623 North 32nd Street

Philadelphia, PA 19104

$419,900
Price
6
Beds
3
Baths
2,667 Sq. Ft.
$157 / Sq. Ft.
2,667
Sq. Ft.
$157
per Sq. Ft.

Description

NOTE: Property is hugely over Assessed. The assessment has been appealed and we're awaiting agreement and adjustment by the city...call listing agent for any questions. Example: if the new 2014 assessment should be set at the current list price, the real estate tax amount might be: $419,900 (sales price) X .013998 (2024 City and SD tax rate) = $5,877.76 annual tax). Attention Investors! Don’t wait! 2015 renovated legal Triplex in the Mantua/University City area; just blocks from UPenn, Drexel, the...NOTE: Property is hugely over Assessed. The assessment has been appealed and we're awaiting agreement and adjustment by the city...call listing agent for any questions. Example: if the new 2014 assessment should be set at the current list price, the real estate tax amount might be: $419,900 (sales price) X .013998 (2024 City and SD tax rate) = $5,877.76 annual tax). Attention Investors! Don’t wait! 2015 renovated legal Triplex in the Mantua/University City area; just blocks from UPenn, Drexel, the Zoo, Mann Music Center and Art Museum. Easy to get to/ from with I76, Vine Street Expwy with MLK Drive immediately contiguous and public transportation steps away. All units in the building are similar including: unit layout, color scheme, kitchen amenities, appliances, granite countertops, hardwood floors, etc. Each is a 2bd/1bath units and all renovated from the studs out in 2015 including all new electrical, HWH, appliances, one or more of the forced air Heating units replaced, Fire Alarm system (recent inspection), etc; keep your maintenance costs at a minimum! All utilities separate and paid by the tenants except water/sewer. Common area Washer/Dryer in basement. Buyers' agent responsible for confirmation of real estate taxes given recent Phila re-assessment and current Tax Appeal. Pro Forma numbers reflective of property taxes at approximate sale price as listed. Remaining tenant is long term and under rented at $1,000/month, the difference available to significantly impact future cap rate. Units should rent closer to $1350/mo. Cap Rate based on pro forma projected annual rents @ $1350/mo and 2024 real estate tax rates assuming adjustment by appeal based on sales price. Current tenant(s) are M2M tenants. All of the units are similar. Cap Rate Calc Example: Projected rental income: $1350 x 3 x 12 = $48600. Projected Expenses: $5,877 (Est Taxes after Appeal) + 2350 (Est Ins) + 165 (Ann Rent Lic Fee) + 350 (Ann Trash Fee) + 600 (CAM/util) + 1200 (Water & Sewer) = $10,542. Projected Expenses: $5,877 (Est Taxes after Appeal) + 2350 (Est Ins) + 165 (Ann Rent Lic Fee) + 350 (Ann Trash Fee) + 600 (CAM/util) + 1200 (Water & Sewer) = $10,542 $48,600 - $10,542 = Est $38,058 (NOI) / $419,900 (List price) = 9.06% Cap Rate.
  1. Listed by James J Hanning • Bainbridge Realty LLC
    P: 6106628715 hanningesq@comcast.net

Property Details for 623 North 32nd Street

Tax ID Number
242130400
Ownership
Fee Simple
Structure Type
Interior Row/Townhouse
Style
Straight Thru
Waterfront
No
Garage
No
Cross Street
Mt Vernon
Municipality
PHILADELPHIA

Location

Listing Courtesy of Bainbridge Realty LLC
Add your commute
LISTING UPDATED: 04/22/2024 09:17 AM

Property Details for 623 North 32nd Street

StatusActive Under Contract
MLS #PAPH2313686
Days on Market57
Taxes$11,446 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1935
Lot Size0.04 AC / 1,683 SF
CountyPhiladelphia County

Location

Listing Courtesy of Bainbridge Realty LLC
Add your commute

Building Information for 623 North 32nd Street

Stories-Residences3Year Built1935Building Size-Lot Size0.04 AC / 1,683 SF

Payment Calculator

$3,245 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,292

Property Taxes

$954

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 623 North 32nd Street

Location
Location
  • Transportation: Airport less than 10 miles
  • School District Name: PHILADELPHIA CITY
  • School District County ID: 802785881492
  • 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
Association / Community Info
Association / Community Info
  • Association Recreation Fee Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Tax Assessed Value: $817,700
  • Year Assessed: 2023
  • County Tax: $0
  • Improvement Assessed Value: $654,160
  • City Town Tax: $5,165
  • Land Assessed Value: $163,540
  • Clean Green Assessed: No
  • Municipal Trash: Yes
  • Land Use Code: U50
  • Agricultural Tax Due: No
  • Historic: No
  • Zoning: RM1
  • Zoning Dscrp: Properly zoned as triplex.
  • Tax Lot: 43
  • School Tax: $6,280
  • School Tax Payment Frequency: Annually
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Water, Sewer, Taxes - Real Estate
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 3
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 3
  • Units Furnished: None
  • Units Leased Count: 1
  • Number Of Units Vacant: 2
  • Number Of Units Month To Month: 1
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
  • Total Rooms: 4
Unit 2
  • Type: Unit 1
  • Unit Type Occupied YN: No
  • Beds Total: 2
  • Full Baths Count: 1
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: No
  • Unit Type Lease Type: None
  • Beds Total: 2
  • Full Baths Count: 1
Financial Information
Expenses
  • Operating Expense Includes: Insurance, Trash
  • Insurance Expense: $2,350
  • Trash Expense: $350
Financial Information
  • Gross Income: $48,600
  • Gross Scheduled Income: $48,600
  • Net Operating Income: $38,058
  • Annual Rental Income: $36,000
  • Income Includes: Apartment Rentals
  • Cap Rate: 9.00
  • Existing Lease Type: Month to Month
Building Info
Building Info
  • Year Major Reno Remodel: 2015
  • Building Units Total: 3
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 17.00 x 99.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 1028038
  • Ground Rent Exists: No
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Interior Features: Upgraded Countertops, Wood Floors, Floor Plan - Open, Dining Area
  • Fireplace: No
  • Accessibility Features: None
  • Security Features: Fire Detection System
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Window Unit(s)
  • 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: Suburban West REALTORS Association

Property History for 623 North 32nd 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 623 North 32nd Street

Taxable ValueLand$163,540Additions$654,160Total$817,700
Tax Record2023$11,446 ($954 / month)
Home Facts
Total Finished SqFt2,667 SqFtAbove Grade Finished SqFt2,667 SqFtStories3Lot Size1,683 SqFtStyleMulti-Family Res (5+ Units)Year Built1935ZoningRM1CountyPHILADELPHIAAPN24-2-1304-00

Schools near 623 North 32nd 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

School Of The Future
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 Bainbridge Realty LLC

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.