707 North 40th Street
707 North 40th Street
$1,015,000
1
1
5,850
5,850
$174
Closed 6/15/22
Description
OPPORTUNITY knocks! Own a fully occupied 7-unit building in one of Philadelphia's Opportunity Zones. This 2-year young building sits on a 17x105 lot, has 7-8 years left on the tax abatement and brings in around $86,100 in gross annual rent. Unit #1 features a 2 bed, 1 bath unit for $1000/month. Unit #2 features a 1 bed, 1 bath unit for $850/month. Unit #3 features a 2 bed, 1 bath unit for $1100/month. Unit #4 features a 1 bed, 1 bath unit for $900/month. Unit #5 features a 2 bed, 1 bath unit for...OPPORTUNITY knocks! Own a fully occupied 7-unit building in one of Philadelphia's Opportunity Zones. This 2-year young building sits on a 17x105 lot, has 7-8 years left on the tax abatement and brings in around $86,100 in gross annual rent. Unit #1 features a 2 bed, 1 bath unit for $1000/month. Unit #2 features a 1 bed, 1 bath unit for $850/month. Unit #3 features a 2 bed, 1 bath unit for $1100/month. Unit #4 features a 1 bed, 1 bath unit for $900/month. Unit #5 features a 2 bed, 1 bath unit for $1150/month. Unit #6 features a 1 bed, 1 bath unit for $1050/month. Unit #7 features a 2 bed, 1 bath unit for $1125/month. The owners collect additional income from the common area washers and dryers. All of the units have open kitchens with white cabinets, granite countertops and stainless steel appliances, large bathrooms, high ceilings, intercoms, lots of natural sunlight and a gated private entry. There are multiple outdoor spaces including two roof decks with city skyline views and a patio. Extremely low taxes for the next 7 to 8 years! Cap rate of 6.75%. 707 N 40th St is walking distance to UPenn, Drexel U, Penn Presbyterian Medical Center, Philadelphia Zoo, the Vidas Athletic Complex and much more. Minutes to Center City, Art Museum, 30th St Station, Kelly Drive and 76. There are new construction properties everywhere in this neighborhood.
Listing Agent
Property Details for 707 North 40th Street
Tax ID Number
243113000
OwnershipFee Simple
HOANo
Structure TypeInterior Row/Townhouse
StyleOther
WaterfrontNo
GarageNo
Cross StreetFairmount Ave
Location
LISTING UPDATED: 06/15/2022 09:43 AM
Property Details for 707 North 40th Street
Status | Closed |
---|---|
MLS # | PAPH2018586 |
Days on Market | 152 |
Taxes | $252 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | 2019 |
Lot Size | 0.04 AC / 1,785 SF |
County | Philadelphia County |
Location
Building Information for 707 North 40th Street
Stories-Residences4Year Built2019Building Size-Lot Size0.04 AC / 1,785 SF
Payment Calculator
$5,560 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 707 North 40th Street
Property History for 707 North 40th Street
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 707 North 40th Street
Taxable ValueLand$37,700Additions-Total$37,700
Tax Record2023$528 ($44 / month)
Home Facts
Beds2Total Finished SqFt2,400 SqFtAbove Grade Finished SqFt2,400 SqFtStories3Lot Size1,785 SqFtStyleResidentialYear Built1960ZoningRSA5CountyPHILADELPHIAAPN24-3-1130-00
Schools near 707 North 40th Street
This home is within Philadelphia City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | 5 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Middle Years Alternative School Public5 to 8 | ||
West Philadelphia High School Public9 to 12 | ||
Arts Academy at Benjamin Rush Public9 to 12 | ||
Swenson Arts & Technology High School 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
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.