2142 South Broad Street
2142 South Broad Street
$630,000
—
3,840
3,840
$164
Closed 1/31/23
Description
INVESTOR ALERT- 4 unit CMX2 building already making money with value add potential. Currently the cap rate is 5.5% with lots of potential to easily increase the cap rate and profit margin. Great location in South Philly on busy Broad St with a bus stop out front, subway stop is less then a block away, Starbucks across the street, and Methodist Hospital down the block. The building consists of 2 Renovated RESIDENTIAL Apartments, both of which have 2 bedrooms, 1 bathroom, LVP flooring, and central...INVESTOR ALERT- 4 unit CMX2 building already making money with value add potential. Currently the cap rate is 5.5% with lots of potential to easily increase the cap rate and profit margin. Great location in South Philly on busy Broad St with a bus stop out front, subway stop is less then a block away, Starbucks across the street, and Methodist Hospital down the block. The building consists of 2 Renovated RESIDENTIAL Apartments, both of which have 2 bedrooms, 1 bathroom, LVP flooring, and central HVAC. Both units were updated 3 years ago. The 2nd floor apartment also includes a unit washer dryer. Current tenants are month to month and paying $1,400 per month which is below market value. These could make great Short-Term Rentals like Air BNB because of the location. LOWEL LEVEL COMMERCIAL rental unit is rented as offices. Current tenant has just under 3 years left on lease, but willing to terminate should new owner want. They are paying $1,150 with rent going to $1,200 the last 2 years. FIRST FLOOR COMMERCIAL rental unit was used by the current owner as a dental practice. He has since retired. This unit needs to be cleaned out and updated. Can easily rent for $1,400-$1,500 per month. We had a lot of interest but current owner did not get it cleaned out. Not all of the utilities are divided up including gas. You can easily have a gas meter and divide the heat and add profit. Please inquire about the market cap analysis. Sale Part of a 1031 Exchange.
Property Details for 2142 South Broad Street
Tax ID Number
871122000
OwnershipFee Simple
Structure TypeInterior Row/Townhouse
StyleTraditional
WaterfrontNo
GarageNo
MunicipalityPHILADELPHIA
Central AirYes
Location
LISTING UPDATED: 09/01/2023 07:03 PM
Property Details for 2142 South Broad Street
Status | Closed |
---|---|
MLS # | PAPH2121378 |
Days on Market | 197 |
Taxes | $4,994 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | 1920 |
Lot Size | 0.03 AC / 1,344 SF |
County | Philadelphia County |
Location
Building Information for 2142 South Broad Street
Stories-Residences4Year Built1920Building Size-Lot Size0.03 AC / 1,344 SF
Payment Calculator
$3,854 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2142 South Broad Street
Property History for 2142 South Broad Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2142 South Broad Street
Taxable ValueLand$83,340Additions$333,360Total$416,700
Tax Record2023$5,833 ($486 / month)
Home Facts
Total Finished SqFt3,066 SqFtAbove Grade Finished SqFt3,066 SqFtStories3Lot Size1,344 SqFtStyleOffice BuildingYear Built1920ZoningCMX2CountyPHILADELPHIAAPN87-1-1220-00
Schools near 2142 South Broad Street
This home is within Philadelphia City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 4 | |||
Public - | 5 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Girard Stephen School PublicK to 4 | ||
Gamp Public5 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.
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