6126-28 BINGHAM ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19111
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,608 sqft
Price per Sqft $303
MLS Listing ID PAPH2453528
Originating Board BRIGHT
Year Built 1957
Annual Tax Amount $5,999
Tax Year 2024
Lot Size 8,400 Sqft
Acres 0.19
Lot Dimensions 60.00 x 140.00
Property Sub-Type Five Or More Units
Property Description
Unlock the potential of this rare 10-unit multifamily gem, a prime value-add investment offering immediate cash flow and long-term appreciation in Northeast Philadelphia's high-demand rental market. Featuring ten well-designed 1-bedroom units, each 500 sq. ft. with a living room, eat-in kitchen, bedroom, and full bathroom with a tub, this property presents an exceptional opportunity for investors. With five vacant units and five current tenants paying below-market rents and leases up between July and September, the potential to increase cash flow is immediate, with market rents projected at $1,440 per unit, generating up to $14,000+ in monthly rental income. Whether you choose to modernize units with light cosmetic updates or take advantage of guaranteed Section 8 rental income, this property is an ideal high-yield investment. Offered at $1.4M with a current 7% cap rate, and the potential of a 10.67% cap rate along with low annual taxes under $6,000, this asset is positioned for strong equity growth. Sitting on a spacious 0.2-acre lot with 4,600+ sq. ft. of interior space, this property provides incredible expansion potential, including the ability to add a third floor for additional units or utilize the side and backyard for off-street parking, a play area, or premium tenant amenities. Strategically located near major transit, Roosevelt Blvd's shopping district, the Navy Yard, and top employment hubs, tenant demand remains strong, ensuring consistent occupancy and long-term profitability. Whether you're looking to renovate, reposition, or expand, this property is a rare opportunity to maximize returns and build equity in a thriving rental market. Expenses and rent roll available upon request.
* Multiple offers have been received and offer deadline is Monday, March 31st. Seller reserves the right to accept an offer prior to deadline so get yours in today!
Location
State PA
County Philadelphia
Area 19111 (19111)
Zoning RSA5
Interior
Hot Water Natural Gas
Heating Baseboard - Electric
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Roof Type Flat
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881130450
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash,Exchange,Conventional,Private
Listing Terms Cash,Exchange,Conventional,Private
Financing Cash,Exchange,Conventional,Private
Special Listing Condition Standard