63rd st- 3 buildings 26 total units fully renovated and stabilized. Studios with luxury finishes, kitchens, bathrooms in each unit with heavy cashflow and potential cost segregation study (35% of sale price accelerated depreciation) 205 (14 unit), 207 (7 unit), 211 (5 unit) N 63rd St
All are actively leased for short - mid term rentals as boutique hotel. $35,000/mo gross income.
You can see the listings here with photos
https://www.hotels.com/ho3740106336/lodgyy-studios/
2624 Germantown Ave Philadelphia - Mixed use, just renovated. 4 unit, 3 resi, 1 commercial. 4th building just renovated, like new construction. To be leased
With the hotel strategy and 26 kitchens and bathrooms, the cost segregation could be a very strong opportunity for tax savings of approximately $1.1M in tax credits.
Please find attached:
- Slide deck for 205 N 63rd - 14 unit.
- 205 N 63rd St P&L for from sellers booking software
- 211 N 63rd St P&L 5 unit. Also had two long term rentals bringing in a total of $2200/mo. Recently renovated and converted all to short term rentals.
Current income is approximately $35k/mo. Once Germantown Ave is rented the income will avg $40k+/mo.