709 South American Street

Philadelphia, PA 19147

$700,000
Last Sold Price
Beds
2,508 Sq. Ft.
$279 / Sq. Ft.
2,508
Sq. Ft.
$279
per Sq. Ft.

Description

709 South American Street possesses the rare and favorable investor preferred mixture of prime location, size and rental income. As a fully leased triplex in the coveted submarket of Queen Village, this boutique property offers extreme rental upside. Or simply buy and hold and continue collecting cash flow from day one. Each bilevel unit is leased with under market rents. Unit 1 is a 2bd x 1ba leased for 1575 per month located on 1st floor and basement. Unit 2 is a 2bd x 1ba leased for 1575 per month...709 South American Street possesses the rare and favorable investor preferred mixture of prime location, size and rental income. As a fully leased triplex in the coveted submarket of Queen Village, this boutique property offers extreme rental upside. Or simply buy and hold and continue collecting cash flow from day one. Each bilevel unit is leased with under market rents. Unit 1 is a 2bd x 1ba leased for 1575 per month located on 1st floor and basement. Unit 2 is a 2bd x 1ba leased for 1575 per month located on 2nd and 3rd floors. Unit 3 is a 1bd x 1ba leased for 1075 per month located on 2nd and 3rd floors. Total annual income is 50,700. Pro forma income is 67,200. The 2bd units should lease for 2000 per month and the 1bd should lease for 1600 per month. Expenses are low. Many original features exist such as hardwood floors and exposed brick. Stately 3 storey appearance boasting curb appeal on a tranquil sunny side street located in the prized Meredith School District, (one of, if not) the most sought after elementary schools in Philadelphia, Pennsylvania. Walk to amenities, shops, restaurants, cafes and bars on SouthStreet, Fabric Row, and in Society Hill. Notable establishments leading Philly s food scene are within just a few short blocks: Serpico, Famous 4th St Deli, Jims Steaks, Lorenzos Pizza, RoyalSushi and Izakaya, Pizzeria Stella, Southwark, Pietros, Hungry Pidgeon, Bistro La Minette and Little Fish BYOB. Also walkable to Bainbridge Green Park, Washington Square Park and SpruceStreet Harbor Park. All units separately metered. Washer dryer combos in each unit. Basement storage for Unit 1.

Listing Agent

  1. Ryan McManus

    Ryan McManus

    Listing Agent

    Compass

Property Details for 709 South American Street

Tax ID Number
023108200
Ownership
Fee Simple
HOA
No
Structure Type
Interior Row/Townhouse
Style
Contemporary
Waterfront
No
Garage
No
Subdivision
QUEEN VILLAGE

Location

Sold By Volzer Virtual Realty, LLC

Add your commute
LISTING UPDATED: 08/17/2022 09:00 PM

Property Details for 709 South American Street

StatusClosed
MLS #PAPH852446
Days on Market28
Taxes$9,563 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeTownhouse
MLS TypeMulti-Family / Fee Simple
Year Built1915
Lot Size0.02 AC / 1,088 SF
CountyPhiladelphia County

Location

Sold By Volzer Virtual Realty, LLC

Add your commute

Building Information for 709 South American Street

Stories-Residences3Year Built1915Building Size-Lot Size0.02 AC / 1,088 SF

Payment Calculator

$4,617 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,820

Property Taxes

$797

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 709 South American Street

Location
Location
  • Transportation: Bus Stop less than 1 mile, Metro/Subway Station less than 1 mile, Airport less than 10 miles, Commuter Rail Station 1 to 5 miles
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19147 (19147)
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: 2020
  • Tax Assessed Value: $683,200
  • Year Assessed: 2020
  • Improvement Assessed Value: $478,262
  • City Town Tax: $4,316
  • Land Assessed Value: $204,938
  • Clean Green Assessed: No
  • Land Use Code: U50
  • Zoning: RM1
  • Tax Lot: 207
  • School Tax: $5,248
  • 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: 2
  • Three Bedroom Units Count: 0
Financial Information
Financial Information
  • Net Operating Income: $35,700
  • Annual Rental Income: $50,700
  • Cap Rate: 5.10
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 2,508.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Lot Size Dimensions: 17.00 x 64.00
  • Parcel ID: 889173
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplaces Count: 0
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Natural Gas
  • Heating Type: Central
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Septic, Public Sewer

Property History for 709 South American 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 709 South American Street

Taxable ValueLand$170,700Additions$398,500Total$569,200
Tax Record2023$7,968 ($664 / month)
Home Facts
Total Finished SqFt2,508 SqFtAbove Grade Finished SqFt2,508 SqFtStories3Lot Size1,088 SqFtStyleMulti-Family Res (5+ Units)Year Built1915ZoningRM1CountyPHILADELPHIAAPN02-3-1082-00

Schools near 709 South American Street

This home is within Philadelphia City School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 5 to 8
Public - 9 to 12
Rating
School
Distance
Meredith William M School
PublicK to 8

Furness Horace High School
Public9 to 12

Middle Years Alternative School
Public5 to 8

Arts Academy at Benjamin Rush
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.

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.