I've worked with alot of NY investors who have completed flips and long term cash flowing rental properties in the Temple University Hospital area as well as TU Main Campus.
Please feel free to contact me to discuss your project. I can help you comp out the units and project realistic market rent rolls to use in your financial analysis.
All the best,
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell/Text: (267) 254-7994
2200 Walnut St.
Phila, PA 19103
R. Eric Axelson, Associate Broker
Licensed in NJ and PA
Luxury Home Specialist
Kurfiss Sotheby's International Realty
856.617.1212 in NJ
267.507.2287 in PA
Award-Winning, Multi-Million-Dollar Producer
Most Prestigious Real Estate Company, Luxury Institute
your question begs more questions for any kind of useful answer.
To guestimate yourself - try zillow et al. IMO the least valuable in an investment property scenario as you are unlikely to have the anwers to the questions below, about your place.
1. Rented or Vacant. - and if rented the leases and financials
2. "Rennovation" lipstick (paint carpet) or real work - systems new(er) etc.
3. Utilities - owner pays, tennant pays - or some kind of split.
All critical questions that dramatically change any true picture of value.
Want good numbers. Hire a realtor from the area experienced with investment properties, not the king or queen of (my beautiful) owner occupied re-sale homes. that is me, and others who post anwers.
Contact me if you'd like to talk further
Long & Foster Real Estate
It sounds like very unique property. It depends not only on the comps but what the rental rates will be.
You may want to consider having a professional appraisal done after you complete renovations & check out the rental comps since any investor/purchaser is going to look at cap rate/cash flow first.
If I can be of further assistance, please get in touch.
Barbara L Smith
NJ & PA Licensed Agent
Your best bet would be to select a local Philadelphia agent and work with him/her on your goals for this project. If you need any help determining values for Philadelphia investment opportunities, please let me know.
All of my contact information is listed below.
Timothy Garrity | Realtor & Consultant
Licensed Real Estate Salesperson - #RS314897