My Olney rental has a tenant with a lease through next year — can you buy it?
Yes. We buy subject to the existing lease and take over the landlord role at closing. You don't have to evict anyone.
Neighborhood · 19120 · 19141
We buy houses in Olney.
Olney has a lot of 1940s-1960s brick twins and rowhomes, and a lot of them are rentals. Tired landlords and long-term owner-occupants ready to downsize are our main Olney sellers. We buy with tenants in place, as-is, for cash.
Where & What
About Olney
Olney is bounded roughly by Roosevelt Boulevard, Germantown Avenue, and the Wissahickon. It includes Feltonville and Logan on its edges. The housing stock is mostly mid-century — built after World War II for returning veterans and their families.
It's a dense neighborhood with a lot of absentee landlord ownership, which means a lot of tenant-occupied properties. We handle both.
Housing Stock
What the houses look like
Olney housing is mostly 2-story brick twins and rowhomes built 1945-1965. Typical sizes run 1,100-1,500 square feet, 3 bedrooms, 1-1.5 baths, with a basement.
Condition varies. Owner-occupied Olney twins are often in good shape with manageable repair needs ($20,000-$40,000). Rental-held Olney houses often need more ($40,000-$65,000).
Who Calls Us
Common seller situations in Olney
The dominant Olney pattern is tired landlords. Small investors with 1-3 Olney rentals who are done with tenant turnover and maintenance.
Second: aging owner-occupants. Long-term residents who bought in the 70s or 80s and are ready to move closer to family.
Third: inherited tenanted properties. Heirs get a house with tenants already in it and don't want to become landlords.
Offer Math
What we pay in Olney
Olney ARVs are in the middle for Philly. A renovated twin can hit $220,000+. A smaller rowhome might land at $165,000.
Our typical Olney offer runs $55,000 to $105,000 cash. Offers with tenants in place sometimes come in slightly lower to account for tenant transition costs.
Related
Common situations in Olney
Nearby
Adjacent neighborhoods
Olney Questions
Questions we get about Olney
What if the tenant stopped paying rent?
We'll still buy it. We know the Philadelphia landlord-tenant law and we have lawyers who handle non-payment situations. You hand over the lease, we handle the rest.
Do you buy in Feltonville and Logan?
Yes. Those neighborhoods border Olney and we've closed houses in both.
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