner-occupants.
- Opportunity Zone - Private
- Prime location near University of Pennsylvania, Drexel University, popular restaurants, shopping, and excellent public transportation access.
Executive Summary
Welcome to 631 N Preston! Embrace this amazing NEW CONSTRUCTION QUADUPLEX - 4 UNITS -offering a perfect blend of modern comfort and classic design. Completed JUNE 2024 this building features a 10 Year Tax Abatement. Boasting versatile two 2-bed, 2-bath units on the second & third floor, with third floor unit featuring a massive outdoor roof-deck. Also complemented by 2 more bi-level units on first and lower level. One unit features a 1-bed 1-bath apartment while thw other is currently set up as commercial space with the ability to be converted into a unit. The open-concept kitchen and living areas create a welcoming atmosphere, characterized by thoughtful layouts. This property caters to the first-time homebuyer, or savvy investor. 10 YEARS TAX ABETMENT! Additional perks include a one-year warranty, and the property's location within a Qualified Opportunity Zone (QOZ), ensuring a secure investment. Conveniently located near University of Penn and Drexel University, restaurants, public transportation, shopping centers and just minutes from Center City. Don't miss the opportunity to own this amazing Quadplex, rent it as investment or live in one unit and rent the others! Schedule your tour today. Floor plans can be provided at request.
Opportunity Zone - Private
Roof-deck
Close to Drexel to University
Desirable layouts Close to University of Pennsylvania
10 Year Tax Abatement
Opportunity Zone - Private
Roof-deck
Close to Drexel to University
Desirable layouts Close to University of Pennsylvania
10 Year Tax Abatement
Property Facts
| Price Per Unit | $318,203 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 9.39% | Building Size | 3,703 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CMX2 - Mixed use commerical and residential | ||
| Price Per Unit | $318,203 CAD |
| Sale Type | Investment |
| Cap Rate | 9.39% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,703 SF |
| No. Stories | 3 |
| Year Built | 2024 |
| Opportunity Zone |
Yes |
| Zoning | CMX2 - Mixed use commerical and residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,075 CAD | 671 - 1,049 |
| 2+2 | 2 | $2,836 CAD | 971 - 1,050 |
Property Taxes
| Parcel Number | 061185010 | Improvements Assessment | $799,214 CAD |
| Land Assessment | $199,804 CAD | Total Assessment | $999,018 CAD |
Property Taxes
Parcel Number
061185010
Land Assessment
$199,804 CAD
Improvements Assessment
$799,214 CAD
Total Assessment
$999,018 CAD
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