Homes for sale - 1182 S 11TH ST, Philadelphia, PA 19147

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Cris Balkam

cb@cbsellsnj.com +1(609) 320-3729

$875,000

Est. payment - /mo

2,368 SqFt

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UPDATED:

12/10/2024 02:06 PM

Key Details

Property Type Multi-Family, Townhouse

Sub Type End of Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 2,368 sqft

Price per Sqft $369

Subdivision Italian Market

MLS Listing ID PAPH2418998

Style Traditional

Abv Grd Liv Area 2,368

Originating Board BRIGHT

Year Built 1915

Annual Tax Amount $5,290

Tax Year 2025

Lot Size 1,440 Sqft

Acres 0.03

Lot Dimensions 18.00 x 80.00

Property Description

Invest in your future with 1, 2, or 3 of these fully occupied, cash-flowing triplexes in the popular Bella Vista/Italian Market neighborhood of Center City. The owners are ready to retire and pass on their success to you. With a 99% occupancy rate spanning 3 to 17 years, make your first investment an “easy win,” or add another solid multi-family building to your portfolio. Either way- it’s a win. The tenants are happy, love the location, and are paying near or at-market rents, so you don’t have to worry about making dramatic changes after you buy. Plus, there’s potential to increase your earnings by renting out additional storage in 2 of the 3 basements to the tenants or someone local who needs extra storage space (or use it for yourself!). You can also do some modest upgrades when units turnover and increase the rents year after year. Each tenant in each unit pays for their gas and electric (separate utilities & mechanicals- yea!). The landlord only pays for water for the 3 buildings and common electric in 2 of the 3 buildings. All units have the required sprinkler systems, RM1 Zoning, active rental licenses, and Lead-Free (811) or Lead-Safe (819 & 1182) Certificates from the city....... Details about this building: 1182 S 11th: Gross rent is $5700/mo for two 2-bed/2 bath flats and one 1-bed/1bath flat. The third floor has a private roof deck, and all units have central air and in-unit laundry. The basement is available for your use or an opportunity to add value by providing additional storage for the tenants. ..... Details about the other two buildings: 811 S 11th: Gross rent is $5550/mo over three 2 bed/1 bath flats. Each unit has C/A, private outdoor space, and a storage cage in the back portion of the basement. Units 1 & 3 have in-unit laundry. Unit 2 uses the laundry in the basement. The front part of the basement is available and easily used for additional storage for you or someone else. 819 S 11th: Gross rent is $4500/mo for two 2-bed/1-bath flats and one 1-bed/1-bath flat. The first floor has outdoor space and access to an extra basement room that is finished, plus exclusive access to the unfinished portion of the basement. Bilco access to the basement is temporarily closed shut but could be accessed if needed down the road. Each unit has in-unit laundry. Tenants use window units for cooling. .......The opportunity here is perfect- cash flow right out of the gate, and plan to make strategic value-adds along the way to increase your profit!

Location

State PA

County Philadelphia

Area 19147 (19147)

Zoning RSA5

Rooms

Basement Full, Unfinished, Outside Entrance

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling Central A/C

Flooring Wood, Ceramic Tile

Inclusions All Refrigerators, washers, & dryers

Equipment Refrigerator, Washer, Dryer, Built-In Microwave, Dishwasher

Fireplace N

Appliance Refrigerator, Washer, Dryer, Built-In Microwave, Dishwasher

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Traditional

Additional Building Above Grade, Below Grade

New Construction N

Schools

Elementary Schools Fanny Jackson Coppin

Middle Schools Fanny Jackson Coppin

High Schools Furness Horace

School District The School District Of Philadelphia

Others

Tax ID 871040900

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, VA

Listing Terms Cash, Conventional, VA

Financing Cash,Conventional,VA

Special Listing Condition Standard

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Listed by Stacy L Sanseverino • KW Empower

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Cris Balkam

+1(609) 320-3729

Agent | License ID: 1758285

Agent License ID: 1758285

1182 S 11TH ST Philadelphia, PA 19147

Cris Balkam

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1182 S 11TH ST