For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $649,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,787 sqft
Price per Sqft $232
Subdivision Queen Village
MLS Listing ID PAPH2038542
Sold Date 07/21/22
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $6,698
Tax Year 2022
Lot Size 928 Sqft
Acres 0.02
Lot Dimensions 16.00 x 58.00
Property Description
Location, Location, Location!! This mixed use Investment Opportunity in the desirable Queen Village neighborhood has the ability to be a Cash Cow! The first floor, spanning the entire lot, houses a barber shop with 6 independent styling stations. The seller, who has had recent health problems, used to rent every station out for $350.00 per week. There is currently 1 station rented out, the other ones are not being used. The demand is there, but there is no one to promote or manage the style station rentals. Take advantage of this now, and bring the cash in. This part of the property is in a turn key situation including all equipment, forced air heating and central air conditioning, high ceilings and a convenient bathroom. The second and third floors have a bilevel 3 bedroom, 1 bathroom apartment with its own forced air heating system, which could use some cosmetic upgrades, and has its own separate entrance from South Street. With a minimal amount of improvements, this unit should easily rent for $2,700.00 per month. So, lets do the math; if the stations in the commercial space were all rented, that would bring in over $9,000.00 per month, and the apartment $2,700.00 per month. That's $11,700.00 per month on a $649,000.00 asking price! The location is second to none, just a few doors down from the famous Jim's Steaks, Milkboy, and Copa. It has plenty of foot traffic, retail shopping, cafes and restaurants. This one is a no-brainer! Make your move today!
Location
State PA
County Philadelphia
Area 19147 (19147)
Zoning CMX3
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871024450
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Diana Rivera • Keller Williams Real Estate - Newtown