$1,300,000
$1,390,000
6.5%For more information regarding the value of a property, please contact us for a free consultation.
321 N 40TH ST Philadelphia, PA 19104
2 Beds
1 Bath
6,300 SqFt
Key Details
Sold Price $1,300,000
Property Type Single Family Home
Sub Type Unit/Flat/Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 6,300 sqft
Price per Sqft $206
Subdivision Powelton Village
MLS Listing ID PAPH867538
Sold Date 09/24/20
Style Unit/Flat
Bedrooms 2
Full Baths 1
HOA Y/N N
Abv Grd Liv Area 6,300
Originating Board BRIGHT
Year Built 2016
Annual Tax Amount $1,162
Tax Year 2020
Lot Size 2,085 Sqft
Acres 0.05
Lot Dimensions 20.85 x 100.00
Property Description
All leases secured for school year 2020-2021. 100% rent it out. Zero vacancy. Five-year old apartment building with LEGAL Five-Units. Monthly rent income is $10,500 with 15% to 20% rent increase potential. Current rent is below market rent. Fully rented with mostly long-term tenants to July/August of 2020. Property locates at North 40th Street and Powelton Street area. Easy access to campus bus and subway. Walking distance to University of Pennsylvania and Drexel University.It has 6 years of tax abatement left and has 4 stories with a huge unfinished basement as storage. Each apartment is fully furnished with central air/heating, washer/dryer in unit, hard wood floor. granite countertops, all wood cabinets, stainless steel appliances, dish washer, huge bright windows, and big bedrooms. Tenants pay all utilities.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM-1
Rooms
Basement Unfinished
Main Level Bedrooms 2
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility Other
Garage N
Building
Story 3
Unit Features Garden 1 - 4 Floors
Sewer Public Sewer
Water Public
Architectural Style Unit/Flat
Level or Stories 3
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Senior Community No
Tax ID 881161690
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Susan J Henley • Compass RE