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Rick Sanderson Jr

rick@sandersonsells.com +1(856) 905-0830

$ 1,400,000

Est. payment -/mo

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Active

6126-28 BINGHAM ST Philadelphia, PA 19111

4,608 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 4,608 sqft

Price per Sqft $303

MLS Listing ID PAPH2453528

Originating Board BRIGHT

Year Built 1957

Annual Tax Amount $5,999

Tax Year 2024

Lot Size 8,400 Sqft

Acres 0.19

Lot Dimensions 60.00 x 140.00

Property Sub-Type Five Or More Units

Property Description

Unlock the potential of this rare 10-unit multifamily gem, a prime value-add investment offering immediate cash flow and long-term appreciation in Northeast Philadelphia's high-demand rental market. Featuring ten well-designed 1-bedroom units, each 500 sq. ft. with a living room, eat-in kitchen, bedroom, and full bathroom with a tub, this property presents an exceptional opportunity for investors. With five vacant units and five current tenants paying below-market rents and leases up between July and September, the potential to increase cash flow is immediate, with market rents projected at $1,440 per unit, generating up to $14,000+ in monthly rental income. Whether you choose to modernize units with light cosmetic updates or take advantage of guaranteed Section 8 rental income, this property is an ideal high-yield investment. Offered at $1.4M with a current 7% cap rate, and the potential of a 10.67% cap rate along with low annual taxes under $6,000, this asset is positioned for strong equity growth. Sitting on a spacious 0.2-acre lot with 4,600+ sq. ft. of interior space, this property provides incredible expansion potential, including the ability to add a third floor for additional units or utilize the side and backyard for off-street parking, a play area, or premium tenant amenities. Strategically located near major transit, Roosevelt Blvd's shopping district, the Navy Yard, and top employment hubs, tenant demand remains strong, ensuring consistent occupancy and long-term profitability. Whether you're looking to renovate, reposition, or expand, this property is a rare opportunity to maximize returns and build equity in a thriving rental market. Expenses and rent roll available upon request.
* Multiple offers have been received and offer deadline is Monday, March 31st. Seller reserves the right to accept an offer prior to deadline so get yours in today!

Location

State PA

County Philadelphia

Area 19111 (19111)

Zoning RSA5

Interior

Hot Water Natural Gas

Heating Baseboard - Electric

Cooling Window Unit(s)

Heat Source Natural Gas

Exterior

Water Access N

Roof Type Flat

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 881130450

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Exchange, Conventional, Private

Listing Terms Cash, Exchange, Conventional, Private

Financing Cash,Exchange,Conventional,Private

Special Listing Condition Standard

Listed by Jania Daniels • Real of Pennsylvania

Rick Sanderson Jr

Agent | License ID: 0790603

+1(856) 905-0830

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Rick Sanderson Jr

6126-28 BINGHAM ST Philadelphia, PA 19111

Key Details

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