6228 Algon Avenue

A rare opportunity has arrived in Oxford Circle. Ideal for investors and a great opportunity for first-time home buyers looking to offset their mortgage with rental income. This well-maintained multi-family property offers a 1-bedroom, 1-bathroom first-floor apartment and a 2-bedroom, 1-bathroom second-floor apartment, each with its own full kitchen. Based on current market conditions, the property offers projected gross annual rental income of approximately $31,000$36,000, subject to buyer verification. Offering approximately 1,600 square feet of living space on a 2,285 square foot lot, the property has been thoughtfully maintained and improved over the years. The property also includes a basement currently used for laundry and storage, along with a separate rear entrance that adds flexibility and potential for future use, subject to buyer diligence. The garage accommodates one-car parking, and the driveway provides an additional parking space. Recent upgrades and improvements include a remodeled second-floor bathroom, an updated first-floor kitchen with new appliances and granite countertops, upgraded electrical service with new breaker boxes, Renewal by Andersen windows, and a roof replacement completed in 2018. Additional features include an extended front patio, commercial-grade carpeting in the second-floor unit, and modern appliances upstairs. Please note: the property does not have central air. Located on a block with several investor-owned and professionally managed properties, the home benefits from the areas consistent rental demand. It is also conveniently situated near multiple SEPTA bus routes, with easy access to the Frankford Transportation Center and Center City Philadelphia. Nearby neighborhood amenities include a bodega with fresh groceries and produce as well as a nearby halal market.