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1551 N Franklin Street

PHILADELPHIA, PA 19122
  • $889,900
  • STATUS: Active Under Contract
  • ON SITE: 81 Days
  • ID#: PAPH2089342
Under Contract
UPDATED: 21 min ago
$889,900
  • 0
    BEDS
  • 0.02
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2020
County:

School Ratings & Info

Description

Fully occupied newer construction mixed-use triplex with 9 years left in tax abatement! Over 4100 total sq. ft. A cash flowing, 4 story corner lot, and located in the booming Olde Kensington area, this property is a great investment opportunity. Bi-level commercial Unit rented for $1,900/mo , residential Unit #1 for $1400/mo, and Unit #2 for $2,400/mo . That is a cap rate of over 7.5%! (investment analysis attached). Unit #1 is on a Month-to- Month in case new owner would like to be owner-occupant. Commercial Unit is a large bi-level unit with separate side entrance, a backyard, a large ADA restroom and a second restroom on the lower level for convenience. Unit 1 is a 1 bed/1 bath apartment with open floor plan, modern energy-efficient appliances, in-unit laundry, and beautiful finishes. Unit 2 is a bi-level 3 bed/2.5 bath apartment which has a spectacular rooftop deck with 360-degree views of the city, master suite, in-unit laundry, and a bonus area that can be used as a dining are, home office space, or just as an open space for entertaining. Some spectacular features include quartz counter-top kitchens, modern appliances, laminate flooring, luxurious vanity and elegantly tiles baths, walk-in closet, fiberglass roof deck, brick facade, high ceilings, security cameras, video doorbell intercom, etc. This is a rare investment opportunity, in a great area, at a great value!

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Carroll Team | Douglas Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-25T15:53:00.75.
www.thecarrollteam.com/homes/126400332
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1551 N Franklin Street PHILADELPHIA, PA 19122

  • Price: $889,900
  • Status: Active Under Contract
  • On Site: 81 Days
  • Updated: 21 min ago
  • ID#: PAPH2089342
0
Beds
0
Baths
0
½ Baths
0.02
Acres
2020
Built
Neighborhood:
Olde Kensington
County:
Philadelphia
Area:
19122 (19122)
School District:
The School District Of Philadelphia
Property Description
Fully occupied newer construction mixed-use triplex with 9 years left in tax abatement! Over 4100 total sq. ft. A cash flowing, 4 story corner lot, and located in the booming Olde Kensington area, this property is a great investment opportunity. Bi-level commercial Unit rented for $1,900/mo , residential Unit #1 for $1400/mo, and Unit #2 for $2,400/mo . That is a cap rate of over 7.5%! (investment analysis attached). Unit #1 is on a Month-to- Month in case new owner would like to be owner-occupant. Commercial Unit is a large bi-level unit with separate side entrance, a backyard, a large ADA restroom and a second restroom on the lower level for convenience. Unit 1 is a 1 bed/1 bath apartment with open floor plan, modern energy-efficient appliances, in-unit laundry, and beautiful finishes. Unit 2 is a bi-level 3 bed/2.5 bath apartment which has a spectacular rooftop deck with 360-degree views of the city, master suite, in-unit laundry, and a bonus area that can be used as a dining are, home office space, or just as an open space for entertaining. Some spectacular features include quartz counter-top kitchens, modern appliances, laminate flooring, luxurious vanity and elegantly tiles baths, walk-in closet, fiberglass roof deck, brick facade, high ceilings, security cameras, video doorbell intercom, etc. This is a rare investment opportunity, in a great area, at a great value!
Exterior Features

Construction Materials Brick VeneerVinyl SidingTile Garage YN No Lot Features Corner Parking Types On Street Property Condition Excellent Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 4130.00 Cooling Central A/C Exclusions Tenant's Personal Property Heating Forced Air Heating YN Yes Net Square Feet 4130.00 Security Features Exterior CamerasFire Detection SystemIntercom

Property Features

Accessibility Features Other Bath ModLevel Entry - MainRamp - Main Level Annual Gross Expense 1690.00 Association YN No Business Type Apartment BuildingRecreationRestaurant/BarStorageSupermarket/Grocery StoreOther Central Air YN Yes Cooling Fuel Natural Gas Electric 200+ Amp Service Elevators 0 Entry Level 1 Gross Income 68400.00 Heating Fuel Natural Gas Hot Water Electric Municipality Philadelphia Navigable Water YN N Net Operating Income 66710.00 New Construction YN No Number Of Units Total 3 Original MLSNumber 801374930166 Owner Pays Taxes - Personal PropertyInsuranceCommon Area Maintenance Ownership Interest Fee Simple Possession 0-30 Days CdImmediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 89.00 Tax Assessment Amount 6400.00 Total Actual Rent 68400.00 Vacation Rental YN No Water Source Public Zoning Cmx-2

Listing courtesy of Keller Williams Philly.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Carroll Team | Douglas Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-25T15:53:00.75.
 
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