1405 Reed Street

Philadelphia, PA 19146

$499,000
Price
4
Beds
5
Baths
2,225 Sq. Ft.
$224 / Sq. Ft.
2,225
Sq. Ft.
$224
per Sq. Ft.

Description

Calling all investors, come check out this amazing opportunity to purchase in an already up and coming area of the the city. Conveniently located 1 block from Broad street, this 5-unit income producing property is ideal for your investment portfolio! The building has 4 one bedroom units and 1 studio. Three of the five units have been updated and have significant room to raise rents. Updating on the remaining units would bring all apartments to market rent and make this asset an amazing cash flowing...Calling all investors, come check out this amazing opportunity to purchase in an already up and coming area of the the city. Conveniently located 1 block from Broad street, this 5-unit income producing property is ideal for your investment portfolio! The building has 4 one bedroom units and 1 studio. Three of the five units have been updated and have significant room to raise rents. Updating on the remaining units would bring all apartments to market rent and make this asset an amazing cash flowing investment. Tenants pay all utilities except for water. All leases and rental licenses available upon request. Please allow 48 hours for showing approval. Make an appointment ASAP before this property is sold!
  1. Listed by Matthew Robertson • OCF Realty LLC - Philadelphia
    P: 6103683272 robertson5017@gmail.com
  2. Listed by Kevin M McGettigan • OCF Realty LLC - Philadelphia
    P: 8563470434 kevinmcg@ocfrealty.com

Property Details for 1405 Reed Street

Tax ID Number
365347500
Ownership
Fee Simple
Structure Type
Interior Row/Townhouse
Style
Straight Thru
Waterfront
No
Garage
No
Municipality
PHILADELPHIA
Total Parking Spaces
0

Location

Listing Courtesy of OCF Realty LLC - Philadelphia
Add your commute
LISTING UPDATED: 04/02/2024 06:34 PM

Property Details for 1405 Reed Street

StatusActive
MLS #PAPH2316726
Days on Market91
Taxes$8,284 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1915
Lot Size0.03 AC / 1,440 SF
CountyPhiladelphia County

Building

1405 Reed St

3 StoriesBuilt in 1915

Location

Listing Courtesy of OCF Realty LLC - Philadelphia
Add your commute

Building Information for 1405 Reed Street

Stories3Residences-Year Built1915Building Size-Lot Size0.03 AC / 1,440 SF

Payment Calculator

$3,414 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,723

Property Taxes

$690

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1405 Reed Street

Location
Location
  • School District Name: PHILADELPHIA CITY
  • School District County ID: 802785881492
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19146 (19146)
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: $591,800
  • Year Assessed: 2023
  • County Tax: $0
  • Improvement Assessed Value: $473,440
  • City Town Tax: $3,738
  • Land Assessed Value: $118,360
  • Clean Green Assessed: No
  • Land Use Code: U50
  • Zoning: RSA5
  • Tax Lot: 15
  • School Tax: $4,545
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Water, Common Area Maintenance
Unit Information
Unit Information
  • Single Room Units Count: 1
  • One Bedroom Units Count: 4
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3
  • Units Leased Count: 5
  • Number Of Units Vacant: 1
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Beds Total: 0
  • Full Baths Count: 1
Unit 2
  • Type: Unit 2
  • Beds Total: 1
  • Full Baths Count: 1
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Beds Total: 1
  • Full Baths Count: 1
Unit 4
  • Type: Unit 4
  • Unit Type Occupied YN: Yes
  • Beds Total: 1
  • Full Baths Count: 1
Unit 5
  • Type: Unit 5
  • Unit Type Occupied YN: Yes
  • Beds Total: 1
  • Full Baths Count: 1
Financial Information
Financial Information
  • Gross Scheduled Income: $48,840
  • Annual Rental Income: $48,840
  • Existing Lease Type: Yearly, Month to Month
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: 2,225.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 18.00 x 80.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 1125086
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: None
  • Cooling Fuel: None
  • Heating Type: Baseboard - Electric
  • Heating Fuel: Electric
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Tri-County Suburban REALTORS

Property History for 1405 Reed 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 1405 Reed Street

Taxable ValueLand$118,360Additions$473,440Total$591,800
Tax Record2023$8,284 ($690 / month)
Home Facts
Total Finished SqFt2,225 SqFtAbove Grade Finished SqFt2,225 SqFtStories3Lot Size1,440 SqFtStyleMulti-Family Res (5+ Units)Year Built1915ZoningRSA5CountyPHILADELPHIAAPN36-5-3475-00

Schools near 1405 Reed Street

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

South Philadelphia High School
PublicPK to 12

Creative And Performing Arts
Public9 to 12

Academy At Palumbo
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

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Similar Sold Homes

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1405 Reed Street is a multi-family home for sale in Philadelphia, PA 19146. This property was listed for sale on January 29, 2024 by OCF Realty LLC - Philadelphia, it's currently listed at $499,000. It has been on the market for a total of 91 days and was last sold on October 9, 2017. This listing's school district is Philadelphia City School District. Nearby schools include Childs George W School, South Philadelphia High School and Creative And Performing Arts. 1405 Reed Street is a 4-bed, 5-bath, 2,225 sqft multi-family home built in 1915.

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 OCF Realty LLC - Philadelphia

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.