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Key Details
Sold Price $931,595
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 2,805 sqft
Price per Sqft $332
Subdivision Temple University
MLS Listing ID PAPH965670
Sold Date 11/05/21
Style Straight Thru
HOA Y/N N
Abv Grd Liv Area 2,805
Originating Board BRIGHT
Year Built 2020
Annual Tax Amount $451
Tax Year 2021
Lot Size 1,536 Sqft
Acres 0.04
Lot Dimensions 15.50 x 99.09
Property Description
Welcome to this amazing turnkey investment opportunity in a booming neighborhood surrounded by new construction. This is a legal 4-unit new construction property with a FULL 10-Year TAX ABATEMENT that is slated for completion by January 2021. This property is massive and runs street to street from 8th Street to Darien Street providing for convenient access from either side of the building. Unit 1 is a 4 bed, 2 bath bi-level unit including the basement and first floor. The basement features 2 bedrooms, 1 full bathroom, mechanical room, laundry room, storage and a den. The 1st floor includes a living room, dining room, modern and luxurious kitchen, full bathroom and 2 bedrooms. Units 2-4 are 2 bed, 1.5 bath units that are identical in layout. You enter the unit from the common area stairwell and will find a bright living room and powder room towards the front of the floor plan. Back near the entrance you will find the dining room and kitchen combo. Past the kitchen in the hallway, you will find the mechanical room and laundry room. In the middle of the floor plan there is a large bedroom, a full bathroom and another large bedroom to the back of the building. The back part of the building features a metal staircase providing access to each unit and to the common area outdoor patio space. The back patio can feature a bike rack for the residents of the property. This amazing investment opportunity has a projected rental income of $8,000/month which results in nearly a 7% CAP rate. Please see attached building plans for more details on the property. All square footage numbers are approximate and should be verified by the buyer. It is the responsibility of the buyer to verify real estate taxes.
Location
State PA
County Philadelphia
Area 19122 (19122)
Zoning RM1
Rooms
Basement Fully Finished
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Straight Thru
Additional Building Above Grade, Below Grade
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Tax ID 202113800
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Jerome J. Washington • Neighborhood Assistance Corp. of America (NACA)