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1542 N 15TH Street

PHILADELPHIA, PA 19121
  • $1,249,000
  • STATUS: Active
  • ON SITE: 193 Days
  • ID#: PAPH1021528
UPDATED: 189 min ago
$1,249,000
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1915
County:

School Ratings & Info

Description

Attention savvy investors and developers! This turn key, street to street, corner 6 unit mixed use investment building with huge positive cash flow, offers a value add opportunity and includes an attached lot on Sydenham Street that could easily be subdivided and built into another multi-unit building!. Everyone on 15th Street has done this or are currently building there. What's more is that this asset falls into an opportunity zone, so for developers and investors there are massive tax benefits to be enjoyed. With CMX2 zoning, the possibilities are endless. The building is fully occupied by mostly long term tenants and it generates almost $90,000.00/ year. There is 1st floor coin-op laundry for additional income. The commercial space on ground floor is approximately 800 square feet and includes a powder room; in addition there are 4, 2 bedroom, 1 bathroom apartments and 1, 1 bedroom, 1 bathroom apartment. This handsome building is currently under rented and with a little sweat equity, the monthly income could be increased. So, to sum this up, you get a great cash flow investment with a 7% cap rate, an additional lot suitable for new construction or parking, and it all is located in an Opportunity Zone. This one make sense, Make your move!

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Lee Tessier Team | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-12-04T23:49:34.397.
www.marylandrealestatesearch.com/homes/117561056
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1542 N 15TH Street PHILADELPHIA, PA 19121

  • Price: $1,249,000
  • Status: Active
  • On Site: 193 Days
  • Updated: 189 min ago
  • ID#: PAPH1021528
0
Beds
0
Baths
0
½ Baths
0.08
Acres
1915
Built
Neighborhood:
Temple University
County:
Philadelphia
Area:
19121 (19121)
School District:
The School District Of Philadelphia
Property Description
Attention savvy investors and developers! This turn key, street to street, corner 6 unit mixed use investment building with huge positive cash flow, offers a value add opportunity and includes an attached lot on Sydenham Street that could easily be subdivided and built into another multi-unit building!. Everyone on 15th Street has done this or are currently building there. What's more is that this asset falls into an opportunity zone, so for developers and investors there are massive tax benefits to be enjoyed. With CMX2 zoning, the possibilities are endless. The building is fully occupied by mostly long term tenants and it generates almost $90,000.00/ year. There is 1st floor coin-op laundry for additional income. The commercial space on ground floor is approximately 800 square feet and includes a powder room; in addition there are 4, 2 bedroom, 1 bathroom apartments and 1, 1 bedroom, 1 bathroom apartment. This handsome building is currently under rented and with a little sweat equity, the monthly income could be increased. So, to sum this up, you get a great cash flow investment with a 7% cap rate, an additional lot suitable for new construction or parking, and it all is located in an Opportunity Zone. This one make sense, Make your move!
Exterior Features

Construction Materials Masonry Garage YN No Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 4230.00 Cooling Central A/CWall Unit Exclusions Washer And Dryer Are LeasedAll Tenants Property Heating Forced AirBaseboard - Hot Water Heating YN Yes Inclusions 4 Refrigerators Net Square Feet 0.00

Property Features

Accessibility Features None Assessment Year 2021 Association YN No Business Type Professional Central Air YN Yes Cooling Fuel Electric Electric Expense 420.00 Gross Income 87360.00 Heating Fuel Natural Gas Hot Water Natural Gas Insurance Expense 3000.00 Maintenance Expense 4320.00 Municipality Philadelphia Navigable Water YN N Net Operating Income 68544.00 New Construction YN No Number Of Units Total 6 Operating Expense Includes ElectricInsuranceRepair/MaintenanceWaterOther Original MLSNumber 304624133658 Other Expense 2400.00 Ownership Interest Fee Simple Possession Settlement Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 5273.00 Tax Assessment Amount 376700.00 Tax Lot 44 Total Actual Rent 86400.00 Vacation Rental YN No Water Source Public Zoning Cmx2

Listing courtesy of Keller Williams Philly.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Lee Tessier Team | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-12-04T23:49:34.397.
 
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Lee Tessier Team | eXp Realty
2225 Old Emmorton Rd Suite 207
Bel Air MD, 21015