Skip To Content

231-233 W Coulter Street

PHILADELPHIA, PA 19144
  • $816,000
  • STATUS: Closed
  • ON SITE: 149 Days
  • ID#: PAPH2135318
Sold - 11/30/2022
$816,000
SOLD - 11/30/2022
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

Large Mix Use building in desirable West Germantown location on the boarder of East Falls operating at a 7.6% cap. The building consists of 5 apartment units featuring (4) two bedroom and (1) three bedroom units, a commercial space leased through 2024 and 12 leased storage garages. The building has a Use Permit that coincides with the use along with an active rental license. The residential units also feature separately metered utilities. A truly turn key investment opportunity in a neighborhood with an influx of new construction development taking place. All of the residential leases are now on month- to -month terms offering an immediate opportunity to increase the rental income. Many of the garages rental rates can be increased as well. Located near both Jefferson University and Drexel+GGs Medical school campus, and two blocks from the Queen Lane train station, there is no shortage of residents. New construction apartment units nearby are already appraising for $250,000/unit and an abundance of neighborhood amenities continue to be introduced. Once market rate leases are executed this building will operate at an 8.4% Cap with the expectation of continued appreciation as more development and neighborhood amenities continue to be introduced.

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: 2022-12-08T10:52:46.697.
www.locomusings.com/homes/130758104
Print Image

231-233 W Coulter Street PHILADELPHIA, PA 19144

  • Price: $950,000
  • Status: Closed
  • On Site: 149 Days
  • Updated: 18 min ago
  • ID#: PAPH2135318
0
Beds
0
Baths
0
½ Baths
0.09
Acres
1900
Built
Neighborhood:
19144 (19144)
County:
Philadelphia
Area:
19144 (19144)
School District:
The School District Of Philadelphia
Property Description
Large Mix Use building in desirable West Germantown location on the boarder of East Falls operating at a 7.6% cap. The building consists of 5 apartment units featuring (4) two bedroom and (1) three bedroom units, a commercial space leased through 2024 and 12 leased storage garages. The building has a Use Permit that coincides with the use along with an active rental license. The residential units also feature separately metered utilities. A truly turn key investment opportunity in a neighborhood with an influx of new construction development taking place. All of the residential leases are now on month- to -month terms offering an immediate opportunity to increase the rental income. Many of the garages rental rates can be increased as well. Located near both Jefferson University and Drexel+GGs Medical school campus, and two blocks from the Queen Lane train station, there is no shortage of residents. New construction apartment units nearby are already appraising for $250,000/unit and an abundance of neighborhood amenities continue to be introduced. Once market rate leases are executed this building will operate at an 8.4% Cap with the expectation of continued appreciation as more development and neighborhood amenities continue to be introduced.
Exterior Features

Construction Materials Masonry Garage YN No Parking Types On Street Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 5987.00 Cooling Central A/C Heating 90% Forced Air Heating YN Yes Net Square Feet 5987.00

Property Features

Accessibility Features None Annual Gross Expense 18693.00 Assessment Year 2022 Business Type Apartment BuildingFlexMedicalStorage Buyer Financing Conventional Central Air YN Yes Cooling Fuel Electric Electric Expense 2280.00 Gross Income 95220.00 Heating Fuel Natural Gas Hot Water Electric Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 3 Original MLSNumber 801706729238 Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 3752.00 Tax Assessment Amount 268100.00 Vacation Rental YN No Water Source Public Zoning Rsa5

Listing courtesy of Pa Realty Advisors Llc: .


©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: 2022-12-08T10:52:46.697.
 
https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801706729238-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801706729238-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801706729238-2.jpg
Logo
LoCoMusings | Century 21 Redwood Realty
540 Fort Evans Road Suite 303
Leesburg VA, 20176