Price Reduction
Listed By:
RE/MAX Truist
Address
2347 E Somerset Street, Philadelphia, PA
Price
$ 1,349,000
Property Attributes
  • MLS#PAPH2342586
  • TypeMulti-Family
  • CountyPHILADELPHIA
  • CityPhiladelphia
  • Area19134
  • NeighborhoodPort Richmond
  • Zip19134
  • Style
  • Year Built1925
  • Taxes$ 2242
  • Price$ 1,349,000
  • Bedrooms4
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.11 Acres
Data Source:
Bright MLS
Property Description

Included in this enticing package are three properties to be sold together: a mixed-use townhome (2347) alongside two residential properties (2345-2343). With 2347 Somerset St. previously being a mixed-use pizza shop, all of the equipment is included, giving a fully equipped pizza shop. Boasting a prime location just off Aramingo Ave., these properties offer convenience and accessibility, with a remarkable walking score of 80. Tenants will relish the proximity to local favorites such as Tacconelli's and Stock's Bakery, as well as the vibrant shopping destination of Fishtown Crossing, which boasts nearly 30 shops, including GNC, Hair Cuttery, Starbucks, and IGA Supermarket, just a short stroll away. This turnkey pizza shop, combined with the potential for mixed-use development, presents a compelling proposition for those seeking to maximize their investment potential in Philadelphia's dynamic real estate landscape. Investors have the exciting opportunity to capitalize on the potential for converting the single units within the property package at 2347-45-43 E. Somerset Street into multi-family residences or commercial mixed-use (CMX) spaces. Leveraging the strategic location just northeast of the Conrail tracks in Port Richmond, Philadelphia, these properties offer a fertile ground for innovative development. Whether it's reimagining the existing mixed-use townhome (2347) or repurposing the adjacent residential properties (2345-2343) into multi-family apartments or flexible CMX spaces, the prospects for adaptive reuse are vast. Total square footage for building improvements is 4,696 soft including all three properties (2343: 1504 sqft; 2345: 1692 sqft; 2347: 1500 sqft). Total land square footage is 4816 sqft including all three properties (2343: 1173 sqft; 2345: 1320 sqft; 2347: 2323 sqft).

Price History
4/12/2024 Listed $1,395,000
5/7/2024 4% - $1,349,000

General Features

Sewer Public Sewer
Heating 90% Forced Air
Cooling None
Possession 31-60 Days CD,0-30 Days CD,Immediate
Zoning CMX1
Architectural Style Other
Construction Materials Masonry
Year Built 1925
Property SubType Other
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel None
Accessibility None
County PHILADELPHIA
New Construction No
Property Type Multi-Family
Subdivision Name PORT RICHMOND
Garage Y/N No
Water Access Y/N No
Other Structures Above Grade,Below Grade
Status ACTIVE
Directions Use GPS.
ModificationTimestamp 2024-05-18T08:47:10
City PHILADELPHIA
Buyer Agent Compensation 2.5
Total Units 2
MLS Area 19134 (19134)
Lot Size Square Feet 4816.00
Tax Assessed Value 160200.0
Waterfront Y/N No
Street Name SOMERSET
Tax Annual Amount 2242.0
Structure Type End of Row/Townhouse
Single Room Units Count 3
One Bedroom Units Count 4
Price Per Sq Ft Total 899.33
Vacation Rental Y/N No
Total SQFT 1500
Days on Market 37
Standard Status Active
Year Built Source Assessor
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Natural Gas
Hot Water Natural Gas
Heating Y/N Yes
Fireplace Y/N No
Street Suffix STREET
Central Air Y/N No
LivingAreaSource Assessor

Exterior Features

Pool No Pool
Water Source Public
Inclusions Pizza shop equipment included.
Type of Parking On Street
Land Use Code S30
Foundation Details Other
Water View Y/N No
Lot Dimensions 57.00 x 73.00
Lot Size Acres 0.11
Lot Size Units Square Feet
Lot Size Source Estimated
Land Assessed Value 32040.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Estimated

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 Multi-Family Average in 19134

Price
AVG $300K
$1.35M
Taxes
AVG $2,109
$2,242
Visits
AVG 312
258
Data Provided by Inside Real Estate®
Year Built
AVG 1924
1925