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Philadelphia,PA 19119
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $150
Subdivision Mt Airy (East)
MLS Listing ID PAPH2509682
Style Victorian,Other
Abv Grd Liv Area 5,000
Year Built 1890
Annual Tax Amount $9,970
Tax Year 2024
Lot Size 2,783 Sqft
Acres 0.06
Lot Dimensions 35.00 x 79.00
Property Sub-Type Detached
Source BRIGHT
Property Description
Beautiful, unique 1880's grain mill building fully renovated and converted into three (3) spacious two-bedroom, one bath apartments with a huge adjoining/attached workshop/warehouse/studio space with driveway. Located in the desirable Mt. Airy neighborhood of Philadelphia, all three apartments are thoughtfully and fully renovated, each featuring the unique exposed original wood beams from the grain mill and many large windows in each unit that give great natural light in every area of the space. Each apartment is approximately 1,200 SF with open floor plans, in excellently maintained condition, with central HVAC, in-unit private laundry, and wood plank flooring. All utilities are separated - tenants pay HVAC, electric, gas, hot water. The bonus large commercial-grade (owner-occupied) workshop space has massive potential, with an estimated projected rent of at least $1,500/month. The workspace has a concrete slab floor, high 13' ceiling height, and a large overhead garage door and is very secure. Gross yearly rental income ($72,000) includes projected garage/studio space rent of $1,500 per month, making this a fabulous investment or even potentially a mixture of an owner-occupied situation. This is a cash-flow positive property that is in great condition, with all systems (plumbing, electric, etc.) fully replaced and modernized, low maintenance, and easy renting in a top neighborhood with high demand from an excellent rental pool. The perfect opportunity for both new and seasoned investors seeking a stable, income-generating multifamily property in a prime location near a popular commercial strip with a grocery store, restaurant, cafe, retail, and a bakery just a half block away. Truly unlike any other triplex in the area with its original charm that has been lovingly maintained during the current owners' 40+ years of ownership.
24 HOUR NOTICE required for showings due to the property being fully occupied by excellent tenants. All showings through agent.
Location
State PA
County Philadelphia
Area 19119 (19119)
Zoning CMX2
Rooms
Basement Full
Interior
Interior Features Combination Kitchen/Living,Combination Dining/Living,Ceiling Fan(s),Floor Plan - Open,Kitchen - Eat-In,Kitchen - Island
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Hardwood,Wood
Inclusions All Appliances
Equipment Dishwasher,Dryer - Gas,Exhaust Fan,Oven/Range - Gas,Range Hood,Refrigerator,Washer,Washer/Dryer Stacked
Fireplace N
Window Features Double Hung
Appliance Dishwasher,Dryer - Gas,Exhaust Fan,Oven/Range - Gas,Range Hood,Refrigerator,Washer,Washer/Dryer Stacked
Heat Source Natural Gas
Exterior
Parking Features Additional Storage Area,Garage - Side Entry,Oversized,Inside Access
Garage Spaces 8.0
Water Access N
Accessibility None
Attached Garage 6
Total Parking Spaces 8
Garage Y
Building
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Victorian,Other
Additional Building Above Grade,Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 221188205
Ownership Fee Simple
SqFt Source Assessor
Security Features Fire Detection System
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard