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Key Details
Sold Price $150,500
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,362 sqft
Price per Sqft $63
Subdivision Germantown (East)
MLS Listing ID PAPH2298302
Sold Date 09/17/24
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $2,031
Tax Year 2024
Lot Size 1,726 Sqft
Acres 0.04
Lot Dimensions 17.00 x 103.00
Property Description
Welcome to an exceptional investment opportunity situated in the heart of Germantown Ave, Philadelphia! This distinguished property, zoned as CMX2, offers a blend of commercial and residential space, presenting an enticing prospect for savvy investors and developers. Nestled in the vibrant hub of Germantown Ave, this property enjoys high visibility and foot traffic, contributing to its commercial potential.The first floor boasts a long-term tenant occupying a well-established barbershop. With over 15 years of occupancy, this steady income source generates $1,050 per month, showcasing stability and reliability.The upper levels feature a bi-level apartment spanning the second and third floors. This versatile space comprises 3 bedrooms, a comfortable living area, an eat-in kitchen, and a full bathroom. Ideal for potential renters seeking a spacious and accommodating living arrangement in a bustling neighborhood.While the property may require some refurbishment and updates, it presents an exceptional investment opportunity. With the right vision and improvements, this property has the potential to increase its value significantly.Whether you're an investor looking to hold and generate steady rental income from the existing setup or a developer keen on rehabilitating and flipping the property for a substantial profit, this versatile space caters to various investment strategies.Located in a lively neighborhood with diverse businesses, restaurants, and amenities nearby, ensuring convenience and attraction for both commercial and residential occupants.The CMX2 zoning allows for a range of commercial uses, encouraging flexibility and diverse business opportunities for potential buyers. With its proximity to Germantown Ave, an area experiencing revitalization and growth, this property holds the promise of increased value over time.This property invites those with a discerning eye for real estate opportunities. Whether you aim to enhance its current offerings or reimagine its potential, the possibilities here are vast.Seize this chance to invest in a property with an established income stream, residential potential, and significant upside. Contact us today to explore this captivating opportunity on Germantown Ave and embark on a rewarding real estate venture!
Location
State PA
County Philadelphia
Area 19140 (19140)
Zoning CMX2
Interior
Hot Water Electric, Natural Gas
Heating Radiator
Cooling None
Flooring Hardwood, Other
Heat Source Natural Gas, Electric
Exterior
Utilities Available Cable TV Available, Electric Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Waterfront N
Water Access N
Roof Type Flat
Accessibility 2+ Access Exits, Other
Parking Type On Street
Garage N
Building
Foundation Brick/Mortar, Slab, Other
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Edward T Steel School
Middle Schools Grover Cleveland School
High Schools Simon Gratz
School District The School District Of Philadelphia
Others
Tax ID 871519610
Ownership Fee Simple
SqFt Source Assessor
Security Features Carbon Monoxide Detector(s),Smoke Detector
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Jibri Bond • Peters Gordon Realty Inc