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946 S 58TH Street

PHILADELPHIA, PA 19143
  • $599,000
  • STATUS: Active
  • ON SITE: 38 Days
  • ID#: PAPH2314418
UPDATED: 110 min ago
$599,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Ratings & Info

School District:

Description

Introducing a prime investment opportunity on the corner of 58th and Baltimore Ave! This mixed-use property at 946 South 58th St, zoned CMX-1, boasts a total of 5 units, featuring 3 versatile commercial spaces - all of which are leased and already cash flowing on the ground floor. Above, you'll find two spacious and vacant 3-bedroom, 1-bathroom residential apartments each with large, eastern facing balconies as well windows with southern views, offering the perfect canvas for total renovation and customization.Located on a busy intersection in West Philadelphia, this property presents an excellent chance for both commercial and residential income streams. Currently the commercial tenants have triple net leases for 1.5 more years with the option to review for 5 years (cafe) and 3 years (cash checking) respectively. The building has a gross annual return of $51,050 and a CURRENT CAP RATE of 5% (without residential rental income.) However, with the property's strategic location and potential to earn cash flow from the two residential spaces - once renovated - you don't want to miss out on this promising investment. Schedule a viewing today and explore the potential of this diamond in the rough!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Murray & Co. Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-03-01T23:52:05.233.
www.mcre.com/homes/146836885
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946 S 58TH Street PHILADELPHIA, PA 19143

  • Price: $599,000
  • Status: Active
  • On Site: 38 Days
  • Updated: 110 min ago
  • ID#: PAPH2314418
0
Beds
0
Baths
0
½ Baths
0.07
Acres
1920
Built
Neighborhood:
Andorra
County:
Philadelphia
Area:
19143 (19143)
School District:
Philadelphia City
Property Description
Introducing a prime investment opportunity on the corner of 58th and Baltimore Ave! This mixed-use property at 946 South 58th St, zoned CMX-1, boasts a total of 5 units, featuring 3 versatile commercial spaces - all of which are leased and already cash flowing on the ground floor. Above, you'll find two spacious and vacant 3-bedroom, 1-bathroom residential apartments each with large, eastern facing balconies as well windows with southern views, offering the perfect canvas for total renovation and customization.Located on a busy intersection in West Philadelphia, this property presents an excellent chance for both commercial and residential income streams. Currently the commercial tenants have triple net leases for 1.5 more years with the option to review for 5 years (cafe) and 3 years (cash checking) respectively. The building has a gross annual return of $51,050 and a CURRENT CAP RATE of 5% (without residential rental income.) However, with the property's strategic location and potential to earn cash flow from the two residential spaces - once renovated - you don't want to miss out on this promising investment. Schedule a viewing today and explore the potential of this diamond in the rough!
Exterior Features

Construction Materials Masonry Garage YN No Location Type Corner Lot/Unit Parking Types None Property Condition Very GoodGoodAverageBelow AverageMajor Rehab Needed Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 4536.00 Cooling Window Unit(s)Wall UnitDuctless/Mini-Split Exclusions Personal propertymaterialstoolsmachineryproducts or goods owned by the commercial tenants. Fireplace YN No Heating Baseboard - Electric Heating YN Yes Net Square Feet 4536.00 Security Features Surveillance SysExterior Cameras

Property Features

Acceptable Financing Seller FinancingCashConventionalFHA Accessibility Features Entry Slope <1' Annual Gross Expense 16986.14 Assessment Year 2023 Business Type Other/General RetailConvenience Store/Gas Central Air YN No Cooling Fuel Electric Cross Street 58th and Baltimore Ave Elevators 0 Heating Fuel Electric Hot Water Natural Gas Municipality PHILADELPHIA Navigable Water YN N Net Operating Income 34063.85 New Construction YN No Number Of Units Total 5 Operating Expense Includes InsuranceSewerTrashWater Original MLSNumber 802825509854 Owner Pays InsuranceSewerTrash CollectionTaxes - Real EstateWater Ownership Interest Fee Simple Possession NegotiableImmediateSettlement Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 4063.00 Tax Assessment Amount 290300.00 Tax Lot 166 Total Actual Rent 51050.00 Vacation Rental YN No Water Source Public Zoning CMX1

Listing courtesy of BHHS Fox & Roach The Harper at Rittenhouse Square: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Murray & Co. Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-03-01T23:52:05.233.
 
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