UNIVERSITY CITY 5 UNIT APARTMENT BUILDING FOR SALE

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1 UNIVERSITY CITY 5 UNIT APARTMENT BUILDING FOR SALE 4517 CHESTER AVENUE, PHILADELPHIA, PA WALNUT ST, PHILADELPHIA, PA

2 5 UNIT APARTMENT BULDING FOR SALE M MALLIN PANCHEL L I 4517 CHESTER AVENUE University City, Philadelphia NADEL MALLI RE A LT Y 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 n mhersch@mpnrealty.com

3 PROPERTY OVERVIEW Price $695,000 Year Built 1889 Number of Floors 3 Number of Units 5 Unit Mix (2) Studio (1) One Bedroom (2) Three Bedroom Lot Size 26 x 138 Lot Area Total Rentable Area of Building 3,541 SF 3,540 SF (per City of Philadelphia) Real Estate Tax 2016 $5,180 Parking Frontage Site Shape Zoning Foundation Exterior Roofing Electric Domestic Hot Water Heat Air Conditioning Cooking Flooring 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

4 Operating Statement INCOME Scheduled Gross Income $ 60,300 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 5% $ 2,864 Total Expenses $ (16,914) Net Operating Income $ 40,371

5 Rent Roll UNIT UNIT TYPE MONTHLY RENT 1 3 BED/1 BATH $ 1,460 2 STUDIO $ BED/1 BATH $ STUDIO $ BED/2 BATH $ 1,450 TOTAL $ 5,025 RESPONSIBILITY FOR UTILITIES Electric Heat/Air Conditioning Water and Sewer Domestic Hot Water Cooking Gas TENANT LANDLORD LANDLORD LANDLORD TENANT

6 4517 CHESTER AVE University City, Philadelphia M MALLIN PANCHEL L I NADEL MALL RE A LT Y Property Photos PROPERTY REAR SAMPLE LIVING ROOM SAMPLE KITCHEN MICHAEL HERSCH n mhersch@mpnrealty.com

7 Property Photos SAMPLE BEDROOM SAMPLE BEDROOM SAMPLE LIVING AREA

8 University City 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.

9 University City