16 E SPRINGER ST Under Contract Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19119
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Under Contract
Purchase Type For Sale
Square Footage 2,783 sqft
Price per Sqft $269
Subdivision Mt Airy (East)
MLS Listing ID PAPH2509682
Style Victorian,Other
Year Built 1890
Annual Tax Amount $9,970
Tax Year 2024
Lot Size 2,783 Sqft
Property Sub-Type Detached
Property Description
Beautiful, unique 1880's grain mill building fully renovated and converted into three (3) spacious two-bedroom, one bath apartments with a huge adjoining/attached workshop/warehouse/studio space with driveway. Located in the desirable Mt. Airy neighborhood of Philadelphia, all three apartments are thoughtfully and fully renovated, each featuring the unique exposed original wood beams from the grain mill and many large windows in each unit that give great natural light in every area of the space. Each apartment is approximately 1,200 SF with open floor plans, in excellently maintained condition, with central HVAC, in-unit private laundry, and wood plank flooring. All utilities are separated - tenants pay HVAC, electric, gas, hot water. The bonus large commercial-grade (owner-occupied) workshop space has massive potential, with an estimated projected rent of at least $1,500/month. The workspace has a concrete slab floor, high 13' ceiling height, and a large overhead garage door and is very secure. Gross yearly rental income ($72,000) includes projected garage/studio space rent of $1,500 per month, making this a fabulous investment or even potentially a mixture of an owner-occupied situation. This is a cash-flow positive property that is in great condition, with all systems (plumbing, electric, etc.) fully replaced and modernized, low maintenance, and easy renting in a top neighborhood with high demand from an excellent rental pool. The perfect opportunity for both new and seasoned investors seeking a stable, income-generating multifamily property in a prime location near a popular commercial strip with a grocery store, restaurant, cafe, retail, and a bakery just a half block away. Truly unlike any other triplex in the area with its original charm that has been lovingly maintained during the current owners' 40+ years of ownership.
24 HOUR NOTICE required for showings due to the property being fully occupied by excellent tenants. All showings through agent.
Location
State PA
County Philadelphia
Area 19119 (19119)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Hardwood,Wood
Inclusions All Appliances
Equipment Dishwasher,Dryer - Gas,Exhaust Fan,Oven/Range - Gas,Range Hood,Refrigerator,Washer,Washer/Dryer Stacked
Exterior
Parking Features Additional Storage Area,Garage - Side Entry,Oversized,Inside Access
Garage Spaces 8.0
Water Access N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard