4942 Chestnut St, Philadelphia, PA 19139

Property Description

Turnkey, fully renovated and occupied University City quadplex offered at a 7.72% in-place cap rate! AND it has most of its full 10-year tax abatement remaining! This property offers immediate income with additional upside through light value-add and rental optimization, without the need for a major renovation program. Extensive building upgrades include a new roof and major building systems, along with updated interiors featuring hardwood flooring, modern finishes in all kitchens and baths, abundant natural light, and individually managed electric services. This three-story property includes four spacious and distinct units: a large bi-level 4BR/2BA with private outdoor space, a bright and open studio with bay windows, a spacious 1BR, and a 2BR with a private third-floor deck. A shared coin-operated basement laundry provides additional resident convenience and supplemental income potential. Ideally located in University City with convenient access to Penn, Drexel, major medical institutions, public transportation, restaurants, retail, and neighborhood amenities. This is a rare opportunity to acquire a renovated, fully occupied multifamily asset with immediate cash flow and identifiable upside.