$ 1,400,000
-
$1,400,000
Price -
10
Bed - Bath
-
4,608
SqFt
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About the Listing 55701 - 3282379
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. * Seller is working on refreshing vacant units and placing tenants in at market rent.
Listing Highlights for 6126 Bingham St
Status
Active
Days on Site
176
Property Type
Multi-Family
MLS ®
PAPH2457966
Year Built
1957
Total Square Footage
4,608
Lot/Acreage
0.19
Interior Details
- Bedrooms: 10
- Bathrooms: Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Baseboard - Electric
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 4608
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 60.00 x 140.00
- Zoning: RSA5
- Roof: Flat
- Others: Good,Average
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $5,999
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
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Listing Location
Questions About..
6126 Bingham St Philadelphia, PA 19111
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