$1,400,000
$1,500,000
6.7%For more information regarding the value of a property, please contact us for a free consultation.
5,555 SqFt
SOLD DATE : 04/10/2024
Key Details
Sold Price $1,400,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 5,555 sqft
Price per Sqft $252
Subdivision Fairmount
MLS Listing ID PAPH2232822
Sold Date 04/10/24
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $15,487
Tax Year 2023
Lot Size 2,256 Sqft
Acres 0.05
Lot Dimensions 22.00 x 102.00
Property Description
Phenomenal opportunity to own a neighborhood landmark in one of Philly's best locations. Investors or owner operators alike will recognize the rare chance to take possession of a building that represents a generational asset. The ground floor bar restaurant was gut renovated from the basement up to the main floor about 16 years ago and is virtually turnkey. It offers a full kitchen, sit down and bar service, outdoor seating and small bandstand and is currently vacant. The buyer will be responsible for purchasing their own liquor license. Square footage of the restaurant space is 3074 sf (including the full basement). The four 1 bedroom apartments are rarely vacant so contribute a reliable and predictable income stream to the investment or the owner/operator of the bar restaurant. The current owner offers 2 free laundry rooms to the residential tenants so additional revenue is possible if a new owner chooses to install coin operated units. There is also substantial upside with the residential rents. With cosmetic improvements to the apartments the rents could go as high as $1900 a month. Make your appointment today. You will not be disappointed.
Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning RM1
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility Ramp - Main Level
Parking Type On Street
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871298020
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Private, Other
Listing Terms Cash, Conventional, Private, Other
Financing Cash,Conventional,Private,Other
Special Listing Condition Standard
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Bought with John J Nolano • Keller Williams Philadelphia
“Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”