118-122 Erickson Ave
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118-122 Erickson Ave
11 Unit Apartment Building $1,100,000 ($100,000/Unit) 6.69% Cap Rate Essington, PA 19029
Investment Highlights
- Fully occupied property
Executive Summary
Great opportunity for adding to your investment portfolio. This is a fully occupied 11 unit on 3 parcels in the Waterfront district in Essington. The addresses are 118-122 Erickson. One parcel has a triplex, one is a vacant lot and one has 2 Quads. There are 10 - 1 Unit apartments and 1 - 2 bedroom unit. All units have mini splits for a/c and heat. Close to the Philadelphia Airport and I95, this is a very convenient location in high demand. Some units have been updated and many units have long term tenants. Excellent chance for added value by updating or utilizing the vacant lot. 24 hour notice required for showings.
Property Facts Under Contract
| Price | $1,100,000 | Apartment Style | Low Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.69% | Building Size | 6,750 SF |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Price | $1,100,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 6.69% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 6,750 SF |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.48/1,000 SF |
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Kitchen
Site Amenities
- 24 Hour Access
- Waterfront
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PROPERTY TAXES
| Parcel Number | 45-00-00392-01 | Improvements Assessment | $86,890 |
| Land Assessment | $98,420 | Total Assessment | $185,310 |
PROPERTY TAXES
Parcel Number
45-00-00392-01
Land Assessment
$98,420
Improvements Assessment
$86,890
Total Assessment
$185,310
zoning
| Zoning Code | W1 (Waterfront district) |
| W1 (Waterfront district) |
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118-122 Erickson Ave
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