Opportunity Knocks!! This circa 1845 massive stone mansion with over 5100 Square feet was originally built for a prominent Philadelphian and than meticulously converted into Nine apartments and two garages. The grounds boast sumptuous plantings and the property sits on a huge 11 300 square foot lot. There are multiple porches decks and outside areas. All apartments are rented and there is an almost $82 000.00 gross yearly income. Currently the owners pay all utilities but this allows for a massive upside for a new owner. Heat is fed via a newer gas heater and there is also an oil heater whichever is less expensive to run. Currently the expense are $20 584.00 per year so this handsome abode provides a true 8 cap. Germantown is one of the oldest settlements with a relaxed backyard feel that complements it's many historic attractions. In town is the Clarkson-Watson House Trinity Lutheran Church (where America's first bible was printed) and Grumblethorp (the home of the Wister family one of Germantown's first families and a central site in the Battle of Germantown in the Revolutionary War)--all noted as historic on the National Register of Historic Buildings. Public transportation is extremely well-served in this area. LaSalle University and a multitude of shops are within a mile. Twenty minutes from Center City where you are lucky to get a 5 cap with a little bit of sweat equity and creativity this building could easily net you a 12 percent recapture rate. Do not hesitate inventory is LOW!!
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