1931 Wallace Street

Philadelphia, PA 19130

$1,100,000
Price
6
Beds
6
Baths
3,753 Sq. Ft.
$293 / Sq. Ft.
3,753
Sq. Ft.
$293
per Sq. Ft.

Description

Dreaming of an absolutely incredible quadruplex on a beautiful tree lined historic block in the Art Museum Area! This home balances the fullest desire for an owner occupant while providing a magnificent opportunity for rental income - or the home can easily be positioned as a lucrative buy for a savvy investor. The first floor boasts a shared entryway with paired double doors and a beautiful vestibule. Enter Unit 1, a one bedroom plus loft, with a cook’s kitchen, living room, bathroom, flex space...Dreaming of an absolutely incredible quadruplex on a beautiful tree lined historic block in the Art Museum Area! This home balances the fullest desire for an owner occupant while providing a magnificent opportunity for rental income - or the home can easily be positioned as a lucrative buy for a savvy investor. The first floor boasts a shared entryway with paired double doors and a beautiful vestibule. Enter Unit 1, a one bedroom plus loft, with a cook’s kitchen, living room, bathroom, flex space and access to a charming patio off the kitchen. The first of the second-floor units is a two bedroom, two bathroom bi-level with large kitchen and a sun filled living room with windows wrapping around the back allowing for amazing views of its own private courtyard. The second unit on the second level is also a two Bedroom, two Bathroom bi-level with great kitchen and living areas. Unit 4 is located on the third floor, you will find a generously sized apartment with a bedroom, a bathroom, a kitchen and living room. This building was redone 10 years ago, with all new wiring, plumbing, mechanicals, and roof. Each unit has its own washer and dryer, is metered separately, and the building has the potential for possible condo conversion. There is private access to the basement the provides storage and utility convenience for the building. This Boutique Building is in an unbeatable location and with-in steps to everything good that Fairmount offers. Don't let this unique opportunity pass you by, make arrangements to see the property today!
  1. Listed by Michelle Schoen • BHHS Fox & Roach-Chestnut Hill
    P: 2672513975 michelleschoenhomes@gmail.com

Property Details for 1931 Wallace Street

Tax ID Number
152088400
Ownership
Fee Simple
Structure Type
End of Row/Townhouse
Style
Straight Thru
Waterfront
No
Garage
No
Cross Street
20th
Municipality
PHILADELPHIA

Location

Listing Courtesy of BHHS Fox & Roach-Chestnut Hill
Add your commute
LISTING UPDATED: 05/13/2024 05:35 PM

Property Details for 1931 Wallace Street

StatusActive Under Contract
MLS #PAPH2345034
Days on Market10
Taxes$16,857 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1920
Lot Size0.07 AC / 2,862 SF
CountyPhiladelphia County

Location

Listing Courtesy of BHHS Fox & Roach-Chestnut Hill
Add your commute

Building Information for 1931 Wallace Street

Stories-Residences4Year Built1920Building Size-Lot Size0.07 AC / 2,862 SF

Payment Calculator

$7,408 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,003

Property Taxes

$1,405

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1931 Wallace Street

Location
Location
  • School District Name: PHILADELPHIA CITY
  • School District County ID: 802785881492
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19130 (19130)
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
Association / Community Info
Association / Community Info
  • Association Recreation Fee Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2022
  • Tax Assessed Value: $1,204,300
  • Year Assessed: 2023
  • County Tax: $0
  • Improvement Assessed Value: $963,440
  • City Town Tax: $7,607
  • Land Assessed Value: $240,860
  • Clean Green Assessed: No
  • Municipal Trash: Yes
  • Land Use Code: U50
  • Refuse Fee: $500
  • Agricultural Tax Due: No
  • Historic: Yes
  • Zoning: RM1
  • Tax Lot: 38
  • School Tax: $9,250
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Insurance, Lawn/Shrub Care, Management, Miscellaneous, Repairs, Sewer Maintenance, Snow Removal, Sewer, Taxes - Real Estate, Trash Collection
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 2
  • Two Bedroom Units Count: 2
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3
  • Units Furnished: None
  • Units Leased Count: 4
  • Number Of Units Vacant: 0
  • Number Of Units Month To Month: 1
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Beds Total: 1
  • Full Baths Count: 1
  • Total Rooms: 3
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Beds Total: 2
  • Full Baths Count: 2
  • Total Rooms: 4
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Beds Total: 2
  • Full Baths Count: 2
  • Total Rooms: 5
Unit 4
  • Type: Unit 4
  • Unit Type Occupied YN: Yes
  • Beds Total: 1
  • Full Baths Count: 1
  • Total Rooms: 3
Financial Information
Expenses
  • Operating Expense: $27,503
  • Operating Expense Includes: Insurance, Snow Removal, Trash
  • Insurance Expense: $4,100
  • Trash Expense: $500
  • Maintenance Expense: $3,000
  • Water Avg Month: $100
  • Water Prev 12 Months: $1,200
  • Electric Avg Month: $30
  • Electric Prev 12 Months: $360
  • Other Expense: $1,896
  • Professional Management Expense: $1,000
Financial Information
  • Gross Income: $95,400
  • Net Operating Income: $67,897
  • Annual Rental Income: $95,400
  • Cap Rate: 6.20
Building Info
Building Info
  • Year Major Reno Remodel: 2014
  • Building Units Total: 4
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 28.00 x 103.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 965430
  • Ground Rent Exists: No
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Spa: No
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Tri-County Suburban REALTORS

Property History for 1931 Wallace 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 1931 Wallace Street

Taxable ValueLand$240,860Additions$963,440Total$1,204,300
Tax Record2023$16,858 ($1,405 / month)
Home Facts
Total Finished SqFt3,753 SqFtAbove Grade Finished SqFt3,753 SqFtStories3Lot Size2,862 SqFtStyleMulti-Family Res (5+ Units)Year Built1920ZoningRM1CountyPHILADELPHIAAPN15-2-0884-00Fireplace TypeHas Fireplace

Schools near 1931 Wallace Street

This home is within Philadelphia City School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 5 to 12
Public - 9 to 12
Rating
School
Distance
Waring Laura W School
PublicPK to 8

Franklin Benjamin High School
Public9 to 12

Masterman Julia R Secondary School
Public5 to 12

Franklin LC
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.

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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 BHHS Fox & Roach-Chestnut Hill

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.