417 W Queen Lane Philadelphia, PA 19144
Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25’x230’ lot lot, generating approximately $68, 000 annually with $12, 000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!
- Property TypeMulti-Family
- NeighborhoodGermantown (West)
- CountyPhiladelphia
- Taxes$4,497
- HOA/Condo/Coop Fees$0
- Days on Site38 Days
- MLS StatusActive
- MLS ID NumberPAPH2357994
- Home Size Source Assessor
- Year Built1900
- Lot Size0.13 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Other
- Parking On Street
- Sewer Public Sewer
- Basement Unfinished
- Acreage 0.13
- Water Public
- Cross Street McKean Ave
- Attached Garage No
- Foundation Concrete Perimeter
- Zoning RSA5
Interior Features
- Cooling Window Unit(s)Electric
- Heating OtherElectric
- Fireplace No
Exterior Features
- Spa No
- Waterfront Property No
Community Features
- MLS Area 19144 (19144)