$839,000

627 South St

PHILADELPHIA PA, 19147

Description

Rare opportunity to own a cash flowing property with option to further develop for higher returns. Rooted in the Meredith/ McCall school district lies a diamond in the rough with for a savvy Investor. The ground level unit is a deep commercial space that spans from South st to Rodman st looking over the well known Starr Garden Park. All of the kitchen equipment, fixtures and apparatus accompany the sale (thousands of dollars in value). Complete with bathroom, skylights, non stop foot traffic, split systems, newly poured concrete in basement and sump pump. Previous tenants have paid $4500 and 65% of CAM expenses. Currently available for lease with kitchen equipment for $3500. There is also a closed off stairwell to the left of the kitchen. Confirmed by a local architect, based on the lot size and air rights an additional unit can be built above the Rodman facing side of the building with entrance. Tenants will flock to this location! Based on zoning only the first 30' need to be utilized as commercial space. Meaning you could try for a variance with a higher unit count! The upper 2nd and 3rd floors are a bi-level 3 bed, 2 bath, full kitchen with double living rooms. The rooms are large, bright and have always attracted tenants. In the past this unit has rentedfor $1800-$200 per month. Even with this pandemic the location is central for a thriving business and interested residential tenants.

Details

MLS#PAPH911300
Listing TypeFor Sale
Sub-TypeResale
Status10000069142
Year1900
Days On Site109

Features

SQ Feet2,465
Units2
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Area Information
StatePA
CountyPHILADELPHIA-PA
CityPHILADELPHIA
Zip Code19147
Area19147 (19147)
Listing VS Median (in 19147)
Price:
$839,000
low | high
Med:
$369,900
100% of Average
SqFt:
2,465
low | high
Med:
1,344
95.476673427992% of Average
$ / SqFt:
$340
low | high
Med:
$275
69.13882917589% of Average
On Site:
109
low | high
Med:
78
100% of Average
Listing Updated: 10/29/2020
Richard K Cassell LogoMLS Number: PAPH911300
Listing Provided By:
Richard K Cassell  of  Keller Williams Philly
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