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5203 N BROAD ST Philadelphia, PA 19141
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Key Details
Sold Price $85,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Logan
MLS Listing ID 1003633143
Sold Date 04/28/17
HOA Y/N N
Originating Board TREND
Year Built 1930
Annual Tax Amount $1,736
Tax Year 2017
Lot Size 2,408 Sqft
Acres 0.06
Lot Dimensions 45X54
Property Description
Alerting all investors, landlords business owners looking for a multi use properties. This architecturally unique Victorian property is located on busy Broad Street right in front of Einstein hospital and is priced to sell. This property also has a lot on the side giving you 45 feet of frontage right on Broad Street. Buildings along this stretch of Broad street are listed for hundreds of thousands more and rarely ever go up for sale! The property is being sold in "as is" condition. It has been carefully maintained by the same owner for the past 30 years and was used as his home as well as a meeting place for his mininstry on the first floor space. The entire property is owner occupied but was originally fitted out for a commercial use on the first floor space and a 2 bedroom apartment with full bath & kitchen on the 2nd floor and 1 bedroom apt with full bath and kitchen on the 3rd floor. A spacious entry vestibule gives you access to the separate entrance to the first floor unit and another separate entrance to the staircase that leads to a separate entry door to the 2nd floor apt and separate entry door to the 3rd floor apt. This property has multiple uses. 1)The competitive offering price along with the first floor open floor plan allows potential business owner's to easily customize their new business space to suit their needs 2) You can rent one or more units and live in one of the apts generating monthly income to pay your mortgage 3)Investors or landlords can rent out all 3 units and capture an astounding above market return on their investment. Because of this property's location in front of Einstein Hospital, buildings along this stretch of Broad street are highly sought after for doctor's offices, daycare and many other healthcare uses. There is ample parking in front of the property on Broad street and the street behind the property. First floor Space - Oil Heat w separate meter , has central air ducts but central AC unit not working Second floor Apt- Gas Heat w separate meter, No Central Air Third floor Apt - Gas Heat w separate meter, No central Air Electric is currently on one meter, but was on 3 meters before and can be easily modified to 3 meters again. Be the first to own a rare architectural gem on the most coveted block on Broad Street in the Einstein hospital area for hundreds of thousands less than other listed properties in the area.,The projected income on this property for the 3 units in as is condition: First Floor- Commercial space- 800 Second Floor- 2 Bedroom - 675 Third Floor - 1 Bedroom - 595 Total Projected Yearly Income 24,840 Yearly Expenses (2,954), Net projected Yearly Income 21,886. See attached Cap Rate projections sheet.
Location
State PA
County Philadelphia
Area 19141 (19141)
Zoning RTA1
Rooms
Other Rooms Primary Bedroom
Interior
Fireplace N
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 493249000
Ownership Fee Simple
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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Bought with Boris Kindij • Tesla Realty Group, LLC