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Key Details
Sold Price $435,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 4,368 sqft
Price per Sqft $99
MLS Listing ID PAPH2388270
Sold Date 09/27/24
Style Other
Abv Grd Liv Area 4,368
Originating Board BRIGHT
Year Built 1910
Annual Tax Amount $3,807
Tax Year 2024
Lot Size 2,000 Sqft
Acres 0.05
Lot Dimensions 20.00 x 100.00
Property Description
Turnkey Mixed Use Investment Opportunity - Over 11% CAP Rate! The sale includes parcels: 453312700, 453128900, and 871571840. This fully occupied property presents an incredible investment opportunity with a capitalization rate (CAP rate) exceeding 11%. Located in the Bridesburg neighborhood this sale includes the parking lot at 2795-97 Kirkbride Street, this property is a rare find, combining commercial and residential income streams. Property Features: Bar/Restaurant: Monthly Rent: $4000 Lease: 5-year term with a reliable tenant ensuring steady income. Residential Units: 1 Bedroom Apartment: $700/month 5 Bedroom Apartment: $2000/month Both units are updated with hardwood floors and newer appliances, providing a modern and comfortable living experience for tenants. Additional Income: Parking Lot: $650/month rental agreement Adds value and convenience for tenants and potential additional revenue. The CAP rate for this property with a purchase price of $599,000, considering 10% for general expenses and 5% for vacancy expenses, is approximately 11.52%. Key Highlights: Turnkey investment with minimal immediate maintenance required Fully occupied with reliable tenants Updated rental units with hardwood floors and newer appliances Additional revenue from a private parking lot and city rental agreement This property is perfect for investors seeking a high return with stable, diversified income. Don’t miss out on this exceptional opportunity! For more information or to schedule a viewing, please contact us today.
Location
State PA
County Philadelphia
Area 19137 (19137)
Zoning RSA5
Interior
Hot Water Natural Gas
Heating Radiant
Cooling Wall Unit
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 453312700
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition REO (Real Estate Owned)
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Bought with Derek Fulforth • KW Empower