$250,000
$299,000
16.4%For more information regarding the value of a property, please contact us for a free consultation.
3,081 SqFt
SOLD DATE : 08/31/2021
Key Details
Sold Price $250,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 3,081 sqft
Price per Sqft $81
Subdivision Philadelphia (Northwest)
MLS Listing ID PAPH972186
Sold Date 08/31/21
HOA Y/N N
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $2,618
Tax Year 2021
Lot Size 1,360 Sqft
Acres 0.03
Lot Dimensions 17.00 x 80.00
Property Description
10+ cap just west of Temples campus. Just reduced, large 3-story CMX-1 corner property with ground floor commercial space and two 2-bedroom apartments upstairs. Tons of income potential in this blue-chip property located at a busy North Philly intersection. 1st floor commercial space is currently vacant with 2 separate entrances and access to the basement. Last tenant was renting just the back half of the space for $1,000/month. Vacant 2 bed, 1-bath apartments on the 2nd and 3rd floors are very large and should get $1,200/month when lightly renovated. They each have separate forced air HVAC systems with central air. These units are in decent shape and can quickly be rent-ready. Generate cash flow upstairs while you prepare the commercial space for your next tenant. Tons of exposure at a busy intersection with active beer distributor and grocery at other corners. Great long-term investment on a 17x80 lot. Do the math, conservative 10+ cap with potential to be a 14+ cap with the right tenants. Tremendous opportunity for a savvy investor. Schedule your showing, will not last!
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning CMX1
Interior
Hot Water Natural Gas
Heating Forced Air, Baseboard - Electric
Cooling Central A/C
Heat Source Natural Gas, Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871522390
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Bryan J Capone • KW Philly
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "