Bought with CAITLIN LENNON • AVENUE REALTY, LLC
$1,250,000
$1,349,999
7.4%For more information regarding the value of a property, please contact us for a free consultation.
9,000 SqFt
SOLD DATE : 03/15/2022
Key Details
Sold Price $1,250,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 9,000 sqft
Price per Sqft $138
Subdivision Germantown
MLS Listing ID PAPH2033082
Sold Date 03/15/22
Year Built 1927
Annual Tax Amount $2,448
Tax Year 2021
Lot Size 9,564 Sqft
Acres 0.22
Lot Dimensions 63.76 x 150.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
This massive 8500 SF nine (9) unit apartment building is fully leased in the historic Germantown section of Philadelphia, Pennsylvania. Units have been recently renovated by Ownership and are turnkey, low maintenance, with low expenses. 7.03% in place cap rate. Huge rental upside for new Ownership as rental rates have not been increased in 5 years. Careful combination of 1, 2 and 3-bedroom apartments with lush rear yard and 5-car garage for additional rental income. Dramatic corner lot with commanding area presence. Emerging area surrounded by dozens of new developments in the blossoming Northwest Philadelphia district - located right off the historic cobblestones of Germantown Avenue with access to amenities, shops, parks and more. Approximately 5 years remaining on tax abatement.
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning RSA3
Interior
Hot Water Natural Gas
Heating Central
Cooling None
Heat Source Oil
Exterior
Garage Spaces 5.0
Water Access N
Roof Type Shingle
Accessibility None
Total Parking Spaces 5
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881207050
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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