6550 Lebanon Avenue, Philadelphia, PA 19151

$260,000
List Price
$260,000
Closing Date
Jan 08, 2020
Days On Market
15
Status
ACTIVE UNDER CONTRACT
MLS#
PAPH847606
Lot Size (Acres)
0.04
Year Built
1925
County
Philadelphia

Property Description

Look no further, you have just found your next investment for quick positive cashflow. Profitable Laundromat Business and Building in Overbrook section of West Philadelphia. Great investment property to add to your portfolio. Excellent return on investment. Two newly renovated apartments with long-term tenants over top of a fully operational, well maintained laundromat. Front apartment is a studio apartment renting for $625/month. Features an eat-in kitchen, full bathroom and oversized bedroom. Back apartment is 1-bedroom apartment that rents for $575/month. Features a large eat-in kitchen, separate living room, sizable 1-bedroom with attached full bathroom. All units have separate electric, Owner pays cold water for apartments, but heat and hot water are tenants responsibility. The Laundromat features a turnkey business with 15 washers,16 dryers, soda, snack, soap, bag and change machines. Over $110k worth of laundromat equipment and building improvements completed. Located in Overbook area with lots of foot traffic. Conveniently located near bus routes, trolleys and other public transit. Currently running as a passive investment with open/close attendants but owner operator or family owned could absorb the payroll and add more profits to your bottom line. Potential to add a drop off laundry service to increase profits as well. One member of ownership LLC holds an active PA Real Estate License, listing agent and co-listing agent are of no relation and are not members of LLC.

Additional Information

Area
19151 (19151)
Subdivision
Overbrook
Taxes
$1459
Heating
Baseboard - Electric
Heating Fuel
Electric
Cooling
Window Unit(s)
Water
Public
Sewer
Public Sewer

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Keller Williams Main Line Realty.