6813 Woodland Avenue Philadelphia, PA 19142

$189,900
0.06
Acres
2,635
SQFT
72
$/SQFT
$189,900
2,635   sf
$72 / sf
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active
1/20
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Investor Opportunity with Significant Value-Add Potential! This property presents a unique opportunity for an experienced investor looking to reposition and maximize a multi-family asset. Currently configured as 5 units, the property previously generated approximately $3,600 per month when fully occupied, with potential for increased rental income through improvements and optimization. The property was previously a legal triplex and formerly carried RM-1 zoning; however, it is currently zoned RSA-3 (single-family). The seller has already initiated the zoning process and was advised that pursuing approval for 4 units may be the most straightforward path. Buyer will be responsible for completing the zoning process and independently verifying permitted use. The surrounding block includes numerous multifamily properties, providing additional context for the property's potential. For investors considering the upside, legal triplex properties have sold in the area for approximately $270,000, offering a useful reference point when evaluating the potential value and equity opportunity associated with successfully restoring a legal multifamily use. The property currently has one paying tenant at $800/month. Each unit has a separate water heater, while the building currently operates from one shared house heating system. An investor may consider converting to individual mini-split systems, electric baseboard heat, or another separately controlled system as part of the property's renovation and repositioning. This is an opportunity for an investor who understands the zoning and value-add process to acquire a property with an existing five-unit configuration, prior legal multi-family history, established rental-income potential, and multiple avenues for repositioning. Property is being sold in its current condition. Buyer is responsible for all zoning, use, licensing, and due-diligence verification.

Investor Opportunity with Significant Value-Add Potential! This property presents a unique opportunity for an experienced investor looking to reposition and maximize a multi-family asset. Currently configured as 5 units, the property previously generated approximately $3,600 per month when fully occupied, with potential for increased rental income through improvements and optimization. The property was previously a legal triplex and formerly carried RM-1 zoning; however, it is currently zoned RSA-3 (single-family). The seller has already initiated the zoning process and was advised that pursuing approval for 4 units may be the most straightforward path. Buyer will be responsible for completing the zoning process and independently verifying permitted use. The surrounding block includes numerous multifamily properties, providing additional context for the property's potential. For investors considering the upside, legal triplex properties have sold in the area for approximately $270,000, offering a useful reference point when evaluating the potential value and equity opportunity associated with successfully restoring a legal multifamily use. The property currently has one paying tenant at $800/month. Each unit has a separate water heater, while the building currently operates from one shared house heating system. An investor may consider converting to individual mini-split systems, electric baseboard heat, or another separately controlled system as part of the property's renovation and repositioning. This is an opportunity for an investor who understands the zoning and value-add process to acquire a property with an existing five-unit configuration, prior legal multi-family history, established rental-income potential, and multiple avenues for repositioning. Property is being sold in its current condition. Buyer is responsible for all zoning, use, licensing, and due-diligence verification.

  • Neighborhood
  • Type
  • County
    Philadelphia
  • Area
    19142
  • Tax Amount
    $3,733
  • Status
    Active
  • Listing #
    PAPH2673750
  • Built
    1920
  • Lot Size
    0.06
  • Listed on site
    12 days
  • Listing Agent Id
    121136419371

Listed by:
Luxe Real Estate LLC

Source:
BRIGHT MLS

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Community Features

  • No HOA
  • No Adult Community

Property Features

  • No Builder Restrictions

Exterior features

  • No Pool
  • Basement

Property History

DateDays AgoEventNew Price
Oct 1, 20265 days agoPrice decreased10,000 (5%)$189,900
Sep 23, 202612 days agoNew on market$199,900
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