Welcome to 627 South Street in PHILADELPHIA

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  • $765,000
    No Recent Price Change
  • 627 South Street
    Philadelphia , PA 19147
N/ABeds
N/AFull Baths
N/AHalf Baths
2,465SqFt
1900Year Built
0.03Acres
  • MLS# PAPH983376
  • Rental
  • Interior Row/Townhouse
  • ACTIVE UNDER CONTRACT

Area19147 (19147)
CountyPhiladelphia
SubdivisionQueen Village

Agent Remarks

Rare opportunity to own a cash flowing property with option to further develop for higher returns. Rooted in the Meredith/ McCall school district lies a diamond in the rough with for a savvy Investor. The ground level unit is a deep commercial space that spans from South st to Rodman st looking over the well known Starr Garden Park. All of the kitchen equipment, fixtures and apparatus accompany the sale (thousands of dollars in value). Complete with bathroom, skylights, non stop foot traffic, split systems, newly poured concrete in basement and sump pump. Previous tenants have paid $4500 and 65% of CAM expenses. Currently available for lease with kitchen equipment for $3500. There is also a closed off stairwell to the left of the kitchen. Confirmed by a local architect, based on the lot size and air rights an additional unit can be built above the Rodman facing side of the building with entrance. Tenants will flock to this location! Based on zoning only the first 30' need to be utilized as commercial space. Meaning you could try for a variance with a higher unit count! The upper 2nd and 3rd floors are a bi-level 3 bed, 2 bath, full kitchen with double living rooms. The rooms are large, bright and have always attracted tenants. In the past this unit has rentedfor $1800-$200 per month. Even with this pandemic the location is central for a thriving business and interested residential tenants.


Agriculture / Farm

Association Fees / Info

Coa:  No

Hoa:  No

Association Recreation Fee:  ,No,

Bathroom Info

Bedroom Info

Three Bedroom Units Count:  1

Building Info

Exclusions:  Tenants belongings in upper unit.

Building Level Count:  4

Construction Completed:  No

Year Built:  1,900

New Construction:  N

Construction Materials:  Masonry

Historic:  No

Community Info

Exterior Features

View:  No

Pool:  No Pool

Fees / Restrictions

Financial

Sale Type:  Standard

Ownership Interest:  Fee Simple

Price Per Sqft:  310

Cap Rate:  7.00

Rent Control:  N

Ground Rent Exists:  ,No,

Land Lease:  No

Owner Pays:  Water, Taxes - Real Estate, Snow Removal, Sewer Maintenance, Sewer, Repairs, Management, Insurance, Heater Maintenance Contract, Common Area Maintenance

Contingency Type:  Home Inspection

Inclusions:  Commercial fixtures in ground level unit.

Garage / Parking

Garage:  N

Type of Parking:  On Street

Interior Features

Fireplace:  No

Basement:  English, Poured Concrete, Sump Pump, Unfinished

Architectural Style:  Traditional

Basement:  Y

Lot Info

Lot Size Dimensions:  17.62 x 50.00

Lot Size Units:  Square Feet

Acres:  0.03

Marina Info

Dockslip Conveys:  ,No,

Misc

Accessibility Features:  None

Municipal Trash:  ,No,

Spa:  No

Vacation Rental:  N

Other

Security Features:  Security Gate

Other Structures:  Above Grade,Below Grade

Other School Info

Sch District Key:  300200397108

Property Info

Property Type:  Multi-Family

Sub Type:  Duplex

Property Attached:  No

City Limits:  No

Municipality:  PHILADELPHIA

Sign On Property:  ,No,

Sqft Info

Total Below Grade Sqft:  500

Living Area Sqft:  2,465

Total Below Grade Sqft Source:  Estimated

Total Sqft:  2,965

Lot Sqft:  1,507

Tax Info

Tax Annual Amount:  999.0

Tax Assessed Value:  999.0

Tax Year:  2020

Total Taxes Pymnt Freq:  Annually

Automatically Update Tax Values:  Y

Unit Info

Number of Units Vacant:  1

Other Units:  Unit 1,Unit 2

Building Units Total:  2

Utilities / Hvac

Water Source:  Public

Heating:  Y

Sewer Septic:  Public Sewer

Heating:  Central

Heating Fuel:  Natural Gas

Cooling Fuel:  Electric

Cooling:  Central A/C

Central Air:  Y

Hot Water:  Natural Gas

Cooling:  No

Waterfront / Water

Water Oriented:  N

Water Access:  N

Waterfront:  N

Water View:  N

Tidal Water:  N

Navigable Water:  N

Schools

Elem:  Gen. George A. McCall School

Middle:  William M. Meredith School

High:  Horace Furness

District:  The School District of Philadelphia

Directions

On South st in between 6th and 7th. Back of building is on Rodman st.

Courtesy of Keller Williams Philly 

Featured Lender

image

Todd Hennessy

GMH Mortgage Services

610-355-8142
thennessy@gmhmortgage.com
https://gmhmortgage.com

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On wagnerrealestate.com since Fri, Jan 29th 2021
No Property History recorded for this listing.

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