For more information regarding the value of a property, please contact us for a free consultation.
4742 RICHMOND ST Philadelphia, PA 19137
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $435,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 4,368 sqft
Price per Sqft $99
MLS Listing ID PAPH2388270
Sold Date 09/27/24
Style Other
Abv Grd Liv Area 4,368
Originating Board BRIGHT
Year Built 1910
Annual Tax Amount $3,807
Tax Year 2024
Lot Size 2,000 Sqft
Acres 0.05
Lot Dimensions 20.00 x 100.00
Property Description
Turnkey Mixed Use Investment Opportunity - Over 11% CAP Rate! The sale includes parcels: 453312700, 453128900, and 871571840. This fully occupied property presents an incredible investment opportunity with a capitalization rate (CAP rate) exceeding 11%. Located in the Bridesburg neighborhood this sale includes the parking lot at 2795-97 Kirkbride Street, this property is a rare find, combining commercial and residential income streams. Property Features: Bar/Restaurant: Monthly Rent: $4000 Lease: 5-year term with a reliable tenant ensuring steady income. Residential Units: 1 Bedroom Apartment: $700/month 5 Bedroom Apartment: $2000/month Both units are updated with hardwood floors and newer appliances, providing a modern and comfortable living experience for tenants. Additional Income: Parking Lot: $650/month rental agreement Adds value and convenience for tenants and potential additional revenue. The CAP rate for this property with a purchase price of $599,000, considering 10% for general expenses and 5% for vacancy expenses, is approximately 11.52%. Key Highlights: Turnkey investment with minimal immediate maintenance required Fully occupied with reliable tenants Updated rental units with hardwood floors and newer appliances Additional revenue from a private parking lot and city rental agreement This property is perfect for investors seeking a high return with stable, diversified income. Don’t miss out on this exceptional opportunity! For more information or to schedule a viewing, please contact us today.
Location
State PA
County Philadelphia
Area 19137 (19137)
Zoning RSA5
Interior
Hot Water Natural Gas
Heating Radiant
Cooling Wall Unit
Fireplace N
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 453312700
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition REO (Real Estate Owned)
Read Less
Bought with Derek Fulforth • KW Empower