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Listing 9 out of 12
$300,000 For Sale

1059 Van Kirk Street
Philadelphia, PA 19149

Multi Family Home
1742 sq ft lot - MLS# 1006695702
Property Photo
1/3

Description

Small Business Entrepreneur Investor Opportunity: Established Mixed-Use Commercial Property For Sale on a prominent corner with strong traffic counts and good curb parking in front. Located in the Oxford Circle Area of Philadelphia, this property has operated as a Residential Duplex plus a Pizzeria Luncheonette for over 30 years. Good for either owner-occupant or investor. No L&I Violations. New Fire Alarm system. The property contains one one-bedroom (Section-8) and one studio apartment - 1, 120 TSF with hardwood floors, good kitchen, bath, electric heat; plus an 880 SF commercial space actively used as a pizzeria. Separate meters. 2018 Financials: Gross Annual Income: $33, 960 net after 5% Residential Vacancy, 21% Expenses, NOI $26, 803, c/c ROI is 16.41% after the mortgage on a 25% cash investment. DSCR is 1.85. This leveraged model generates an attractive 8.93% CAP at the asking price. Essentially, the residential income covers the expenses and a 75% LTV mortgage, so the commercial component is poised to perform as the money-maker. The ten-year commercial tenant is now on an M/M lease, so you are free to launch your preferred business. The sale is 'As-Is' for real estate only, no commercial fixtures. Eligible for FHA ownership. Manifest your dream! Call for additional details, property brochure or appointment.

Features

  • Property Type: Multi Family Home
  • Sub Type: Triplex
  • Listing Status: Active
  • County/Area: Philadelphia County
  • Zip Code: 19149
  • Year Built: 1925
  • Subdivision/Neighborhood: Oxford Circle
  • School District: The School District Of Philadelphia
  • Sq.Ft.: 2,000 sq ft
  • Lot Size: 1742 sq ft lot
  • Zoning: RM1
  • Above Grade Fin SQFT: 2,000
  • Above Grade Fin SQFT Source: Estimated
  • Above Grade Finished Area Units: Square Feet
  • Annual Gross Expense: 7157.00
  • Building Area Units: Square Feet
  • Building Level Count: 3
  • Building Total SQFT: 2,000
  • Building Total SQFT Source: Estimated
  • Building Units Total: 3
  • Cap Rate: 8.93
  • Construction Materials: Brick
  • Cooling Type: Wall Unit
  • Directions: Prominent Corner - Busy Thoroughfare
  • Exclusions: No Commercial Fixtures
  • Flooring Type: Wood
  • Gross Income: $33960.00
  • Gross Scheduled Income: 34800.00
  • Heating: Electric
  • Heating Type: Baseboard - Electric
  • Heating Y/N: Yes
  • Hot Water: Electric
  • Improvements: Above Grade
  • Income Includes: Apartment Rentals, Shop Rentals
  • Interior Features: Store/Office
  • Land Use Code: T30
  • Lot Dimensions: 25X70
  • Lot SQFT: 1,742
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • Net Operating Income: 26862.00
  • One Bedroom Units Count: 1
  • Operating Expense: 7157.00
  • Original Listing ID: 7256118
  • Other Units: Unit 1, Unit 2, Unit 3
  • Ownership Interest: Fee Simple
  • Photo Option: Lister Will Upload All
  • Property Condition: Average+Prop
  • Roof: Flat
  • Room List: Master Bedroom
  • Sewer Septic: Public Sewer
  • Single Room Units Count: 1
  • Tax Annual Amount: 2207.0
  • Tax Year: 2018
  • Total Finished SQFT: 2,000
  • Total Finished SQFT Source: Estimated
  • Total SQFT Source: Estimated
  • Two Bedroom Units Count: 1
  • Type Of Parking: On Street
  • Water Source: Public
  • Year Built Source: Estimated
Courtesy of Keller Williams Philadelphia


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Better Homes Realty Group

Better Homes Realty Group
Huntingdon Valley, PA 19006
215-938-7800
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Better Homes Realty Group | 215-938-7800 | Contact Us
380 Red Lion Rd. #212 - Huntingdon Valley, PA 19006
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