Bought with Julie Anne Twomey • Keller Williams Realty - Moorestown
$498,000
$739,000
32.6%For more information regarding the value of a property, please contact us for a free consultation.
8,000 SqFt
SOLD DATE : 07/03/2023
Key Details
Sold Price $498,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $62
MLS Listing ID PAPH2236954
Sold Date 07/03/23
Originating Board BRIGHT
Year Built 1950
Available Date 2023-05-20
Annual Tax Amount $5,585
Tax Year 2022
Lot Size 5,000 Sqft
Acres 0.11
Lot Dimensions 50.00 x 100.00
Property Sub-Type Five Or More Units
Property Description
RARE opportunity to own this legal 7-unit, 8,000 sq. ft. apartment building in Tacony at an 7.8% cap rate! $6,700 rent roll (under market), with plenty of upside once rents are raised to market. The property is located less than 5 minutes from I-95, just off of the bustling Torresdale commercial corridor. All units are 2 bed/1 bath, majority having been updated in the last three years with finishes that include vinyl & tiled flooring, led lighting, new paint, energy-efficient toilets, new vanities, tiled bathrooms, etc. New roof was installed in 2021 (transferrable warranty in place). Coin operated washer and dryer may be added in the basement for additional income or space can be rented to tenants to additional storage. All separate utilities except water. Fully occupied with leases through November 2023 – April 2024. Two leases are M2M with tenants in-place since 2015 & 2019. Incredible opportunity for new and seasoned investors alike! Reach out for more details.
Location
State PA
County Philadelphia
Area 19135 (19135)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Central
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881142836
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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