1433 W Norris Street Philadelphia, PA 19121
Inquire about 3D video tours, floor plans, and video walkthroughs! Here is your opportunity to purchase a turn-key property, leased until July 31, 2025. Ideal for a 1031 Exchange, this investment features a building with a 9.77 Gross Rent Multiplier (GRM), offering tax deductions and appreciation potential. Located just a 30-second walk from the Norris & Broad St intersection, it's an excellent location for Temple University students and their parents, ensuring peace of mind and convenience. The building was completely renovated in 2011, with Unit 1 receiving a complete renovation in Summer 2023. From August 1, 2024, to July 31, 2025, the building will generate $6, 555 monthly, totaling $78, 660 annually. The tenants, who are Temple University students, are in joint leases and have qualified co-signers. The landlord covers water, trash pick-up, and cleaning of common areas. An estimated 7.75% CAP rate is exceptional for this setup and location. The units are easy to rent and manage due to the proximity to the school and their setups: Unit 1: 4 bed/4 bath, $2800 + $80 water fee Unit 2: 3 bed/2 bath, $1800 + $75 water fee Unit 3: 3 bed/1 bath, $1725 + $75 water fee The owner has maintained the property well, requiring minimal upkeep from the new landlord. All units boast central AC & heating, separate washers and dryers, and electric appliances. Schedule your tour today or explore our virtual tours!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyPhiladelphia
- Taxes$7,879
- HOA/Condo/Coop Fees$0
- Days on Site18 Days
- MLS StatusActive
- MLS ID NumberPAPH2348100
- Home Size Source Estimated
- Year Built2011
- Lot Size0.03 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Other
- Construction Brick
- Parking On Street
- Sewer Public Sewer
- Basement Partial
- Acreage 0.03
- Water Public
- Cross Street 15TH STREET
- Property Sub Type Triplex
- Attached Garage No
- Foundation Other
- Zoning SPINS
Interior Features
- Cooling Central A/ CElectric
- Heating CentralNatural Gas
- Appliances DishwasherWasherDryerIntercomBuilt- In MicrowaveStoveRefrigerator
- Flooring HardwoodLuxury Vinyl PlankTile/ Brick
- Fireplace No
Exterior Features
- Spa No
- Waterfront Property No
Community Features
- MLS Area 19121 (19121)