Description
220-222 Taylor Ave, Essington, PA - Prime 5-Unit Multifamily Investment Opportunity Don't miss this outstanding opportunity to acquire a well-maintained, income-producing 5-unit multifamily property in Essington. The building features four spacious 2-bedroom, 1-bath apartments along with a finished basement efficiency apartment, currently generating $79,800 in annual gross rental income. The current rent roll consists of the efficiency unit at $900 per month, with the remaining apartments renting for $1,150, $1,250, $1,400, and $1,450 per month. In addition to the apartment income, the property includes a detached two-car garage that generates $500 per month in rental income. The garage is situated on its own separate 50' x 100' lot, which is included in the sale, providing additional value and future potential for the next owner. This property offers immediate cash flow with significant upside. The current rents are below market, with comparable two-bedroom units in the area supporting rents of approximately $1,600 per month, creating an attractive value-add opportunity through future lease renewals. The building is equipped with four separate heating systems and four separate water heaters, helping to efficiently serve the residential units and simplify utility management. The owner is responsible for water, common area maintenance, lawn care, and snow removal, with water costs averaging approximately $200 per month. Even with these expenses, the property provides strong income today while offering the potential for increased returns as rents are brought to market levels. Conveniently located near Philadelphia International Airport, I-95, and major employment centers, 220-222 Taylor Ave presents a rare opportunity to acquire a stable multifamily asset with immediate cash flow, rental upside, and the added benefit of a separately deeded garage lot included in the sale. Whether you're an experienced investor or looking to expand your portfolio, this property offers an exceptional combination of current income and long-term appreciation potential.
Details
| MLS # | PADE2124758 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Days On Site | 35 |
| Listing Provided By | CG Realty, LLC | Vincent Michael Memmo |
Features
| Zoning | R1 |
|---|---|
| Acreage | 0.11 |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 1263 |
|---|
Area Information
| State | PA |
|---|---|
| County | DELAWARE PA |
| City | ESSINGTON |
| Zip Code | 19029 |
| Area | Tinicum Twp (10445) |
| School District | INTERBORO |
| Listing VS Median (in 19029) | |
Price: $699,900 low | high Med: $300,000 On site: 35 low | high Med: 63 | |
Market Activity 19029
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Learn More About This Property
| State | PA |
|---|---|
| County | DELAWARE PA |
| City | ESSINGTON |
| Zip Code | 19029 |
| Area | Tinicum Twp (10445) |
| School District | INTERBORO |
| Listing VS Median (in 19029) | |
Price: $699,900 low | high Med: $300,000 On site: 35 low | high Med: 63 | |