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Key Details
Sold Price $313,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 4,653 sqft
Price per Sqft $67
Subdivision Frankford
MLS Listing ID PAPH2358996
Sold Date 08/13/24
Originating Board BRIGHT
Year Built 1930
Annual Tax Amount $2,437
Tax Year 2023
Lot Size 2,672 Sqft
Acres 0.06
Lot Dimensions 22.00 x 124.00
Property Description
Three-story building (4,653 sq/ft) with four units on bustling Frankford Avenue. High CAP rate and ROI potential. Commercial/residential mixed-use building is perfect for an investor's portfolio or end-user. First floor consists of retail or office space (currently renting a section out as an apartment). Second floor has a 2-bedroom, 1-bath unit as well as a studio apartment with bathroom in the hallway. Third floor has a large 2-bedroom, 1-bath unit. All tenants are up-to-date with payments and in good standing. Month-to-month leases and there are no deposits to exchange. Rent has not been raised in years. Potential CAP rate of 9%+. New main sewer line in 2024. 1st- and 2nd-story roofs replaced in 2024. Alarm system updated and connected to the city in 2024.
Location
State PA
County Philadelphia
Area 19120 (19120)
Zoning CMX2
Interior
Hot Water Natural Gas, Electric
Heating Central, Heat Pump - Electric BackUp
Cooling Central A/C
Heat Source Natural Gas, Electric, Central
Exterior
Utilities Available Electric Available, Natural Gas Available, Phone Available, Sewer Available
Waterfront N
Water Access N
Accessibility 2+ Access Exits
Parking Type On Street
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871529410
Ownership Fee Simple
SqFt Source Assessor
Security Features Fire Detection System,Security System
Acceptable Financing Cash, Conventional, Negotiable, Other
Listing Terms Cash, Conventional, Negotiable, Other
Financing Cash,Conventional,Negotiable,Other
Special Listing Condition Standard
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Bought with Thao T Nguyen • Keller Williams Real Estate-Montgomeryville