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We bought this house in Philadelphia

3301 W Allegheny Ave Philadelphia, PA 19132

Brotherly Love Real Estate

Purchase of 3301 W Allegheny Ave

This property is a mixed-use triplex in Philadelphia. The neighborhood is Allegheny West.┬áThe first unit on the bottom floor is a barber shop, known as Q T’s Barber Shop. The current tenants and business have been there for years. Local community members sing high praise about them. The second floor was recently renovated and is currently an operating hair salon. The third floor of this house we bought is a 2 bedroom residential unit.

 

Since this property is on the corner, it is larger than many other homes on the block. Each tenant has ample space to either run their business, or simply live! The real estate in Allegheny West is completely shifting. There is new construction beginning to pop up, and a large apartment building is being built up the road.

Brotherly Love Real Estate

How We Bought This House

The previous owner was an experienced landlord who bought multiple properties in Philadelphia. He had owned 3301 W Allegheny Ave for several years and was tired of managing it. The property did very well for him. However, he was ready to sell his property because he was nearing retirement. Truthfully, does any entrepreneur ever actually retire? At least that is what he told us.

3 Reasons We Purchased This Property

  1. Appreciation of real estate in this part of Philly
  2. Rental income from 3 tenants
  3. Interested in buying apartments and larger multiunit properties

 

Brotherly Love Real Estate

We Buy Houses and Apartments in Philadelphia

This photo was taken during the renovations of unit 2 of 3301 W Allegheny Avenue. The tenant did an incredible job fixing it up. Although this was our first time buying a mixed-use building in Philadelphia, we did not regret it. The tenants have been great so far. Filling vacancies has been challenging, but overall it has been a fairly easy property to manage. The initial mindset that our team had was that we buy houses in Philadelphia but avoid commercial properties. Buying this house completely changed our thoughts on this. We hope to buy more houses like this in Philly moving forward.

 

If you need to sell a house fast, we will buy it for cash. You won’t need to worry about repairs, or cleaning up the home. We handle that. Give us a call to receive a cash offer today (215) 769-9875.

 

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