New Construction
Address
522 N Preston Street, Philadelphia, PA
Price
$ 1,200,000
Property Attributes
- MLS#PAPH2256532
- TypeMulti-Family
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19104
- Zip19104
- StyleTraditional
- Year Built2016
- Taxes$ 1483
- Price$ 1,200,000
- Bedrooms10
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1,742 SqFt
Data Source:
Bright MLS
Property Description
OPPORTUNITY knocks!!! Own a fully occupied 5-unit building in one of Philadelphia's Opportunity Zones. This 7-year young building sits on a 17x100 lot, has 3-4 years left on the tax abatement and brings in $98,700 in gross annual rent. Unit #1 features a flat 2 bed, 2 bath unit with a private backyard for $1725/month. Unit #2 features a 2 bed, 2 bath unit for $1700/month. Unit #3 features a bi-level 2 bed, 2 bath unit for $1650/month. Unit #4 features a bi-level 2 bed, 2 bath unit for $1732.50/month. Unit #B features a lower level 2 bed, 2 bath unit for $1417.50/month. The owners collect $60 monthly water fee from each unit. All of the units have open kitchens with brown cabinets, granite countertops and stainless steel appliances, including an electric stove, a dishwasher, a microwave, a refrigerator and a garbage disposal; large bathrooms, high ceilings, skylight windows in the top floors units #3 and #4, intercoms, washer & dryer in each apartment, lots of natural sunlight. Central A/C and heat in each unit. Apt #1 has a private backyard. Extremely low taxes for the next 3 to 4 years! Cap rate of 7.4%. 522 N Preston st is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood. This is one of the most concentrated innovation districts in the United States with national leading employment centers and higher learning institutions.
| Price History | |
|---|---|
| 7/12/2023 | Listed $1,200,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central |
| Cooling | Central A/C |
| Possession | Immediate |
| Zoning | RSA5 |
| Pool Y/N | No Pool |
| Architectural Style | Traditional |
| Construction Materials | Concrete |
| Year Built | 2016 |
| Property SubType | Other |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | Other |
| County | PHILADELPHIA |
| New Construction | Yes |
| Property Type | Multi-Family |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | google maps |
| ModificationTimestamp | 2024-04-30T13:59:02 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 2.5 |
| Total Units | 4 |
| MLS Area | 19104 (19104) |
| Lot Size Square Feet | 1666.00 |
| Tax Assessed Value | 106000.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 4 |
| Street Name | PRESTON |
| Tax Annual Amount | 1483.0 |
| Property Condition | Excellent |
| Two Bedroom | 5 |
| Structure Type | Interior Row/Townhouse |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 5,Unit 3 |
| Price Per Sq Ft | 268.1 |
| Construction Completed Y/N | No |
| Vacation Rental Y/N | No |
| Total SQFT | 5376 |
| Days on Market | 295 |
| Lease Type | Yearly |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 74 |
| Total Actual Rent | 98700.00 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Basement | Fully Finished |
| Flooring | Engineered Wood |
| Hot Water | Electric |
| Total Stories | 4 |
| Furnished Units | None |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | Yes |
| LivingAreaSource | Estimated |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | On Street |
| Land Use Code | W71 |
| Foundation Details | Slab |
| Water View Y/N | No |
| Lot Dimensions | 17.00 x 100.00 |
| Lot Size Acres | 0.04 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 106000.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
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 19104
Price
Taxes
Visits
Year Built
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