4517 CHESTER AVENUE, PHILADELPHIA, PA 19143

[Pages:9]UNIVERSITY CITY 5 UNIT APARTMENT BUILDING FOR SALE

4517 CHESTER AVENUE, PHILADELPHIA, PA 19143

MPN MPN 1601 WALNUT ST, PHILADELPHIA, PA 19102 215.413.4900 n

MALLIN PANCHELLI NADEL

MALLIN PANCHELLI NADEL

RE ALT Y

RE ALT Y

5 UNIT APARTMENT BULDING FOR SALE

MPN M

MALLIN PANCHELLI NADEL

MALLI

RE A LT Y

4517 CHESTER AVENUE University City, Philadelphia

MPN Realty Inc. is pleased to present this five unit multi-family property on Chester Avenue in Cedar Park, a dynamic section of West Philadelphia. On the SEPTA trolley line, with easy access to Center City, this property is located on a tree lined street just off Clark Park and the Baltimore Avenue business corridor. In addition to West Philly enthusiasts, this property is appealing to a wide range of tenants including students, faculty, and others that are connected to the University of Pennsylvania and the University of Science in Philadelphia (USP). The property is just a few blocks away from University of Pennsylvania's new U-Science installations on Woodland Avenue.

The apartments have many attractive architectural features including original hardwood floors, high ceilings and decorative fireplaces and mantles. Well placed upgrades could yield higher rents than those that are being paid currently.

Available separately or with 4705 Chester Ave.

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

4517 CHESTER AVE University City, Philadelphia

MPN MALLIN PANCHELLI NADEL RE A LT Y

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PROPERTY OVERVIEW Price Year Built Number of Floors Number of Units Unit Mix Lot Size Lot Area Total Rentable Area of Building Real Estate Tax 2016 Parking Frontage Site Shape Zoning Foundation Exterior Roofing Electric Domestic Hot Water Heat Air Conditioning Cooking Flooring

$695,000 1889 3 5 (2) Studio (1) One Bedroom (2) Three Bedroom 26' x 138' 3,541 SF 3,540 SF (per City of Philadelphia) $5,180 Street parking 26' on Chester Ave Rectangle RTA-1 (Residential Mixed-Use) Stone & concrete Brick & wood A-frame, pitched roof Separately metered; paid by Tenant Gas; paid by Landlord Radiant heating; paid by Landlord Window units Electric; paid by Tenant Hardwood & tile

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

4517 CHESTER AVE University City, Philadelphia

Operating Statement

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INCOME Scheduled Gross Income

$

60,300

Vacancy @ 5%

$

(3,015)

Effective Gross Income

$

57,285

OWNER'S EXPENSES Real Estate Tax 2016

$

5,180

Insurance

$

2,300

Water & Sewer

$

900

Electric

$

320

Gas

$

1,800

Trash

$

300

Snow Removal

$

500

Capital Reserve for Repairs & Maintenance

$

2,500

Licenses ($50/unit)

$

250

Management @ 5%

$

2,864

Total Expenses

Net Operating Income

$

(16,914)

$

40,371

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

4517 CHESTER AVE University City, Philadelphia

Rent Roll

UNIT 1

UNIT TYPE 3 BED/1 BATH

MONTHLY RENT

$

1,460

2

STUDIO

$

650

3

1 BED/1 BATH

$

810

4

STUDIO

$

655

5

3 BED/2 BATH

$

1,450

TOTAL

$

5,025

MPN MALLIN PANCHELLI NADEL RE A LT Y

M MALL

RESPONSIBILITY FOR UTILITIES Electric Heat/Air Conditioning Water and Sewer Domestic Hot Water Cooking Gas

TENANT LANDLORD LANDLORD LANDLORD TENANT

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

4517 CHESTER AVE University City, Philadelphia

Property Photos

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PROPERTY REAR

SAMPLE LIVING ROOM

SAMPLE KITCHEN

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

4517 CHESTER AVE University City, Philadelphia

Property Photos

MPN MALLIN PANCHELLI NADEL RE A LT Y

M MALL

SAMPLE BEDROOM

SAMPLE BEDROOM

SAMPLE LIVING AREA

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

4517 CHESTER AVE University City, Philadelphia

University City

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Tree-lined streets, public gardens, and open green spaces make University City a verdant, livable community. Neighbors shop together for fresh produce at farmer's markets, dine in cozy restaurants, and listen to open-air concerts and plays, all within blocks of the distinctive wide porches of the leafy residential areas.

This unique and diverse neighborhood in West Philadelphia was named for the six colleges and universities that sit between 50th street and the Schuylkill River, but it is much more than a college town. University City grows each year, adding occupants, restaurants, world-class institutions, and programming, making it one of the most livable, well-kept, and friendly neighborhoods in Philadelphia.

This neighborhood also boasts a magnetic individuality fueled by youthful innovation and an unshakeable commitment to artistic and cultural exploration. Visitors who walk U-City's ample, busy sidewalks will uncover a fascinating palette of people and places, offering everything from a vibrant street-food scene and Iron Chef-run establishments to high-end art galleries and intimate late-night hangs.

MICHAEL HERSCH 267.238.1733 n mhersch@

Information concerning this offer is from sources deemed reliable and no warranty is made as to the accuracy thereof. The offering is submitted subject to errors, omissions, change in price, or other conditions, prior sale or Lease, or withdrawal without notice. The prospective tenant should carefully verify to his/her own satisfaction all information contained herein.

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