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2434 S Broad Street

PHILADELPHIA, PA 19145
  • $529,000
  • STATUS: Active Under Contract
  • ON SITE: 24 Days
  • ID#: PAPH2042376
Under Contract
UPDATED: 70 min ago
$529,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Ratings & Info

Description

Investment opportunity at 2434 South Broad Street. This property is a blank canvas and can be used for both commercial and residential purposes. The CMX2 zoning allows for a wide variety of businesses that can be placed in the 1st FL space. The 1st FL has appx: 1000 SQFT with a storefront, kitchen, bathroom, and laundry/storage space. This space can be renovated to fit a wide variety of businesses such as a Doctor+GGs Office, Restaurant, Retail Store, etc. The 1st FL space can be rented for appx $2000/month after improvements. The 2nd and 3rd floors can be used for a rental apartment after improvements. The 2nd FL has appx 900 SQFT with a living room, kitchen, full bathroom and access to the rear patio. The 3rd FL has appx 900 SQFT with 3 bedrooms and after updating, the combined 2nd& 3rd floors can be rented for appx $1850/month. The property is located across the street from Methodist Hospital and has easy access to public transportation and major highways. Shopping is readily available with two supermarkets within a 10 min walk. There are also a wide variety of local restaurants within walking distance of the property. This property is perfect for anyone looking to build out their business to their own specifications or just have a passive rental income property. With some improvements and updates to this property, the anticipated NOI estimate is $46,200.00 which produces a CAP Rate of 7.70%* after taking into considerations the cost of improvements. Buyer responsible for U&O certificates and zoning verification. Property will be sold in a AS-IS condition. Note: Property is currently vacant and requires renovations. All estimates and financial figures are based on potential income after renovations, improvements and or updating. *Reference Offering Memorandum for Cap Rate estimate figures.

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©2021 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 Seti & Company | Long and Foster Realtors. 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: 2021-11-28T08:50:03.083.
www.setisellshomes.com/homes/122999115
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2434 S Broad Street PHILADELPHIA, PA 19145

  • Price: $529,000
  • Status: Active Under Contract
  • On Site: 24 Days
  • Updated: 70 min ago
  • ID#: PAPH2042376
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1920
Built
Neighborhood:
19145 (19145)
County:
Philadelphia
Area:
19145 (19145)
School District:
The School District Of Philadelphia
Property Description
Investment opportunity at 2434 South Broad Street. This property is a blank canvas and can be used for both commercial and residential purposes. The CMX2 zoning allows for a wide variety of businesses that can be placed in the 1st FL space. The 1st FL has appx: 1000 SQFT with a storefront, kitchen, bathroom, and laundry/storage space. This space can be renovated to fit a wide variety of businesses such as a Doctor+GGs Office, Restaurant, Retail Store, etc. The 1st FL space can be rented for appx $2000/month after improvements. The 2nd and 3rd floors can be used for a rental apartment after improvements. The 2nd FL has appx 900 SQFT with a living room, kitchen, full bathroom and access to the rear patio. The 3rd FL has appx 900 SQFT with 3 bedrooms and after updating, the combined 2nd& 3rd floors can be rented for appx $1850/month. The property is located across the street from Methodist Hospital and has easy access to public transportation and major highways. Shopping is readily available with two supermarkets within a 10 min walk. There are also a wide variety of local restaurants within walking distance of the property. This property is perfect for anyone looking to build out their business to their own specifications or just have a passive rental income property. With some improvements and updates to this property, the anticipated NOI estimate is $46,200.00 which produces a CAP Rate of 7.70%* after taking into considerations the cost of improvements. Buyer responsible for U&O certificates and zoning verification. Property will be sold in a AS-IS condition. Note: Property is currently vacant and requires renovations. All estimates and financial figures are based on potential income after renovations, improvements and or updating. *Reference Offering Memorandum for Cap Rate estimate figures.
Exterior Features

Construction Materials Masonry Garage YN No Location Type Urban Parking Types On Street Property Condition Good Riparian Rights YN No Road Responsibility City/County Road Surface Type Black Top Roof Unknown Soil Types Unknown Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 2753.00 Cooling Central A/CWindow Unit(S) Flooring WoodCarpet Heating Forced AirHot Water Heating YN Yes Net Square Feet 2753.00

Property Features

Acceptable Financing CashConventional Accessibility Features 2+ Access Exits Assessment Year 2021 Building Permits Unknown Business Type MedicalOther/General RetailProfessionalRestaurant/BarOther Central Air YN Yes Cooling Fuel Electric Cross Street Porter St Electric 120/240V Entry Level 1 Foundation Details Concrete PerimeterBrick/Mortar Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Lease Considered YN No Municipality Philadelphia Navigable Water YN N New Construction YN No Original MLSNumber 801156968768 Ownership Interest Fee Simple Possession 0-30 Days Cd Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 3611.00 Tax Assessment Amount 258000.00 Tax Lot 284 Transportation Bus Stop Less Than 1 MileMetro/Subway Station Less Than 1 MileAirport Less Than 10 Miles Vacation Rental YN No Water Source Public Zoning Cmx2

Listing courtesy of Reliable Realty Llc.


©2021 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 Seti & Company | Long and Foster Realtors. 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: 2021-11-28T08:50:03.083.
 
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