Temple University Investment Properties!

Amazing ROI opportunity! Excellent cap rates. Fully renovated triplexes on Temple Campus and 1/2 block from North Broad street mega development sites!!

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North Broad is appreciating rapidly with several mega improvements underway: Temple football field, Divine Lorraine, and dozens of private sector housing, mixed use and infrastructure improvements!!

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These large 3 and 4 bedroom units have high rents ($4,500-$5,000 /month) and luxury finishes including granite kitchens with stainless steel appliances, tile and hardwood flooring, central air, and much more!

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10 YEAR TAX ABATEMENT WAS APPROVED IN 2014- super low taxes add to the excellent investment return! Both 2261 and 2311 Park ave are fantastic buys.

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Do the math, these deals work and will great mid to long term investments, the city is booming, this neighborhood is on fire, just drive around and take a look!!

Jim Onesti, McCann Team
jonesti@mccannteam.com — 215.440.2052 Direct 
Berkshire Hathaway HomeServices — Fox & Roach Realtors — The McCann Team
530 Walnut Street — Suite 260 — Philadelphia PA 19106 — 215.627.6005 Main

 

Rare Opportunity to Build 31 Homes with Parking!! Not on the MLS!

31 Lot Subdivision, Kerper Place in Lawncrest section of Philadelphia.Publication1

The homes can be 2 or 3 stories.

Parking: 65 parking spaces, 2 spaces each for 31 houses plus additional parking.

Each house is 16 x 48 with front and back yards.

16 twins and 15 rows and each lot is 3335 sq. ft. per unit.

Asking price $1,680,000 ($54k per lot)

Can be delivered with or without zoning approvals!

Well Maintained neighborhood close to Regional Rail, public parks, JC Melrose Country Club, highways etc.

For more info contact Jim Onesti – 215.440.2052 or jonesti@mccannteam.com
BHHS Fox & Roach – McCann Team – 215.627.6005

Great Development Opportunity…Not on The MLS!

North Pennsport block.Surrounded by $500-$600k new construction.
New facade, new $8k Pella windows, new sidewalk and plumbing to street.
The rest of the home is a cleaned out shell with a new concrete slab in basement.
3-story, 1500 square feet, not including future finished basement.
Asking price is $189k, needs $100k in construction but resale is $350k !!

There may be some room in acquisition price!  1228 S Hancock Street
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For more information contact Jim Onesti – BHHS Fox & Roach – Mike McCann Team
215.627.6005 Main – 215.440.2052 Direct or jonesti@mccannteam.com

Discount Brokers: The Real Deal

We have all heard the old saying, “If it sound like it is too good to be true, it probably is.” Unfortunately, this is typically the case with discount brokers. Whenever the real estate market reaches a high point, tons of new, discount brokers and startup companies seem to appear out of nowhere. They come promising dramatically decreased commission percentages in exchange for their discounted services. Now, we understand how appealing this may look but I want you to be informed and aware of the risk involved when you come in contact with these operations.

As an experience realtor, I have seen the poor service that these organizations provide on numerous occasions. Many of these companies require upfront payment in order to list the property in the MLS and then disappear, leaving clients baffled, confused and alone.  Eventually, the companies disappear completely, leaving a great deal of wreckage behind.

Be Forewarned! These individuals do not do the same job as legitimate, real estate professionals. They will not take the time to market your home, manage paperwork, host open houses or guide you through the negotiation process like genuine professionals. They will simply cash your check, list the property and disappear.

Bottom line, if your home is not a discount property, then do not list with a discount broker. Those flashy and appealing discounted rates could end up costing you more than you ever imagined. Be safe, be smart, and beware of the discount broker.

For a name you know and a Realtor you can trust, contact me today!
Jim Onesti – BHHS Fox & Roach – McCann Team – 215-627-6005 Main
215.440.2052 Direct or jonesti@mccannteam.com 

Incredible New Development Opportunities!

2209-15 League Street. Graduate Hospital!! 3 continuous lots and a shell. $675k

22XX Greenwich, Point Breeze – Coming soon! – $45k

Francisville Lots: 833-835 N 15th Street + 837 N 15th Street + 1437 Parrish Street
(ZONED IRMX which allows multi-family with NO commercial requirements!!!)
833-835 N 15th St – $119,000.00  –  837 – $89,000.00  – 1437 Parrish – $99,000.00

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For more information or to make an offer today contact
Jim Onesti 215.440.2052 or jonesti@mccannteam.com
BHHS Fox & Roach, McCann Team 215.627.6005 Main 

MASSIVE Broad Street Property for Sale!

2221 (2)Gorgeous 5500 + square foot Broad street property that runs street to street with parking. Detached, free standing building!

Limestone and Granite facade! One block from the hospital, next to Starbucks and commercial Broad street strip center at Broad and Jackson. HOT Location with Huge rent potential!!

Roof Deck views of Center City and South Philly, and Stadiums.

Tax abatement submitted/pending!

It’s fully approved and permitted for 6 residential rental units and 2 parking spots (but you can probably fit 4 prkg total).
4–1 bed/1 bath, 1–2 bed/2 bath, 1–2 bed/1 bath.

The property is framed and new plumbing is almost completed, fully permitted….. easy to rent due to hospital located down block and booming navy yard 2221 2  (2)expansion.

Broad Street Subway entrance ½ block away!

Appraised in Feb 2013 for right around $1.1mm, with market rents of $8,400/month ($100,800/year).  If one went with high end finishes, you may be able to push these numbers higher. (appraisal attached)

The owner has other projects he wants to move to and wants to sell. He is asking 725k. It needs another $200k or so to finish but should cash flow very nicely.

Truly an amazing building and rare opportunity!

Plans and multi-tab pro-forma attached..

Below are the potential rental income figures

o    1F: $1250/month (1bdrm/1ba, multi-level with basement living area)

o    1R: $1800/month (2bdrm/1ba)

o    2F: $1250 (large 1bdrm/1ba)

o    2R: $1050 (1bdrm/1ba)

o    3F: $2000 (2brm/2ba, roof deck, multi-level)

o    3R: $950 (smaller 1bdrm/1ba)

o    Parking: 2 spaces x $100/month = $200

o    Totals: $8500/month, $102,000/year

CLICK HERE FOR BUILDING PERMITS!

CLICK HERE FOR PROFORMA!

CLICK HERE FOR 1st & 2nd FL PLANS!

CLICK HERE FOR 3rd & 4th FL PLANS!

For more information contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com – BHHS Realtors 215.627.6005

When We Tell You A Deal is a Home Run You Should Listen!!

CoverLast year we had a 31 property package of Graduate Hospital homes listed at $8 million.

We estimated the package to be worth $10 million IN AS-IS CONDITION and with value added it would be worth closer to $13 million.

These properties have all recently sold and settled, with most of them in as is condition and most for an average sale price of $400,000++ per property!!

With demand in the Graduate area extremely high and inventory extremely low, this was definitely a once in a lifetime opportunity!!!!

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