$1,100,000
$1,100,000
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7,256 SqFt
SOLD DATE : 02/29/2024
Key Details
Sold Price $1,100,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 7,256 sqft
Price per Sqft $151
MLS Listing ID PAPH2290548
Sold Date 02/29/24
Originating Board BRIGHT
Year Built 1928
Annual Tax Amount $14,398
Tax Year 2022
Lot Size 6,150 Sqft
Acres 0.14
Lot Dimensions 41.00 x 150.00
Property Description
-- Below Market Rents: Increase Rents to Market Pricing with Cosmetic Renovations
-- Proximity to Public Transportation: Walk to SEPTA's Market-Frankford Line, Trolley and Bus Routes
-- Access to Major Arteries: City Avenue (Route 1), Lancaster Avenue (Route 30), and Interstates 76 and 476
-- Convenient to Area's Top Employers: Lankenau Medical Center, St. Joseph's University, University of Pennsylvania, Drexel University, Penn Medicine, CHOP & VA
Situated on the northwest corner of North 63rd Street and Lansdowne Avenue, the property boasts high visibility and is comprised of 5 apartment units and 7 street-level commercial spaces.
The Property features (2) one-bedroom apartments and (3) two-bedroom apartments. The apartments are large with efficient layouts and boast plenty of natural light due to the corner location of the building. The units are currently rented under market rate. Rents can be boosted significantly for additional income with light cosmetic renovations. Currently, the commercial spaces are leased by an adolescent daycare provider, a clothing store, a barber, and a salon.
Located on the borders of the Carroll Park and Overbrook Park neighborhoods in West Philadelphia, the Property is well located for transportation purposes. It is a short walk to the 10 and 15 trolley lines, sits near major bus routes, and is ±1.5 miles from SEPTA's 60th Street subway station and 69th Street Transportation Center. In addition, the Property provides convenient access to City Avenue (Route 1) and Lancaster Avenue (Route 30) that feeds into Interstates 76 and 476 for access to the area's top employers, shopping, recreation and entertainment in Center City Philadelphia and the surrounding suburbs.
Location
State PA
County Philadelphia
Area 19151 (19151)
Zoning CMX2
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Water Access N
Accessibility Other
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881125860
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Jacqueline A Tomaselli • Century 21 Advantage Gold-Lower Bucks