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Listing ID: PAPH2169710
Price: $499,000
Status: ACTIVE UNDER CONTRACT
Address: 1247 S 53Rd Street
City: Philadelphia
State: Pennsylvania
Postal Code: 19143
SqFt: 2,900
Acres: 0.040
County: Philadelphia
Philadelphia
PA
19143
COMPLETELY RENOVATED in 2019, 1247 S 53rd St is a 3 Residential Unit, TRIPLEX investment opportunity generating significant cash flow in Philadelphia. Inquire for Marketing Packet!! The property is located in one of the MOST DESIRABLE sections of the city, the Kingsessing neighborhood. This location is FANTASTIC. The property is surrounded by numerous amazing universities (St. Joseph’s University - City Campus, University of Penn, and Drexel University) and major hospitals (CHOP and Penn Hospital). It is also located within a short walk to great public transportation including Trolley Lines 13 and 34, and you are just steps from THE BEST Commercial Corridor in the city, Baltimore Avenue. This will be an incredible investment opportunity for years to come. The property is complete with an ideal unit mix. Unit 1 is 2 Bedrooms and 2 Full Bathrooms with additional den / office spaces, Unit 2 is 2 Bedrooms and 1 Full Bathroom, and Unit 3 is 1 Bedroom and 1 Bathroom. The price, size, and condition of the property attracts very good tenants of all different types. Pride of ownership is obvious at this property. The owner has self-managed meticulously. ALSO, there are so many options with this property! This is a perfect purchase for an investor, great cash flow and so much upside. This is also ideal for an owner-occupant! Unit 2 has been intentionally left vacant in the event the Buyer will occupy the unit. Live in one unit and the tenants will pay most of the expenses for the property. Contact us so we can walk you through the numbers! Do not wait long, this WILL NOT LAST!! Tax abatement in process, should be approved shortly! Tax abatement will last through 12/31/2030.

Primary Features

County: Philadelphia
Price/SqFt: 172.07
Property Sub Type: Other
Property Type: Commercial Sale
Subdivision: KINGSESSING
Year Built: 1917
Zoning: RSA3

Interior

Building Total SqFt Source: Estimated
Central Air: yes
Cooling Type: Ductless/Mini-Split, Ceiling Fan(s), Central A/C
Flooring Type: Tile/Brick, Hardwood
Heating: yes
Heating Type: Heat Pump(s), Wall Unit

External

Building Units Total: 3
Construction Materials: Masonry
Cooling Fuel: Electric
Foundation Details: Stone, Concrete Perimeter, Slab
Heating Fuel: Electric
Hot Water: Electric
Lot Dimensions Source: Estimated
Lot Features: Rear Yard
Lot Size Dimensions: 19.00 x 100.00
Lot Size Source: Estimated
Lot Size Units: Square Feet
Navigable Water: no
New Construction: no
Roof: Shingle, Rubber
Sewer Septic: Public Sewer
Tidal Water: no
Type of Parking: On Street
Water Access: no
Water Oriented: no
Water Source: Public
Water View: no

Location

Country: US
MLS Area: 19143 (19143)
Municipality: PHILADELPHIA
Transportation: Airport less than 10 miles, Bus Stop less than 1 mile, Metro/Subway Station less than 1 mile, Commuter Rail Station 1 to 5 miles
Waterfront: no
Zoning Description: 3 Residential Units.

Additional

Accessibility Features: None
Building Classification: Class A
Business Type: Apartment Building
Days on Market: 19
Land Use Code: H50
Potential Tenancy: Multiple
Property Condition: Excellent
Property Use: Investment
Year Assessed: 2022
Year Built Source: Estimated

Financial

Acceptable Financing: Conventional, Cash, VA, FHA
Association Recreation Fee: N
Automatically Update Tax Values: no
Cap Rate: 7.52
Exclusions: All tenant belongings.
Gross Scheduled Income: 48000
Ground Rent Exists: no
Income Includes: Apartment Rentals
Net SqFt: 2900
Operating Expense Includes: Insurance, Repair/Maintenance, Sewer, Water
Other Expense: 2332
Ownership Interest: Fee Simple
Possession: Negotiable, Immediate
Riparian Rights: no
Sale Type: Standard
Tax Annual Amount: 762
Tax Assessed Value: 54500
Tax Lot: 34
Tax Year: 2022
Vacation Rental: no

Zoning Info


© 2022 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is 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. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of Keller Williams Realty Group. Data last updated on Friday, December 2nd, 2022 09:13:44 AM.
#IDX-primaryPhoto,#idx-details-header Listed by: Keller Williams Realty Group 4849485872

Contact - Listing ID PAPH2169710

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Eric Feinberg

1137 N 3rd Street Suite 2
Philadelphia, PA 19123
Phone: 4849485872

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