Philadelphia, PA 19147,1216 SOUTH ST
Philadelphia, PA 19147,1216 SOUTH ST
Philadelphia, PA 19147,1216 SOUTH ST
Philadelphia, PA 19147,1216 SOUTH ST
Philadelphia, PA 19147,1216 SOUTH ST
Philadelphia, PA 19147,1216 SOUTH ST
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$820,000

$849,900

3.5%
Est.Price: ?

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Est. payment /mo

2,832 SqFt


SOLD DATE : 07/17/2024

Key Details

Sold Price $820,000

Property Type Multi-Family

Sub Type Triplex

Listing Status Sold

Purchase Type For Sale

Square Footage 2,832 sqft

Price per Sqft $289

Subdivision Washington Sq West

MLS Listing ID PAPH2350376

Sold Date 07/17/24

Style Traditional

Abv Grd Liv Area 2,832

Originating Board BRIGHT

Year Built 2006

Annual Tax Amount $9,213

Tax Year 2023

Lot Size 1,119 Sqft

Acres 0.03

Lot Dimensions 15.00 x 75.00

Property Description

This is your opportunity to own a triplex in an incredibly convenient location! The building consists of two nearly identical 2 bed/2 bath units on the 2nd & 3rd floors, with a versatile 15 foot wide commercial space on the first floor ready to capture an immense amount of vehicle and foot traffic. When fully occupied, this property produces a solid 6% cap rate and net cash flows of nearly $4,300/mo (P&L included in the documents tab). The 2nd/3rd floor apartments are leased and the 1st floor commercial space has been prepped and is now ready for a new tenant. The commercial space is currently listed for rent, but the unit can be delivered vacant if the buyer wishes to operate their own business out of the 1st floor. The upstairs apartments span the entire length of the building and have ideal barbell layouts with the bedrooms on opposite ends of the apartments. These units check all the boxes with Central AC, in-unit laundry, and dishwashers. Each bedroom has its own dedicated full bathroom, with the large kitchens, dining rooms, and living rooms in between. Once you step outside of the apartments the location almost can't get any more convenient as evidenced by the WalkScore of 97 and TransitScore of 100! Not only is the location surrounded by bus routes (45 NB/SB & 40 EB/WB), but its also < 2 blocks from the Broad St. Line subway. It's also one of the unique areas in the city with multiple large grocery stores within a couple blocks as well; Whole Foods & Acme. Not to mention the nearby local favorites Roxanne BYOB, Jiggy Coffee, Brauhaus Schmitz, Angelo's Pizzeria and so many more!

Location

State PA

County Philadelphia

Area 19147 (19147)

Zoning CMX2

Rooms

Basement Drainage System, Sump Pump, Unfinished

Interior

Interior Features Wood Floors, Sprinkler System, Store/Office

Hot Water Electric

Heating Central

Cooling Central A/C

Flooring Hardwood

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

Architectural Style Traditional

Additional Building Above Grade

New Construction N

Schools

Elementary Schools Andrew Jackson

Middle Schools Jackson Andrew

High Schools Furness Horace

School District The School District Of Philadelphia

Others

Tax ID 871047400

Ownership Fee Simple

SqFt Source Assessor

Security Features Sprinkler System - Indoor,Intercom

Acceptable Financing Cash, Conventional, FHA, FHA 203(b), FHA 203(k), VA

Listing Terms Cash, Conventional, FHA, FHA 203(b), FHA 203(k), VA

Financing Cash,Conventional,FHA,FHA 203(b),FHA 203(k),VA

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Stephanie Saracini • RE/MAX One Realty - TCDT
Bought with Xiaoyi Zheng • Home Vista Realty
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