129 Sumac Street

Description

Welcome to 129 Sumac Street, a well maintained quadraplex on a quiet block in the Wissahickon section of Philadelphia, offering classic craftmanship, thoughtful updates, and strong investment potential. This is the perfect property to add to your real estate portfolio or to live in as an owner occupant looking to offset the mortgage with rental income. All units are currently occupied, providing an immediate annual rental income of $59,400. Some of the many architectural details include a distinctive mansard roof, imposing stone construction, three bay windows, interesting millwork, high ceilings, two covered porches, and a beautiful vestibule with original tile work. The property consists of four 1 bedroom/1 bath units. The first floor rear apartment (1R) is a two story apartment with a slate patio and a private entrance from the side covered porch into a renovated kitchen. The kitchen showcases a quartz countertop, ceramic tile backsplash, dishwasher, garbage disposal, gas range, refrigerator, dining area with a chair rail, a closet, and luxury vinyl plank flooring. The cozy living room features a 10 foot ceiling, a chair rail, a door to the main hallway, and a staircase up to the second floor. The second level of 1R boasts a bright, spacious bedroom with a large closet, a ceiling fan, LVP flooring, and an updated ceramic tile bathroom with a bath tub and sink vanity. The first floor front apartment (1F) has its entry from the main hallway. The comfortable living room, with hardwood floors and a ceiling fan, adjoins the kitchen that is equipped with a gas range, garbage disposal, and refrigerator. The large bedroom has a bay window, a ceiling fan, and ensuite ceramic tile bathroom with stall shower. The second floor apartment (2F) and the third floor apartment (3F) each include a living room with a ceiling fan and a coat closet, a dining area, a kitchen with a gas stove, garbage disposal, and refrigerator, and a bedroom with a bay window, a ceiling fan, and an ensuite ceramic tile bathroom with stall shower. Tenants enjoy on-site laundry located in the large basement at no charge, along with shared storage spaces. All 4 apartments have separate electric meters and pay their own electric bill. The owner pays for water and house electric. Unit 1R has its own gas meter for gas heat, gas hot water, gas stove, and gas dryer and is billed separately. Units 1F, 2F, and 3F have central heat that is paid for by the landlord. There are 2 washers and 2 dryers in the basement. One set is for the use of the tenant in 1R and is paid for by that tenant. The second set is for the use of the other tenants and is paid for by the landlord. Major improvements in the last 10 years include the fire alarm system that is inspected annually, new steel chimney liner for main oil furnace, basement oil tank replaced, newer roof, new sidewalks, newer domestic gas hot water heaters, all double hung windows were replaced with vinyl insulated glass windows, newer glass block basement windows, updated kitchens with newer appliances, updated bathrooms, new LVP floors, and refinished wood floors and staircases. Ideally situated within a short walk to the Wissahickon Regional Rail Station and the newly opened Wissahickon Transit Center and close to I-76 and Route 1, commuting is a breeze to center city and elsewhere. This premium location is just minutes away from Main Street Manayunk's renowned restaurants, shopping, and vibrant night life and several universities, including PCOM, Thomas Jefferson U. East Falls, and Drexel U. College of Medicine. Nature is at your doorstep with easy access to nearby parks and scenic hiking trails, including the breathtaking Wissahickon Valley Park and Schuylkill River Trail, Kelly and MLK Drives and the historic homes of Fairmount Park. This property offers the perfect blend of urban convenience and natural beauty. Don't let this opportunity pass you by. Make your appointment today.