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606 S 52ND Street

PHILADELPHIA, PA 19143
  • $297,000
  • STATUS: Active
  • ON SITE: 73 Days
  • ID#: PAPH2121186
UPDATED: 53 min ago
$297,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1925
County:

School Ratings & Info

Description

Real Estate Management Advisors is pleased to present the exclusive listing for 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, the full list of options is available in our Offering Memorandum.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.The complete offering terms and financials are in the Offering Memorandum, which is available from Justin DeMicco.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 PermitPrimary Contact: Justin DeMicco

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©2022 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 Debbie Jett | Exp Realty. 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: 2022-08-07T23:58:26.183.
www.debbiejett.com/homes/129183834
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606 S 52ND Street PHILADELPHIA, PA 19143

  • Price: $297,000
  • Status: Active
  • On Site: 73 Days
  • Updated: 53 min ago
  • ID#: PAPH2121186
0
Beds
0
Baths
0
½ Baths
0.04
Acres
1925
Built
Neighborhood:
Cobbs Creek
County:
Philadelphia
Area:
19143 (19143)
School District:
The School District Of Philadelphia
Property Description
Real Estate Management Advisors is pleased to present the exclusive listing for 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, the full list of options is available in our Offering Memorandum.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.The complete offering terms and financials are in the Offering Memorandum, which is available from Justin DeMicco.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 PermitPrimary Contact: Justin DeMicco
Exterior Features

Construction Materials Masonry Garage YN No Parking Types On Street Property Condition Very Good Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 1834.00 Cooling Central A/C Flooring Luxury Vinyl Plank Heating Central Heating YN Yes Net Square Feet 1834.00

Property Features

Acceptable Financing CashConventionalFhaNegotiable Accessibility Features 2+ Access Exits Assessment Year 2022 Building Permits On Hand Business Type Apartment BuildingOther/General RetailHealth Club Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Multi-Tank Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 2 Original MLSNumber 801599185414 Ownership Interest Fee Simple Possession Negotiable Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 1049.00 Tax Assessment Amount 75000.00 Tax Lot 34 Total Actual Rent 42600.00 Vacation Rental YN No Water Source Public Year Built Effective 2021 Zoning Cmx2

Listing courtesy of Real Estate Management Advisors Llc.


©2022 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 Debbie Jett | Exp Realty. 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: 2022-08-07T23:58:26.183.
 
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Debbie Jett | Exp Realty
1320 Central Park Boulevard
Fredericksburg VA, 22401