Price Reduction
Address
5556 Market Street, Philadelphia, PA
Price
$ 360,000
Property Attributes
- MLS#PAPH2325260
- TypeMulti-Family
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19139
- NeighborhoodWalnut Hill
- Zip19139
- Style
- Year Built1920
- Taxes$ 1308
- Price$ 360,000
- Bedrooms3
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1,742 SqFt
Data Source:
Bright MLS
Property Description
Welcome to your next investment opportunity! This turnkey mixed-use building promises excellent cash flow and minimal overhead, making it an investor's dream. Nestled in the burgeoning Walnut Hill section of Philadelphia, adjacent to the esteemed University of Pennsylvania, this property boasts three units ripe for income generation. Positioned conveniently on Market Street's south side, mere steps from the SEPTA 56th Street EL stop, accessibility is unmatched. Your tenants will relish the swift commute to Penn, Drexel, or downtown Philadelphia, thanks to the nearby elevated train. The ground floor fronts a versatile commercial space, zoned CMX2 to accommodate various business endeavors. Currently leased at $725 per month, this unit offers immediate returns. Meanwhile, the rear residential unit on the first floor presents a spacious one-bedroom apartment with kitchen, bath, flooring, heater, and washer/dryer. Priced at $1000 per month, its private fenced yard adds an extra allure. Ascending to the second floor reveals a charming two-bedroom unit, boasting a ceramic-tiled kitchen, pergo flooring, and modern amenities like high-efficiency gas forced air heat and central air. With a rental income of $1100 per month, its enclosed porch could easily transform into a third bedroom, maximizing returns. To sweeten the deal, the property offers off-street parking for 1-2 cars, potentially yielding an additional $50-$100 per month in rent. Resting on a generous 125-foot deep lot with a convenient rear alley/private driveway, convenience and flexibility abound. Whether you're eyeing a 1031 exchange, a cash sale, commercial financing, or envisioning yourself as an owner-operator, this offering caters to diverse investment strategies. Don't miss out on this golden opportunity to secure your foothold in Philadelphia's thriving real estate market!
| Price History | |
|---|---|
| 2/23/2024 | Listed $399,000 |
| 5/14/2024 | 10% - $360,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air |
| Cooling | Central A/C |
| Possession | Settlement |
| Zoning | CMX2 |
| Architectural Style | Other |
| Construction Materials | Masonry |
| Year Built | 1920 |
| Property SubType | Triplex |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | PHILADELPHIA |
| New Construction | No |
| Property Type | Multi-Family |
| Subdivision Name | WALNUT HILL |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | Market St to 55th Street |
| ModificationTimestamp | 2024-05-14T13:18:57 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 2.5 |
| Total Units | 3 |
| MLS Area | 19139 (19139) |
| Lot Size Square Feet | 1868.00 |
| Tax Assessed Value | 93500.0 |
| Waterfront Y/N | No |
| Street Name | MARKET |
| Tax Annual Amount | 1308.0 |
| Two Bedroom | 1 |
| Structure Type | Interior Row/Townhouse |
| Single Room Units Count | 1 |
| One Bedroom Units Count | 1 |
| Price Per Sq Ft | 179.19 |
| Vacation Rental Y/N | No |
| Total SQFT | 2009 |
| Days on Market | 82 |
| Standard Status | Active |
| Year Built Source | Estimated |
| Tax Lot | 129 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Basement | Unfinished |
| Hot Water | Natural Gas |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | STREET |
| Central Air Y/N | Yes |
| LivingAreaSource | Assessor |
Exterior Features
| Pool | No Pool |
|---|---|
| Water Source | Public |
| Total Parking Spaces | 1 |
| Type of Parking | Driveway |
| Land Use Code | Y30 |
| Foundation Details | Brick/Mortar |
| Water View Y/N | No |
| Lot Dimensions | 15.00 x 125.00 |
| Lot Size Acres | 0.04 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 14025.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 19139
Price
Taxes
Visits
Year Built
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