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Key Details
Sold Price $3,080,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,494 sqft
Price per Sqft $410
Subdivision Queen Village
MLS Listing ID 1003650363
Sold Date 07/14/17
Style Other
HOA Y/N N
Abv Grd Liv Area 7,494
Originating Board TREND
Year Built 1918
Annual Tax Amount $10,218
Tax Year 2017
Lot Size 1,608 Sqft
Acres 0.04
Lot Dimensions 38X85
Property Description
Location, Location, Location!! This high traffic, double wide 7500 square foot Queen Village building spans from 4th Street to Leithgow Street and contains eight high end completely renovated apartments (four two bedrooms, and four bi level one bedrooms) and 2 commercial spaces with credit tenants, with long term leases ( currently the UPS store and a Nail salon), all completely rented.This building offers a True 6% cap rate, and a much higher cash on cash return than having your money in the bank, with upside every year. These spaces were gut renovated in 2014-2015 and equipped with high end everything including hardwood floors, granite, stainless and cherry kitchens, gorgeous designer tile bathrooms, central air conditioning, multiple fiberglass roof decks, video intercoms, and the entire buildings are sprinklered and alarmed. There is a private, gated entrance for the tenants on Leithgow Street, and the stores have multiple means of egress. All of the utilities are separated and the responsibility of the tenants including water. The ten year tax abatement runs until August 2024. Please check the documents section for more detailed financial income and expense information. Leases available upon request.
Location
State PA
County Philadelphia
Area 19147 (19147)
Zoning CMX3
Rooms
Other Rooms Primary Bedroom
Basement Full
Interior
Hot Water Natural Gas
Heating Gas, Electric
Cooling Central A/C, Wall Unit
Fireplace N
Heat Source Natural Gas, Electric
Laundry None
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871299230
Ownership Fee Simple
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Bought with Richard Q Li • Liberty Real Estate