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Key Details
Sold Price $328,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,406 sqft
Price per Sqft $136
Subdivision East Falls
MLS Listing ID PAPH2207070
Sold Date 07/19/23
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $2,044
Tax Year 2020
Lot Size 1,794 Sqft
Acres 0.04
Property Description
Welcome to 6355 Germantown Ave, an incredible value-add opportunity located in the heart of a rapidly developing block of Germantown Avenue. This property features a ground floor commercial space and two 1-bedroom residential units, all with separate electric meters. With lots of development projects happening around the property, now is the perfect time to invest in this up-and-coming area and unlock the property's full potential.
The commercial unit boasts drop ceilings, basement/storage access, and a powder room, while the residential units offer cozy and comfortable living spaces. The tenants have been in place for an impressive 30 years, but with the property's layout remaining the same since it was first built, there is plenty of room for improvements that will increase the property's rental income potential.
With two heating systems, including electric forced heating and gas radiator, this property is set up to provide comfortable living spaces in all seasons. The residential units feature electric cooking, and with rents that have never been raised, there is significant upside potential for the savvy investor. This is a fantastic opportunity to invest in a property with strong value-add potential in a rapidly developing area with plenty of room for growth. Don't miss out on this incredible opportunity to unlock the full potential of this investment property!
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning CMX2
Interior
Hot Water Natural Gas, Electric
Heating Hot Water, Forced Air
Cooling None
Flooring Luxury Vinyl Plank, Luxury Vinyl Tile, Vinyl
Equipment Some
Heat Source Natural Gas, Electric
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Foundation Stone
Sewer Public Hook/Up Avail
Water Public Hook-up Available
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871580350
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with Thomas A. Greer • Coldwell Banker Realty
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John Martinich
Co-Owner | License ID: VA-0225221526
Co-Owner License ID: VA-0225221526