INVESTORS BEHOLD! 332 N 62nd Street is a golden opportunity for savvy investors seeking a lucrative addition to their portfolio. This property is also perfect for the beginning investor looking for their first investment. The property is part of a six unit portfolio. Here's what makes this investment stand out: **Income Potential:** This multi-unit property boasts 4 spacious units, each offering comfortable living spaces and modern amenities. Whether you're targeting long-term renters or looking to live in one of the units and rent the others, the income potential is substantial. With competitive rental rates in the area and increasing demand for housing, you can expect a consistent cash flow and attractive returns on your investment. **Value-Add Opportunity:** While the property is already generating income, there's ample room for value enhancement. With a strategic renovation or upgrade plan, you can maximize rental income and increase property value. Whether it's modernizing interiors, enhancing curb appeal, or adding amenities, the potential for appreciation is significant. The property does already have a State of the Art Security System with electronic entry and a full sprinkled interior with an up to date fire alarm system. **Prime Location:** Situated in the vibrant and rapidly developing Haddington neighborhood of Philadelphia, this property is strategically positioned to capitalize on the growth of West Philadelphia. It is a short walk to the Market/Frankford 63rd street station. The #30 & #31 buses are steps away. There is easy access to major transportation routes, as well as, all of the renowned West Philadelphia universities, employment hubs, and a plethora of amenities. This location is highly desirable for tenants seeking convenience and connectivity. Very close to Haddington Woods and Cobbs Creek Park. Wonderful restaurants are within walking distance: Jim’s Steaks West, 5-Star Jamaican, Morronne’s Water Ice etc. **Stable Market Dynamics:** West Philadelphia's real estate market has demonstrated resilience and stability, making it an ideal environment for investors seeking long-term growth. With a diverse economy, a thriving job market, and a steady influx of residents, the demand for rental properties remains robust. **Investment Highlights:** - Multi-unit property with 4 units - Prime location in the heart of Philadelphia, PA - Strong rental demand and competitive rental rates - Value-add opportunities for increased cash flow and appreciation - Stable and growing real estate market with favorable investment conditions 332 N 62nd Street offers an exceptional blend of potential and profitability.
Property Details
Property Features
Property Information:
Architectural Style: AirLite
Year Built: 1915
Living Area: 1,880 SqFt
Listing Office:
Office Name: Select Commercial Advisors
Office Phone: (215) 315-3326
Listing Agent: Piruz Partow
Interior Features
Interior Information:
Basement: Yes
Exterior Features
Parking Information:
Parking: On Street
Lot Features
Lot Information:
Lot Size: 0.04 Acres
Utilities
Utilities Information:
Heating: Forced Air
Cooling: Central Air
School Info
Assigned Schools Information:
William L. Sayre High School, Public District Grades 9-12
Comm. John Barry Elementary School, Public District Grades KG-8
Other
Directions Information:
Directions: From the intersection of Haverford Ave and Girard Ave: Head west on W Girard Ave toward Haverford Ave/SR 3018/State Rte 3018 Turn left onto N 61st St Turn right onto Noble St Turn left onto N 62nd St
Municipality:
Philadelphia
Price Information
Listing Price Info
Price Summary:
List Price: $399,900
Price Per SqFt: $213/SqFt
Tax Information:
Annual Amount: $1,422
Tax Year: 2020
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Philadelphia, PA.
This property is $142.2K more than the Median Sold Price and $18/SqFt more than other homes in Philadelphia, PA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: BRIGHT
MLS Number: #PAPH2338956
Listing Office:
Office Name: Select Commercial Advisors
Office Phone: (215) 315-3326
Listing Agent: Piruz Partow
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$2,063
Per Month
Principal & Interest
$1,996
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$1,265
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
4
/10
Comm. John Barry Elementary School
5900 Race St
Distance between this listing and this school0.37 miles
Public District Grades KG-8
High School
3
/10
William L. Sayre High School
5800 Walnut St
Distance between this listing and this school0.74 miles
Public District Grades 9-12
Assigned Schools
4
/10
Comm. John Barry Elementary School
5900 Race St
Distance between this listing and this school0.37 miles
Public District Grades KG-8
Nearby Schools
4
/10
West Philadelphia Achievement Ces
6701 Callowhill St
Distance between this listing and this school0.57 miles
Public Charter Grades KG-5
4
/10
Universal Daroff Charter School
5630 Vine St
Distance between this listing and this school0.59 miles
Public Charter Grades KG-8
Nearby Schools
5
/10
Philadelphia Harambee Inst Charter School
640 N 66th St
Distance between this listing and this school0.57 miles
Public Charter Grades KG-8
2
/10
Dimner Beeber Middle School
5925 Malvern Ave
Distance between this listing and this school1.29 miles
Public District Grades 6-8
6
/10
Middle Years Alternative School for the Humanities MYA
4725 Fairmont Ave
Distance between this listing and this school1.53 miles
Public District Grades 5-8
Assigned Schools
3
/10
William L. Sayre High School
5800 Walnut St
Distance between this listing and this school0.74 miles
Public District Grades 9-12
Nearby Schools
2
/10
Overbrook High School
5898 Lancaster Ave
Distance between this listing and this school0.96 miles
Public District Grades 9-12
4
/10
Mastery Charter School -Shoemaker Campus
5301 Media St
Distance between this listing and this school1.00 miles
The neighbors living near this home have an average income of $32,396. Most Philadelphia, PA residents have annual incomes less than $35k. Most families are single, no kids. The majority of residents in this area have high school diploma education.
This home is located at 332 N 62nd St in Philadelphia, PA and zip code 19139 in the Haddington neighborhood. This 1,880 square foot home, which was built in 1915, sits on a 0.04 acre lot. It has been listed on Rocket Homes since April 12, 2024 and is currently priced at $399,900.
While more than 228 listings in Philadelphia, PA in March 2024 were sold above asking price, there were more than 214 listings sold at asking price, and more than 481 were sold below. In March 2024 in Philadelphia, PA there were 4.6% more homes for sale than in February 2024. In March 2024 median list price was $257,610 and the average listing age was 54 days.
From Rocket Homes Real Estate and based on county public records data.