Skip To Content

2142 S Broad Street

PHILADELPHIA, PA 19145
  • $795,000
  • STATUS: Active
  • ON SITE: 143 Days
  • ID#: PAPH2097032
UPDATED: 37 min ago
$795,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Ratings & Info

Description

INVESTOR ALERT- 4 unit CMX2 building already making money with value add potential. Currently the cap rate is 5.5% with lots of potential to easily increase the cap rate and profit margin. Great location in South Philly on busy Broad St with a bus stop out front, subway stop is less then a block away, Starbucks across the street, and Methodist Hospital down the block. The building consists of 2 Renovated RESIDENTIAL Apartments, both of which have 2 bedrooms, 1 bathroom, LVP flooring, and central HVAC. Both units were updated 3 years ago. The 2nd floor apartment also includes a unit washer dryer. Current tenants are month to month and paying $1,400 per month which is below market value. These could make great Short-Term Rentals like Air BNB because of the location. LOWEL LEVEL COMMERCIAL rental unit is rented as offices. Current tenant has just under 3 years left on lease, but willing to terminate should new owner want. They are paying $1,150 with rent going to $1,200 the last 2 years. FIRST FLOOR COMMERCIAL rental unit was used by the current owner as a dental practice. He has since retired. This unit needs to be cleaned out and updated. Can easily rent for $1,400-$1,500 per month. We had a lot of interest but current owner did not get it cleaned out. Not all of the utilities are divided up including gas. You can easily have a gas meter and divide the heat and add profit. Please inquire about the market cap analysis.

Monthly Payment Calculator



©2022 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: 2022-08-14T22:58:56.39.
www.locomusings.com/homes/127003733
Print Image

2142 S Broad Street PHILADELPHIA, PA 19145

  • Price: $795,000
  • Status: Active
  • On Site: 143 Days
  • Updated: 37 min ago
  • ID#: PAPH2097032
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1920
Built
Neighborhood:
19145 (19145)
County:
Philadelphia
Area:
19145 (19145)
School District:
The School District Of Philadelphia
Property Description
INVESTOR ALERT- 4 unit CMX2 building already making money with value add potential. Currently the cap rate is 5.5% with lots of potential to easily increase the cap rate and profit margin. Great location in South Philly on busy Broad St with a bus stop out front, subway stop is less then a block away, Starbucks across the street, and Methodist Hospital down the block. The building consists of 2 Renovated RESIDENTIAL Apartments, both of which have 2 bedrooms, 1 bathroom, LVP flooring, and central HVAC. Both units were updated 3 years ago. The 2nd floor apartment also includes a unit washer dryer. Current tenants are month to month and paying $1,400 per month which is below market value. These could make great Short-Term Rentals like Air BNB because of the location. LOWEL LEVEL COMMERCIAL rental unit is rented as offices. Current tenant has just under 3 years left on lease, but willing to terminate should new owner want. They are paying $1,150 with rent going to $1,200 the last 2 years. FIRST FLOOR COMMERCIAL rental unit was used by the current owner as a dental practice. He has since retired. This unit needs to be cleaned out and updated. Can easily rent for $1,400-$1,500 per month. We had a lot of interest but current owner did not get it cleaned out. Not all of the utilities are divided up including gas. You can easily have a gas meter and divide the heat and add profit. Please inquire about the market cap analysis.
Exterior Features

Construction Materials Masonry Door Features Double EntryAtrium Garage YN No Parking Types On Street Property Condition GoodVery Good Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3840.00 Cooling Central A/C Exclusions Tenants Personal Property. Heating CentralRadiator Heating YN Yes Inclusions Appliances in Residential Apartments. Net Square Feet 3840.00

Property Features

Acceptable Financing CashConventionalOther Accessibility Features None Annual Gross Expense 20694.00 Assessment Year 2022 Business Type Day Care FacilityFlexHair Salon And SpaMedicalOther/General RetailProfessionalOther Central Air YN Yes Cooling Fuel Electric Gross Income 64200.00 Heating Fuel Natural Gas Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N Net Operating Income 43506.00 New Construction YN No Number Of Units Total 4 Operating Expense Includes InsuranceRepair/MaintenanceSewerWaterOther Original MLSNumber 801423836804 Ownership Interest Fee Simple Possession 0-30 Days Cd31-60 Days CdImmediateNegotiable Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 4994.00 Tax Assessment Amount 356800.00 Tax Lot 301 Transportation Bus Stop Less Than 1 MileMetro/Subway Station Less Than 1 Mile Vacation Rental YN No Water Source Public Year Built Effective 2019 Zoning Cmx2 Zoning Description Mixed Use Building With 2 Residential And 2 Commercial Units.

Listing courtesy of Keller Williams Philly.


©2022 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: 2022-08-14T22:58:56.39.
 
https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801423836804-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801423836804-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801423836804-2.jpg
Logo
LoCoMusings | Century 21 Redwood Realty
540 Fort Evans Road Suite 303
Leesburg VA, 20176