$1,199,000

1106 Pine St

PHILADELPHIA PA, 19107

Description

Location! Location! Location! This multi unit, store front, mixed use building is one of just a few properties located on Historic Antique Row, just across the street from the Charming Louis Kahn Park. This almost 3000 square foot property houses 3, 1 bedroom apartments, 1 huge storefront, and 2 parking spaces. Spanning street to street, from Pine Street on the front to Waverly Street on the back, it is quite impressive with a 18.75 foot by 96 foot lot size. There are 2 entrances on Pine Street, 1 to a currently vacant boutique style, retail store. The store (previously rented at $1,600.00 per month) includes use of the basement, has soaring ceilings, and tons of natural light. There is also an entrance to 2, spacious 1 bedroom apartments on the upper levels. On Waverly Street, there are 2 gated parking spaces and a private access to a 1 bedroom apartment. All of the apartments have full kitchens with newer appliances including dishwashers, hardwood and carpeted flooring and unit # 1R has an in unit washer and dryer. All bathrooms include ceramic tiled walls and floors. This is a Value Add Opportunity with expansion of the building in the back and up. There is currently separate electric, however the owner pays for heat and hot water. Separate these, and give yourself a bonus. All of the 1 bedroom apartments were previously rented at $1,300.00 per month, but with some sweat equity and updating, they could easily fetch $1,500.00 per month. The owner reports that his current heat bill is approximately $2,000.00 per year, water is approximately $1,000.00 per year and building and liability insurance is approximately $2,600.00 per year. This is a blank canvas in a Blue Chip location, only blocks from Whole Foods, Starbucks, CVS, and more. Also walk to Jefferson University-Hospital, Pennsylvania Hospital, University of the Arts, Midtown Village, and the Central Business District. This handsome abode could make the perfect investment, we all know the stock market is not great now, and it also lends itself to the owner occupant.

Details

MLS#PAPH896226
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1900
Days On Site126

Features

SQ Feet2,662
Units4
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Area Information
StatePA
CountyPHILADELPHIA-PA
CityPHILADELPHIA
Zip Code19107
Area19107 (19107)
Listing VS Median (in 19107)
Price:
$1,199,000
low | high
Med:
$1,605
100% of Average
SqFt:
2,662
low | high
Med:
710
100% of Average
$ / SqFt:
$450
low | high
Med:
$2
100% of Average
On Site:
126
low | high
Med:
71
100% of Average
Listing Updated: 09/21/2020
Michael R McCann LogoMLS Number: PAPH896226
Listing Provided By:
Michael R McCann  of  Keller Williams Philly
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