Views
Address
2516 Frankford, Philadelphia, PA
Price
$ 750,000
Property Attributes
- MLS#PAPH2302076
- TypeMulti-Family
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19125
- Zip19125
- StyleTraditional
- Year Built1921
- Taxes$ 612
- Price$ 750,000
- Bedrooms7
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.04 Acres
Data Source:
Bright MLS
Property Description
Rare Development Opportunity - Entitled 6 Units On a High Preforming Corridor. Location Details CMX-2 Zoned for commercial, 5 residential units above 1 & 2 bed units & roof deck. Eligible for a 10 year tax abatement upon completion of construction . Additional property (set up as a duplex) at 2505 Amber St is interested to sell as a package deal, therefore you can consolidate, increase the foot print of the building and add unit density. Central to large and midsize development .Located in a Qualified Opportunity Zone Strategy 1 - Bring the building to lease ready condition for a projected $4100 gross monthly income to cover the estimated $4000 monthly debt service. Pursue approvals on plans and pull permitting. factoring in expediting and response time from examiners you'll begin work in the spring time, which will aline with the ideal rental cycle for stabilizing the building. Strategy 2 - For an offer price of $780,000 Seller will finalize and coordinate with the architect to submit plans for approval. Seller will deliver approved plans at the time of closing. Buyer will be responsible for adding their contractor to eclipse and pulling/ paying for permits. Build immediately and sync with the rental cycle to stabilize the building.
| Price History | |
|---|---|
| 12/4/2023 | Listed $795,000 |
| 1/18/2024 | 6% - $750,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central |
| Cooling | Central A/C |
| Possession | Immediate |
| Roof | Flat |
| Zoning | CMX2 |
| Pool Y/N | No Pool |
| Architectural Style | Traditional |
| Construction Materials | Brick |
| Year Built | 1921 |
| Electric | 200+ Amp Service |
| View | City |
| Property SubType | Quadruplex |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | PHILADELPHIA |
| New Construction | No |
| Property Type | Multi-Family |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade |
| Status | ACTIVE |
| Directions | On Frankford |
| ModificationTimestamp | 2024-02-18T15:38:16 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 2.5 |
| Zoning Description | Legal 4 unit (3 residential & 1 commercial) zoned for 5 residential & 1 commercial |
| Total Units | 4 |
| MLS Area | 19125 (19125) |
| Lot Size Square Feet | 1584.00 |
| Tax Assessed Value | 279500.0 |
| Waterfront Y/N | No |
| Street Name | FRANKFORD |
| Tax Annual Amount | 612.0 |
| Two Bedroom | 3 |
| Structure Type | Interior Row/Townhouse |
| One Bedroom Units Count | 1 |
| NumberOfUnitsVacant | 4 |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 3 |
| Price Per Sq Ft | 293.54 |
| Rent Control Y/N | No |
| Vacation Rental Y/N | No |
| Virtual Tour | https://new.express.adobe.com/webpage/ujhZwybnXs8xm |
| Total SQFT | 2555 |
| Days on Market | 149 |
| Standard Status | Active |
| Year Built Source | Estimated |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Hot Water | Natural Gas |
| Total Stories | 2 |
| Heating Y/N | Yes |
| Central Air Y/N | Yes |
| LivingAreaSource | Estimated |
Exterior Features
| Lot Features | Irregular |
|---|---|
| Water Source | Public |
| Inclusions | Proposed plans and zoning approval |
| Type of Parking | None |
| Foundation Details | Stone |
| Water View Y/N | No |
| Lot Dimensions | 18ft wide |
| Lot Size Acres | 0.04 |
| Lot Size Units | Square Feet |
| Lot Size Source | Estimated |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Estimated |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 19125
Price
Taxes
Visits
Year Built
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