UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2678146
Year Built 1915
Annual Tax Amount $7,779
Tax Year 2027
Lot Size 1,640 Sqft
Acres 0.04
Lot Dimensions 20.00 x 82.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
The approximately 1,000 SF commercial unit is currently zoned for use as a medical office. Unit 2 is an 844 SF, 2-bedroom, 1-bath apartment, while Unit 3 offers approximately 1,200 SF with 2 bedrooms and 2 full bathrooms. All three units are currently vacant and listed for lease, providing flexibility for an investor or qualified owner-occupant. The property can also be delivered occupied should a buyer prefer a stabilized investment.
At the $800,000 asking price and based on current listed rents, the property projects a pro forma NOI of $52,086, representing a 6.51% cap rate and a 1.23 DSCR at a 6.5% interest rate.
With newly renovated interiors, flexible occupancy options, and a prime South Broad Street location, 1602 S Broad presents an attractive opportunity for both investors and owner-occupants.
Location
State PA
County Philadelphia
Area 19145 (19145)
Zoning RSA5
Interior
Hot Water 60+ Gallon Tank
Heating Forced Air
Cooling Ductless/Mini-Split
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871169750
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA
Special Listing Condition Standard
Nearby Locations
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