3817 Wallace Street

Philadelphia, PA 19104

$790,000
Last Sold Price
10
Beds
8
Baths
3,110 Sq. Ft.
$254 / Sq. Ft.
3,110
Sq. Ft.
$254
per Sq. Ft.

Description

Incredible investment opportunity in a high growth area of University City! 3815-17 Wallace St includes two mirror image new construction 4 unit buildings with over 8 years left on a full 10 year Tax Abatement and is being offered with 623 N 36th St as an 11 UNIT PORTFOLIO. Buy them individually or together. Each side boasts two 2 bedroom and two 3 bedroom apartment units with top quality finishes, central A/C, and in-unit laundry. Half of the units have either a private patio or a private roof deck....Incredible investment opportunity in a high growth area of University City! 3815-17 Wallace St includes two mirror image new construction 4 unit buildings with over 8 years left on a full 10 year Tax Abatement and is being offered with 623 N 36th St as an 11 UNIT PORTFOLIO. Buy them individually or together. Each side boasts two 2 bedroom and two 3 bedroom apartment units with top quality finishes, central A/C, and in-unit laundry. Half of the units have either a private patio or a private roof deck. Get the best of both worlds with new construction buildings that do not require any work while still boasting a value add opportunity to lease at rates more in line with the market after an initial lease up during the midst of the covid lockdowns and the ability to benefit from the nearby construction boom. Great location with new construction all around, including a 30+ unit project on the same block and the neighborhood transforming development of Village Square in Haverford just over a block away. The highly anticipated uCity Square project featuring 8 million square feet of new office, lab, medical, academic, residential and commercial space is in progress just down the road. Close proximity to other economic and employment drivers such as Drexel University, Penn Presbyterian Hospital, University of Pennsylvania, the Schulykill Yards project, major transportation lines to Center City, I-76, and plenty favorite neighborhood restaurants and nightlife. All electric utilities for easy management. All three buildings are located in Federal Opportunity Zones and have a tax abatements allowing for incredibly low property taxes for many years to come. Operating Memorandum and additional lease and operations information are available upon request.

Listing Agents

  1. Kelly Widman

    Kelly Widman

    Alternative Listing Agent

    Compass

Property Details for 3817 Wallace Street

Tax ID Number
242100600
Ownership
Fee Simple
Structure Type
Other
Style
Other
Waterfront
No
Garage
No
Municipality
PHILADELPHIA
Central Air
Yes

Location

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LISTING UPDATED: 04/13/2023 03:46 PM

Property Details for 3817 Wallace Street

StatusClosed
MLS #PAPH2141756
Days on Market227
Taxes$1,945 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2020
Lot Size0.03 AC / 1,440 SF
CountyPhiladelphia County

Location

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Virtual Tour

Building Information for 3817 Wallace Street

Stories-Residences4Year Built2020Building Size-Lot Size0.03 AC / 1,440 SF

Payment Calculator

$4,473 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,311

Property Taxes

$162

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3817 Wallace Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19104 (19104)
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: $139,000
  • Year Assessed: 2023
  • City Town Tax: $878
  • Land Assessed Value: $139,000
  • Clean Green Assessed: No
  • Land Use Code: SR
  • Zoning: RM1
  • Tax Lot: 117
  • School Tax: $1,067
  • Automatically Update Tax Values Y/N: Yes
  • TaxDataUpdatedYN: No
Lease Information
Lease Information
  • Concessions: Yes
  • Concessions Amount: $15,810
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 2
  • Three Bedroom Units Count: 2
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Beds Total: 2
  • Full Baths Count: 2
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Beds Total: 2
  • Full Baths Count: 2
Unit 3
  • Type: Unit 3
  • Beds Total: 3
  • Full Baths Count: 2
Unit 4
  • Type: Unit 4
  • Beds Total: 3
  • Full Baths Count: 2
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: 3,110.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 15.00 x 96.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 1027869
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplaces Count: 0
  • Accessibility Features: 2+ Access Exits
Exterior Features
Exterior Features
  • 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: Electric
  • 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 3817 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 3817 Wallace Street

Taxable ValueLand-Additions-Total-
Tax Record2023$1,946 ($162 / month)
Home Facts
Beds0Total Finished SqFt1,074 SqFtAbove Grade Finished SqFt1,074 SqFtStories2Lot Size1,440 SqFtStyleResidentialZoningRSA5CountyPHILADELPHIAAPN24-2-1006-00

Schools near 3817 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 - 9 to 12
Rating
School
Distance
Mcmichael Morton School
PublicPK to 8

West Philadelphia High School
Public9 to 12

Philadelphia Learning Academy - South
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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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.