516 North Preston Street

Philadelphia, PA 19104

$725,000
Price
8
Beds
4
Baths
3,732 Sq. Ft.
$194 / Sq. Ft.
3,732
Sq. Ft.
$194
per Sq. Ft.

Description

Fantastic Investment Opportunity! Don’t miss this fully rented triplex with excellent cash flow and low annual expenses. This property features three units with a total of eight bedrooms: a spacious bi-level four-bedroom, two-bath unit complete with a kitchen, two living areas, and a private patio. The second and third floors offer two updated two-bedroom, one-bath units. Each apartment boasts hardwood and ceramic tile flooring, modern kitchens with gas stoves, in-unit washers and dryers, and individual...Fantastic Investment Opportunity! Don’t miss this fully rented triplex with excellent cash flow and low annual expenses. This property features three units with a total of eight bedrooms: a spacious bi-level four-bedroom, two-bath unit complete with a kitchen, two living areas, and a private patio. The second and third floors offer two updated two-bedroom, one-bath units. Each apartment boasts hardwood and ceramic tile flooring, modern kitchens with gas stoves, in-unit washers and dryers, and individual heating and central air conditioning. Recent upgrades include: newer HVAC units (units A, B, and C), vinyl siding, new water service line, new dishwasher (Unit A), new range and microwave (unit C). Located in the thriving West Powelton neighborhood, this property is strategically positioned near the University City Science Center, Drexel University, and the University of Pennsylvania, along with a variety of dining and coffee options. With multiple convenient SEPTA transportation options available, it is less than ten minutes by car or bicycle to Center City—an undeniable opportunity for any investor.

Listing Agents

  1. Jordan Wiener

    Jordan Wiener

    Listing Agent

    Compass

    jordan.wiener@compass.com

    P: (610)-996-6000

  2. Susan Henley

    Susan Henley

    Alternative Listing Agent

    Compass

    susan.henley@compass.com

    P: (610)-246-9310

Property Details for 516 North Preston Street

Tax ID Number
061194900
Ownership
Fee Simple
Structure Type
End of Row/Townhouse
Style
Traditional
Waterfront
No
Garage
No
Subdivision
POWELTON VILLAGE
Subdivision
POWELTON VILLAGE (PHILADELPHIA PA)
LISTING UPDATED: 12/03/2024 10:34 AM

Property Details for 516 North Preston Street

StatusActive
MLS #PAPH2413020
Days on Market69
Taxes$7,418 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2009
Lot Size0.03 AC / 1,524 SF
CountyPhiladelphia County
Buyer's Agent Compensation2.5%

Building

516 N Preston St

2 StoriesBuilt in 2009

Building Information for 516 North Preston Street

Stories2Residences-Year Built2009Building Size-Lot Size0.03 AC / 1,524 SF

Property Information for 516 North Preston Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19104 (19104)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2024
  • Tax Assessed Value: $530,000
  • Year Assessed: 2024
  • County Tax: $0
  • Improvement Assessed Value: $424,000
  • City Town Tax: $3,264
  • Land Assessed Value: $106,000
  • Clean Green Assessed: No
  • Land Use Code: W50
  • Zoning: RSA5
  • Tax Lot: 240
  • School Tax: $4,154
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Heater Maintenance Contract, Insurance, Pest Control, Repairs, Sewer, Snow Removal, Taxes - Real Estate, Water
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 2
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 3
  • Units Leased Count: 3
  • Number Of Units Vacant: 0
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Finished SQFT: 1750
  • Unit Type Lease Type: Yearly
  • Beds Total: 4
  • Full Baths Count: 2
  • Unit Type Features: back patio, first level and basement
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 944
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 944
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Financial Information
Expenses
  • Operating Expense Includes: Insurance, Snow Removal, Trash
Financial Information
  • Gross Income: $64,587
  • Net Operating Income: $48,629
  • Annual Rental Income: $64,587
  • Cap Rate: 6.70
  • Existing Lease Type: Yearly
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 3,732.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 17.00 x 92.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 911607
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Tri-County Suburban REALTORS
  • List Agent URL: www.jordanwiener.com

Property History for 516 North Preston Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 516 North Preston Street

Taxable ValueLand$106,000Additions$424,000Total$530,000
Tax Record2024$7,419 ($618 / month)
Home Facts
Total Finished SqFt2,874 SqFtAbove Grade Finished SqFt2,874 SqFtStories3Lot Size1,524 SqFtStyleMulti-Family Dwelling (2-4)Year Built2009ZoningRSA5CountyPHILADELPHIAAPN06-1-1949-00

Schools near 516 North Preston Street

This home is within The School District of Philadelphia.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Locke Alain School
PublicK to 8

West Philadelphia High School
Public9 to 12

Philadelphia Learning Academy - South
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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516 North Preston Street is a multi-family home for sale in Philadelphia, PA 19104. This property was listed for sale on October 23, 2024 by Compass, it's currently listed at $725,000. It has been on the market for a total of 69 days and was last sold on June 14, 2019. This listing's school district is The School District of Philadelphia. Nearby schools include Locke Alain School, West Philadelphia High School and Paul Robeson High School For Human Services. 516 North Preston Street is a 8-bed, 4-bath, 3,732 sqft multi-family home built in 2009.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.