School District: The School District Of Philadelphia
Address: 1551 N FRANKLIN ST
Property Taxes: $0
Motivated Seller. Submit all Offers. New construction mixed-use triplex with approved 10 year tax abatement! At approx. 4200 sq. ft., 4 story corner lot, and located in the booming Ludlow/Olde Kensington area, this property is a great investment opportunity, priced to sell. The two residential apartments are rented at $2100/mo for Unit 3, $1300/mo for Unit 2. Projected rent for commercial space (unit 1) is at least $1700/mo. That is a cap rat of over 7.0%! (Rental Pro Forma Attached) This property is perfect for a business owner operating their business in the extra large bi-level commercial space downstairs, and collect additional income from the two apartments or an investor simply wanting to add to their portfolio a large triplex with great potential for profit! Unit 1 is a large bi-level commercial space with separate side entrance, a backyard, a large ADA restroom and a second downstairs restroom for convenience. Unit 2 is a 1 bed/1 bath apartment with open floor plan, modern energy-efficient appliances, in-unit laundry, and beautiful finishes. Unit 3 is a bi-level 3 bed/2.5 bath apartment which has a spectacular rooftop deck with 360-degree views of the city, master suite, in-unit laundry, and a bonus area that can be used as a dining are, home office space, or just as an open space for entertaining. Some spectacular features include quartz counter-top kitchens, modern appliances, laminate flooring, luxurious vanity and elegantly tiles baths, walk-in closet, fiberglass roof deck, brick facade, high ceilings, security cameras, video doorbell intercom, etc. This is a rare investment opportunity at a great value!
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Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 14th April, 2021 7:17 PM
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