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    1219 N 29TH Street

    PHILADELPHIA, PA 19121
    • $300,000
    • STATUS: Active
    • ON SITE: 48 days
    • ID#: PAPH1000200
    UPDATED: 57 min ago
    $300,000
    • 0
      BEDS
    • 0.03
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1925
    County:

    School Ratings & Info

    Description

    Welcome to 1219 N 29th Street, a LEGAL triplex (100% residential) with active rental licenses located in the heart of booming Brewerytown. If you are looking for a 9% CAP RATE, then this is the asset for you! The opportunities are endless here; purchase as a cash flowing triplex, live in one unit and rent out the other two, convert the 1st floor to commercial with 2 residential units above based on the CMX2 zoning guidelines or update the units to increase your gross rents and After Repair Value (ARV)! Located right off Girard Ave this location has everything you would want for future rent growth and asset appreciation; Girard trolley stop right outside plus local bus routes, Immediate access to I-76, and other major expressways! Local attractions range from breweries, cafes, parks, and nightlife right outside your door to iconic landmarks like Fairmount Park, Art Museum, Boathouse Row, Eastern State Penitentiary, and so much more within minutes! Your local grocery shops are the popular ALDI and WholeFoods, it doesn't get better than that! The property is laid out as 3 one bedroom, one bath units with one unit per floor making each unit a flat. The 1st-floor unit has a private backyard and basement access which has 7.5-foot ceiling providing the opportunity for future finish-able square footage without having to underpin. This unit is currently vacant and has a projected rent of $1100 as is. The 2nd-floor unit is currently occupied on a month-to-month lease for $950 per month and the tenant has been in place since 2016. Finally, the 3rd-floor unit is vacant with a projected rent of $800 month rounding out the total projected GROSS RENTS OF $2850 per month or $34,200 per year. A 9% CAP RATE- not too shabby! Reach out for a private showing today as this one won't last long!

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    ©2021 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 LoCoMusings | Century 21 Redwood Realty. 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: 2021-05-13T09:55:11.113.
    www.locomusings.com/homes/115486617
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    1219 N 29TH Street PHILADELPHIA, PA 19121

    • Price: $300,000
    • Status: Active
    • Updated: 57 min ago
    • ID#: PAPH1000200
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.03
    Acres
    1925
    Built
    Neighborhood:
    Brewerytown
    County:
    Philadelphia
    Area:
    19121 (19121)
    School District:
    The School District Of Philadelphia
    Property Description
    Welcome to 1219 N 29th Street, a LEGAL triplex (100% residential) with active rental licenses located in the heart of booming Brewerytown. If you are looking for a 9% CAP RATE, then this is the asset for you! The opportunities are endless here; purchase as a cash flowing triplex, live in one unit and rent out the other two, convert the 1st floor to commercial with 2 residential units above based on the CMX2 zoning guidelines or update the units to increase your gross rents and After Repair Value (ARV)! Located right off Girard Ave this location has everything you would want for future rent growth and asset appreciation; Girard trolley stop right outside plus local bus routes, Immediate access to I-76, and other major expressways! Local attractions range from breweries, cafes, parks, and nightlife right outside your door to iconic landmarks like Fairmount Park, Art Museum, Boathouse Row, Eastern State Penitentiary, and so much more within minutes! Your local grocery shops are the popular ALDI and WholeFoods, it doesn't get better than that! The property is laid out as 3 one bedroom, one bath units with one unit per floor making each unit a flat. The 1st-floor unit has a private backyard and basement access which has 7.5-foot ceiling providing the opportunity for future finish-able square footage without having to underpin. This unit is currently vacant and has a projected rent of $1100 as is. The 2nd-floor unit is currently occupied on a month-to-month lease for $950 per month and the tenant has been in place since 2016. Finally, the 3rd-floor unit is vacant with a projected rent of $800 month rounding out the total projected GROSS RENTS OF $2850 per month or $34,200 per year. A 9% CAP RATE- not too shabby! Reach out for a private showing today as this one won't last long!
    Exterior Features

    Construction Materials Brick Garage YN No Parking Types None Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 1920.00 Cooling Window Unit(S) Heating RadiatorHot Water Heating YN Yes Inclusions All Appliances in "As-Is" Condition And The Property May Or May Not Be Cleaned Out Prior To Closing. Net Square Feet 1920.00

    Property Features

    Accessibility Features None Assessment Year 2021 Association YN No Business Type Other Central Air YN No Cooling Fuel Electric Gross Income 34200.00 Heating Fuel Natural Gas Hot Water Natural Gas Incorporated City Name Philadelphia Navigable Water YN N Net Operating Income 27360.00 New Construction YN No Number Of Units Total 3 Operating Expense Includes InsuranceTrashSnow Removal Original MLSNumber 304530426695 Owner Pays WaterTrash CollectionTaxes - Real EstateRepairsInsuranceCommon Area Maintenance Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 2919.00 Tax Assessment Amount 208500.00 Tax Lot 72 Total Actual Rent 34200.00 Vacation Rental YN No Water Source Public Zoning Cmx2

    Listing courtesy of Keller Williams Philly.


    ©2021 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 LoCoMusings | Century 21 Redwood Realty. 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: 2021-05-13T09:55:11.113.
     
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