1216 South Street

Philadelphia, PA 19147

$849,900
Price
4
Beds
4
Baths
2,832 Sq. Ft.
$300 / Sq. Ft.
2,832
Sq. Ft.
$300
per Sq. Ft.

Description

This is your opportunity to own a triplex in an incredibly convenient location! The building consists of two nearly identical 2 bed/2 bath units on the 2nd & 3rd floors, with a versatile 15 foot wide commercial space on the first floor ready to capture an immense amount of vehicle and foot traffic. When fully occupied, this property produces a solid 6% cap rate and net cash flows of nearly $4,300/mo (P&L included in the documents tab). The 2nd/3rd floor apartments are leased and the 1st floor commercial...This is your opportunity to own a triplex in an incredibly convenient location! The building consists of two nearly identical 2 bed/2 bath units on the 2nd & 3rd floors, with a versatile 15 foot wide commercial space on the first floor ready to capture an immense amount of vehicle and foot traffic. When fully occupied, this property produces a solid 6% cap rate and net cash flows of nearly $4,300/mo (P&L included in the documents tab). The 2nd/3rd floor apartments are leased and the 1st floor commercial space has been prepped and is now ready for a new tenant. The commercial space is currently listed for rent, but the unit can be delivered vacant if the buyer wishes to operate their own business out of the 1st floor. The upstairs apartments span the entire length of the building and have ideal barbell layouts with the bedrooms on opposite ends of the apartments. These units check all the boxes with Central AC, in-unit laundry, and dishwashers. Each bedroom has its own dedicated full bathroom, with the large kitchens, dining rooms, and living rooms in between. Once you step outside of the apartments the location almost can't get any more convenient as evidenced by the WalkScore of 97 and TransitScore of 100! Not only is the location surrounded by bus routes (45 NB/SB & 40 EB/WB), but its also < 2 blocks from the Broad St. Line subway. It's also one of the unique areas in the city with multiple large grocery stores within a couple blocks as well; Whole Foods & Acme. Not to mention the nearby local favorites Roxanne BYOB, Jiggy Coffee, Brauhaus Schmitz, Angelo's Pizzeria and so many more!
  1. Listed by Stephanie Saracini • RE/MAX One Realty - TCDT
    P: 2092060256 stephaniesaracini@gmail.com
  2. Listed by Neil P Dessecker • RE/MAX One Realty - TCDT
    P: 2152411156 neil.dessecker@gmail.com

Property Details for 1216 South Street

Tax ID Number
871047400
Ownership
Fee Simple
Structure Type
Over Storefront
Style
Traditional
Waterfront
No
Garage
No
Subdivision
WASHINGTON SQ WEST
Subdivision
WASHINGTON SQ WEST (PHILADELPHIA PA)

Location

Listing Courtesy of RE/MAX One Realty - TCDT
Add your commute
LISTING UPDATED: 05/28/2024 11:08 AM

Property Details for 1216 South Street

StatusActive Under Contract
MLS #PAPH2350376
Days on Market14
Taxes$9,213 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2006
Lot Size0.03 AC / 1,119 SF
CountyPhiladelphia County

Building

1216 South St

3 StoriesBuilt in 2006

Location

Listing Courtesy of RE/MAX One Realty - TCDT
Add your commute

Building Information for 1216 South Street

Stories3Residences-Year Built2006Building Size-Lot Size0.03 AC / 1,119 SF

Payment Calculator

$5,406 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,638

Property Taxes

$768

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1216 South Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • Elementary School: JACKSON ANDREW (PHILADELPHIA PA)
  • ElementarySchoolSource: Listing Agent
  • Middle Or Junior School: JACKSON ANDREW (PHILADELPHIA PA)
  • MiddleSchoolSource: Listing Agent
  • High School: FURNESS HORACE (PHILADELPHIA PA)
  • HighSchoolSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19147 (19147)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Tax Assessed Value: $658,200
  • Year Assessed: 2023
  • Improvement Assessed Value: $526,600
  • City Town Tax: $4,157
  • Land Assessed Value: $131,600
  • Land Use Code: Y50
  • Zoning: CMX2
  • Tax Lot: 79
  • School Tax: $5,055
  • Automatically Update Tax Values Y/N: Yes
  • TaxDataUpdatedYN: No
Unit Information
Unit Information
  • Single Room Units Count: 1
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 2
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 3
  • Units Leased Count: 2
  • Number Of Units Vacant: 1
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: No
  • Level: 1
  • Unit Type Finished SQFT: 1038
  • Beds Total: 0
  • Half Baths Count: 1
  • Unit Type Features: 1st Floor Commercial Storefront
  • Total Rooms: 2
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 900
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 2
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 900
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 2
Financial Information
Financial Information
  • Gross Scheduled Income: $72,000
  • Net Operating Income: $51,217
  • Cap Rate: 6.03
  • Existing Lease Type: Yearly
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 2,832.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 15.00 x 75.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 889482
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Interior Features: Wood Floors, Sprinkler System, Store/Office
  • Accessibility Features: None
  • Security Features: Sprinkler System - Indoor, Intercom
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Natural Gas
  • Heating Type: Central
  • Heating Fuel: Natural Gas
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Greater Philadelphia Association of REALTORS

Property History for 1216 South Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1216 South Street

Taxable ValueLand$131,600Additions$526,600Total$658,200
Tax Record2023$9,213 ($768 / month)
Home Facts
Total Finished SqFt2,832 SqFtAbove Grade Finished SqFt2,832 SqFtStories3Lot Size1,119 SqFtStyleOffice BuildingYear Built2006ZoningCMX2CountyPHILADELPHIAAPN87-1-0474-00

Schools near 1216 South Street

This home is within Philadelphia City School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Fanny Jackson Coppin School
PublicPK to 8

Furness Horace High School
Public9 to 12

Academy At Palumbo
Public9 to 12

Creative And Performing Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX One Realty - TCDT

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.