Listed By:
RE/MAX One Realty - TCDT
Address
1216 South Street, Philadelphia, PA
Price
$ 849,900
Property Attributes
  • MLS#PAPH2350376
  • TypePending
  • CountyPHILADELPHIA
  • CityPhiladelphia
  • Area19147
  • NeighborhoodWashington Sq West
  • Zip19147
  • StyleTraditional
  • Year Built2006
  • Taxes$ 9213
  • Price$ 849,900
  • Bedrooms4
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.03 Acres
Data Source:
Bright MLS
Property Description

This is your opportunity to own a triplex in an incredibly convenient location! The building consists of two nearly identical 2 bed/2 bath units on the 2nd & 3rd floors, with a versatile 15 foot wide commercial space on the first floor ready to capture an immense amount of vehicle and foot traffic. When fully occupied, this property produces a solid 6% cap rate and net cash flows of nearly $4,300/mo (P&L included in the documents tab). The 2nd/3rd floor apartments are leased and the 1st floor commercial space has been prepped and is now ready for a new tenant. The commercial space is currently listed for rent, but the unit can be delivered vacant if the buyer wishes to operate their own business out of the 1st floor. The upstairs apartments span the entire length of the building and have ideal barbell layouts with the bedrooms on opposite ends of the apartments. These units check all the boxes with Central AC, in-unit laundry, and dishwashers. Each bedroom has its own dedicated full bathroom, with the large kitchens, dining rooms, and living rooms in between. Once you step outside of the apartments the location almost can't get any more convenient as evidenced by the WalkScore of 97 and TransitScore of 100! Not only is the location surrounded by bus routes (45 NB/SB & 40 EB/WB), but its also < 2 blocks from the Broad St. Line subway. It's also one of the unique areas in the city with multiple large grocery stores within a couple blocks as well; Whole Foods & Acme. Not to mention the nearby local favorites Roxanne BYOB, Jiggy Coffee, Brauhaus Schmitz, Angelo's Pizzeria and so many more!

Elementary School Middle School High School
Jackson Andrew Elementary School Jackson Andrew Middle School Furness Horace High School
Price History
5/15/2024 Listed $849,900

General Features

Interior Features Wood Floors,Sprinkler System,Store/Office
Sewer Public Sewer
Heating Central
Cooling Central A/C
Possession Settlement
Zoning CMX2
Architectural Style Traditional
Security Features Sprinkler System - Indoor,Intercom
Construction Materials Masonry
Exclusions Tenants' furniture & belongings
Year Built 2006
Property SubType Triplex
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Natural Gas
Contingency Type Appraisal
Accessibility None
County PHILADELPHIA
Net Operating Income 51217.00
New Construction No
Property Type Multi-Family
Subdivision Name WASHINGTON SQ WEST
Garage Y/N No
Water Access Y/N No
Other Structures Above Grade
Status PENDING
Directions Heading east on South St.,property will be on your righthand side.
ModificationTimestamp 2024-06-12T07:50:54
City PHILADELPHIA
Buyer Agent Compensation 2.5
NumberOfUnitsTotal 3
MLS Area 19147 (19147)
Lot Size Units Square Feet
Lot Size Square Feet 1119.00
Tax Assessed Value 658200.0
Waterfront Y/N No
Number of Units Leased 2
Tax Annual Amount 9213.0
Property Condition Good
Two Bedroom 2
Structure Type Over Storefront
Single Room Units Count 1
NumberOfUnitsVacant 1
Other Units Unit 1,Unit 2,Unit 3
Price Per Sq Ft Total AG 300.11
Acceptable Financing Cash,Conventional,FHA,FHA 203(b),FHA 203(k),VA
Vacation Rental Y/N No
Total SQFT 3870
Days on Market 14
Lease Type Yearly
Standard Status Pending
Year Built Source Assessor
Tax Lot 79
Cap Rate 6.03
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Natural Gas
Basement Drainage System,Sump Pump,Unfinished
Flooring Hardwood
Hot Water Electric
Basement (Y/N) Yes
Heating Y/N Yes
Central Air Y/N Yes
LivingAreaSource Assessor

Exterior Features

Pool No Pool
Water Source Public
Inclusions Refrigerators,washers/dryers
Type of Parking None
Land Use Code Y50
Water View Y/N No
Lot Dimensions 15.00 x 75.00
Lot Size Acres 0.03
Lot Size Source Assessor
Land Assessed Value 131600.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 19147

Price
AVG $260K
$850K
Taxes
AVG $5,780
$9,213
Visits
AVG 291
304
Data Provided by Inside Real Estate®
Year Built
AVG 1961
2006