606 S 52ND Street

Description

606 S 52nd Street, offered at $297,000.606 S 52nd Street is a newly renovated, 2-unit commercial mixed use building that consists of a first floor commercial space and a second floor residential apartment.This is an excellent opportunity to own a newly renovated, income producing mixed-use building in prime West Philadelphia. The entire building was completely renovated in 2021, including new joists, HVAC, roof, etc. The CMX-2 zoning allows for a litany of commercial uses.Well-positioned within a dense retail corridor, along with multiple new developments in the immediate area, this is an excellent investment in an area that is primed for inflows of new business.The surrounding area has tremendous potential because of its proximity to key institutions, such as: The University of Pennsylvania, Drexel University, Penn Medicine, CHOP, and University of the Sciences.606 S 52nd Street is currently 100% occupied and produces $3,550 monthly, however, market rents indicate that this investment has the to potential to produce upwards of $4,000 / monthly under new management.The first floor commercial space is leased to AYM Boxing for $2,500 / monthly.The second floor residential apartment is leased for $1,050 / monthly.Documents Available:* Appraisal * Appraisal Value: $275,000* Leases * 1st Floor - AYM Boxing * Current Rent: $2,500 * Projected Market Rent: $2,950 * 2nd Floor - 2 Bedroom / 1 Bathroom Apartment - $1,050 * Current Rent: $1050 * Projected Market Rent: $1,450* Zoning Permit