Property Attributes
- MLS#PAPH2343996
- TypeMulti-Family
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19106
- NeighborhoodOld City
- Zip19106
- StyleUnit/Flat
- Year Built1900
- Taxes$ 11919
- Price$ 1,250,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size2,178 SqFt
Data Source:
Bright MLS
Property Description
This magnificent architectural masterpiece, prominently positioned on Market Street in Old City, presents a rare opportunity for development in a bustling urban locale. Boasting an impressive facade that floods both floors with natural light, this property offers the perfect opportunity to transform this commercial building into a mixed-use multi-family investment. Currently configured as a bar/restaurant, this expansive space is approximately 6,300 square feet. The width of the property is a generous 22 Ft and goes as far back as 99 Ft making the lot size 2,178 Sq/Ft. The current zoning is CMX-3 which allows by right for you to develop this into 8 total units - 1 commercial unit on the 1st floor and 7 residential units. This development will require for two addition stories to be added in order to fit all of the units comfortably. With the city 's plan of building a Park Cap over I-95 this can be the perfect opportunity to buy in the neighbor before prices increase dramatically. With the plan of developing this into a mixed-use multifamily cash flowing building and holding onto it for the long term can create tons of equity for generations to come. This location enjoys easy access to public transportation via the MFL Frankford Transportation Center to 69th St Transportation Center at the 2nd St Station - MFL stop. With a Walk Score of 100, transit score of 100, and Bike Score of 84, this area is a paradise for pedestrians, commuters, and cyclists alike. Surrounded by essential services such as CVS Pharmacy, the US Post Office, and various local businesses, this property offers endless possibilities for development. Don't miss out on this prime opportunity - schedule a viewing today before it's too late!
Price History | |
---|---|
4/22/2024 | Listed $1,250,000 |
General Features
Sewer | Public Sewer |
---|---|
Heating | Heat Pump(s) |
Cooling | Central A/C |
Possession | Immediate |
Exterior Features | Sidewalks,Street Lights |
Zoning | CMX-3 |
Pool Y/N | No Pool |
Architectural Style | Unit/Flat,Other |
Security Features | Carbon Monoxide Detector(s),Smoke Detector,Sprinkler System - Indoor,Fire Detection System,Main Entrance Lock |
Construction Materials | Masonry |
Year Built | 1900 |
View | City,Street,Scenic Vista |
Property SubType | Other |
Tax Year | 2022 |
Percent Ownership | Fee Simple |
Cool Fuel | Natural Gas |
Accessibility | None |
County | PHILADELPHIA |
New Construction | No |
Property Type | Multi-Family |
Subdivision Name | OLD CITY |
Garage Y/N | No |
Water Access Y/N | No |
Other Structures | Above Grade |
Status | ACTIVE |
Directions | Coming from the south side of S 3rd St go straight and turn right to Market St. The property will be on the right,right after Citizens Bank. |
ModificationTimestamp | 2024-04-22T17:47:36 |
City | PHILADELPHIA |
Buyer Agent Compensation | 3 |
Total Units | 1 |
MLS Area | 19106 (19106) |
Lot Size Square Feet | 2178.00 |
Tax Assessed Value | 851500.0 |
Waterfront Y/N | No |
Street Name | MARKET |
Tax Annual Amount | 11919.0 |
Home Warranty Y/N | No |
Property Condition | Very Good |
Structure Type | Other |
Price Per Sq Ft | 198.41 |
Acceptable Financing | Cash,Conventional,Other |
Historic Y/N | No |
Vacation Rental Y/N | No |
Virtual Tour | https://view.ricoh360.com/85d79731-0402-42d6-92b9-bb19dee9738e |
Total SQFT | 6300 |
Days on Market | 9 |
Location Type | Urban |
Standard Status | Active |
Year Built Source | Estimated |
Tax Lot | 11 |
Buyer Agent Compensation Type | % Of Gross |
Association Recreation Fee | No |
Interior Features
Heating Fuel | Natural Gas |
---|---|
Basement | Fully Finished |
Hot Water | Multi-tank |
Basement (Y/N) | Yes |
Heating Y/N | Yes |
Fireplace Y/N | No |
Street Suffix | STREET |
Central Air Y/N | Yes |
LivingAreaSource | Estimated |
Exterior Features
Lot Features | Road Frontage |
---|---|
Water Source | Public |
Type of Parking | On Street |
Land Use Code | IB0 |
Spa | No |
Water View Y/N | No |
Lot Dimensions | 22.00 x 100.00 |
Lot Size Acres | 0.05 |
Lot Size Units | Square Feet |
Lot Size Source | Estimated |
Land Assessed Value | 170291.00 |
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