2516 FRANKFORD Philadelphia, PA 19125
UPDATED:
11/13/2024 02:59 PM
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 2,555 sqft
Price per Sqft $293
MLS Listing ID PAPH2302076
Style Traditional
Abv Grd Liv Area 2,555
Originating Board BRIGHT
Year Built 1921
Annual Tax Amount $612
Tax Year 2023
Lot Size 1,584 Sqft
Acres 0.04
Lot Dimensions 18ft wide
Property Description
CMX-2 Zoned for commercial, 5 residential units above • 1 & 2 bed units & roof deck. Eligible for a 10 year tax abatement upon completion of construction . Additional property (set up as a duplex) at 2505 Amber St is interested to sell as a package deal, therefore you can consolidate, increase the foot print of the building and add unit density. Central to large and midsize development .Located in a Qualified Opportunity Zone Strategy 1 - Bring the building to lease ready condition for a projected $4100 gross monthly income to cover the estimated $4000 monthly debt service. Pursue approvals on plans and pull permitting. factoring in expediting and response time from examiners you'll begin work in the spring time, which will aline with the ideal rental cycle for stabilizing the building. Strategy 2 - For an offer price of $780,000 Seller will finalize and coordinate with the architect to submit plans for approval. Seller will deliver approved plans at the time of closing. Buyer will be responsible for adding their contractor to eclipse and pulling/ paying for permits. Build immediately and sync with the rental cycle to stabilize the building.
Location
State PA
County Philadelphia
Area 19125 (19125)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Inclusions Proposed plans and zoning approval
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
View City
Roof Type Flat
Accessibility None
Parking Type None
Garage N
Building
Lot Description Irregular
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871142200
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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