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Key Details
Sold Price $825,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Philadelphia (West)
MLS Listing ID 1004125367
Sold Date 02/07/18
HOA Y/N N
Originating Board TREND
Year Built 1925
Annual Tax Amount $1,559
Tax Year 2017
Lot Size 1,061 Sqft
Acres 0.02
Lot Dimensions 45X70
Property Description
Attention Savvy investors, these commercial properties offer an Amazing rate of return, with over $97,000.00 per year in gross income and very little expenses. Almost all of the commercial leases are triple net, and the tenants are all long term. 52nd Street is the largest commercial corridor in West Philadelphia, and is always bustling!! This package consists of four contiguous store fronts and three apartments, all currently rented, There is value add room in the package, several of the upper floors are vacant, and could easily be converted to apartments. In addition, the owners have been very lenient with rental increases, which a new investor could take advantage of. Seller pays approximately $8,000.00 in expenses per year, all other are absorbed by the tenants. All leases are attached, feel free to call or email with any questions. All showings will be set with the property manger, who will be happy to show you the entire package. These properties can also be sold with the duplex listing at 5703 Baltimore Avenue, which is owned by the same sellers.
Location
State PA
County Philadelphia
Area 19139 (19139)
Zoning CMX4
Rooms
Other Rooms Primary Bedroom
Interior
Fireplace N
Exterior
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871400515
Ownership Fee Simple
Special Listing Condition Short Sale
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Bought with Michael R. McCann • BHHS Fox & Roach-Center City Walnut