1631 Wallace Street

Philadelphia, PA 19130

$858,000
Last Sold Price
3
Beds
3
Baths
3,660 Sq. Ft.
$234 / Sq. Ft.
3,660
Sq. Ft.
$234
per Sq. Ft.

Description

Rare opportunity to own an income producing mixed-use building in the heart of the Spring Garden - Art Museum Area with 2-CAR PARKING and a private garden. Just two blocks south of bustling Fairmount Ave; the primary retail & restaurant corridor in the neighborhood. Located on the corner of 17th and Wallace Street. Three exposures and soaring 11 ft plus ceilings (original plaster moldings and tile) provide an abundance of natural light. This property consists of two residential apartments and one...Rare opportunity to own an income producing mixed-use building in the heart of the Spring Garden - Art Museum Area with 2-CAR PARKING and a private garden. Just two blocks south of bustling Fairmount Ave; the primary retail & restaurant corridor in the neighborhood. Located on the corner of 17th and Wallace Street. Three exposures and soaring 11 ft plus ceilings (original plaster moldings and tile) provide an abundance of natural light. This property consists of two residential apartments and one commercial space all with central A/C. The commercial and residential tenants each have their own entrance. All units are separately metered. Access to the 2-car parking and garden are through an exterior gated entrance on 17th Street or through the rear exit of the commercial unit. Spectacular first floor commercial space with half bath. Most recently occupied by a barbershop/salon and cafe prior to that. Exceptional potential to customize this space to your aesthetic or allow a new tenant to outfit for their needs. The commercial tenant has in-unit access to the unfinished basement providing an additional 1,200 sq ft of storage space. Residential tenants enter through a private entrance on 17th Street. Unit #2 (currently owner occupied) is a spacious 1 bedroom, 1 bath flat with in-unit washer/dryer and an amazing open living concept. An additional bedroom could be added to create a 2 bed, 1 bath apartment increasing the rent (projected rent as-is: $1,650/mo). Enter unit #3 on the second floor into a private foyer and up one flight of steps awaits another generously sized apartment. This 2 bed, 1 bath residence spans the entire third floor and overlooks the private garden from the living and dining area and has Center City skyline views from the larger southern facing bedroom. In-unit washer/dryer. Unit #3 is rented significantly under market value at $1,700/mo. Projected rent for this unit is $2,150/mo. Prime location. A short walk to restaurants, retail, cafes, and much more. 5 minute drive to Rittenhouse Square. Convenient transit options including the Broad Street Line.

Listing Agents

  1. Jeff City Block

    Jeff City Block

    Listing Agent

    Compass

    jeff.block@compass.com

    P: 215.833.7088

  2. Martin Goldfarb

    Martin Goldfarb

    Alternative Listing Agent

    Compass

Property Details for 1631 Wallace Street

Tax ID Number
871074900
Ownership
Fee Simple
HOA
No
Structure Type
End of Row/Townhouse
Style
Other
Waterfront
No
Garage
No
Expected On Market Date
04-21-2021

Location

Sold By Liberty Real Estate

Add your commute
LISTING UPDATED: 05/06/2022 03:02 PM

Property Details for 1631 Wallace Street

StatusClosed
MLS #PAPH1006570
Days on Market15
Taxes$10,072 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1917
Lot Size0.05 AC / 2,100 SF
CountyPhiladelphia County

Building

1631 Wallace St

3 StoriesBuilt in 1917

Location

Sold By Liberty Real Estate

Add your commute

Building Information for 1631 Wallace Street

Stories3Residences-Year Built1917Building Size-Lot Size0.05 AC / 2,100 SF

Payment Calculator

$5,522 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,682

Property Taxes

$839

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1631 Wallace Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • 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
  • Type of Condo
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2021
  • Tax Assessed Value: $719,500
  • Year Assessed: 2021
  • Improvement Assessed Value: $575,600
  • City Town Tax: $4,545
  • Land Assessed Value: $143,900
  • Clean Green Assessed: No
  • Land Use Code: Y50
  • Zoning: RM1
  • Tax Lot: 139
  • School Tax: $5,526
  • Automatically Update Tax Values Y/N: Yes
  • TaxDataUpdatedYN: No
Lease Information
Lease Information
  • Concessions: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 1
  • Two Bedroom Units Count: 1
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 3
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: No
  • Unit Type Finished SQFT: 1200
  • Beds Total: 0
  • Full Baths Count: 1
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Unit Type Finished SQFT: 1260
  • Beds Total: 1
  • Full Baths Count: 1
  • Unit Type Features: Currently Owner's Unit
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Unit Type Finished SQFT: 1300
  • Beds Total: 2
  • Full Baths Count: 1
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 3,660.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 20.00 x 105.00
  • Lot Dimensions Source: Assessor
  • Road Frontage Length: 125.00
  • Location Type: Other
  • Parcel ID: 926644
Parking
Parking
  • Type Of Parking: Driveway
  • Driveway - # of Spaces: 2
  • Parking Features: Secure Parking
Interior Features
Interior Features
  • Interior Features: Ceiling Fan(s), Crown Moldings, Flat, Floor Plan - Open, Kitchen - Galley, Kitchen - Island, Tub Shower
  • Fireplace: No
  • Fireplaces Count: 0
  • Appliances: Built-In Range, Cooktop, Dryer - Electric, Refrigerator, Washer, Dryer
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Outdoor Living Structures: Enclosed, Patio(s)
  • Pool: No Pool
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C, Zoned
  • Cooling Fuel: Natural Gas
  • Heating Type: Forced Air, Central
  • Heating Fuel: Electric, Natural Gas
  • Hot Water: Multi-tank
  • Water Source: Public
  • Sewer Septic: Public Sewer

Property History for 1631 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 1631 Wallace Street

Taxable ValueLand-Additions-Total-
Tax Record2023$9,685 ($807 / month)
Home Facts
Total Finished SqFt3,660 SqFtAbove Grade Finished SqFt3,660 SqFtStories3Lot Size2,100 SqFtStyleOffice BuildingYear Built1915ZoningRM1CountyPHILADELPHIAAPN87-1-0749-00

Schools near 1631 Wallace 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 - 5 to 12
Rating
School
Distance
Waring Laura W School
PublicPK to 8

Franklin Benjamin High School
Public9 to 12

Franklin LC
Public9 to 12

Masterman Julia R Secondary School
Public5 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.

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.