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1216 SOUTH ST Philadelphia, PA 19147
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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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Bought with Xiaoyi Zheng • Home Vista Realty
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