Skip To Content
    Return to Previous Page

    1551 N Franklin Street

    PHILADELPHIA, PA 19122
    • $795,000
    • STATUS: Active
    • ON SITE: 129 days
    • ID#: PAPH946762
    UPDATED: 64 min ago
    $795,000
    • 0
      BEDS
    • 0.02
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,130
      SQFT
    • $192
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2020
    County:

    School Ratings & Info

    Description

    Huge Price Drop! Motivated Seller. Submit all Offers. New construction mixed-use triplex with approved 10 year tax abatement! At approx. 4200 sq. ft., 4 story corner lot, and located in the booming Ludlow/Olde Kensington area, this property is a great investment opportunity, priced to sell. The two residential apartments are rented at $2100/mo for Unit 3, $1300/mo for Unit 2. Projected rent for commercial space (unit 1) is at least $1700/mo. That is a cap rat of over 7.0%! (Rental Pro Forma Attached). This property is perfect for a business owner operating their business in the extra large bi-level commercial space downstairs, and collect additional income from the two apartments or an investor simply wanting to add to their portfolio a large triplex with great potential for profit! Unit 1 is a large bi-level commercial space with separate side entrance, a backyard, a large ADA restroom and a second downstairs restroom for convenience. Unit 2 is a 1 bed/1 bath apartment with open floor plan, modern energy-efficient appliances, in-unit laundry, and beautiful finishes. Unit 3 is a bi-level 3 bed/2.5 bath apartment which has a spectacular rooftop deck with 360-degree views of the city, master suite, in-unit laundry, and a bonus area that can be used as a dining are, home office space, or just as an open space for entertaining. Some spectacular features include quartz counter-top kitchens, modern appliances, laminate flooring, luxurious vanity and elegantly tiles baths, walk-in closet, fiberglass roof deck, brick facade, high ceilings, security cameras, video doorbell intercom, etc. This is a rare investment opportunity at a great value!

    Monthly Payment Calculator



    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty, LLC. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-02-26T23:52:12.26.
    www.searchmontgomerybuckshomes.com/homes/111173998
    Print Image

    1551 N Franklin Street PHILADELPHIA, PA 19122

    • Price: $795,000
    • Status: Active
    • Updated: 64 min ago
    • ID#: PAPH946762
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.02
    Acres
    4,130
    SQFT
    $192
    $/SQFT
    2020
    Built
    Neighborhood:
    Ludlow
    County:
    Philadelphia
    Area:
    19122 (19122)
    School District:
    The School District Of Philadelphia
    Property Description
    Huge Price Drop! Motivated Seller. Submit all Offers. New construction mixed-use triplex with approved 10 year tax abatement! At approx. 4200 sq. ft., 4 story corner lot, and located in the booming Ludlow/Olde Kensington area, this property is a great investment opportunity, priced to sell. The two residential apartments are rented at $2100/mo for Unit 3, $1300/mo for Unit 2. Projected rent for commercial space (unit 1) is at least $1700/mo. That is a cap rat of over 7.0%! (Rental Pro Forma Attached). This property is perfect for a business owner operating their business in the extra large bi-level commercial space downstairs, and collect additional income from the two apartments or an investor simply wanting to add to their portfolio a large triplex with great potential for profit! Unit 1 is a large bi-level commercial space with separate side entrance, a backyard, a large ADA restroom and a second downstairs restroom for convenience. Unit 2 is a 1 bed/1 bath apartment with open floor plan, modern energy-efficient appliances, in-unit laundry, and beautiful finishes. Unit 3 is a bi-level 3 bed/2.5 bath apartment which has a spectacular rooftop deck with 360-degree views of the city, master suite, in-unit laundry, and a bonus area that can be used as a dining are, home office space, or just as an open space for entertaining. Some spectacular features include quartz counter-top kitchens, modern appliances, laminate flooring, luxurious vanity and elegantly tiles baths, walk-in closet, fiberglass roof deck, brick facade, high ceilings, security cameras, video doorbell intercom, etc. This is a rare investment opportunity at a great value!
    Exterior Features

    Architectural Style ContemporarySide-By-Side Construction Materials BrickBrick FrontBrick VeneerVinyl SidingFrame Garage YN No Other Structures Above GradeBelow Grade Parking Types On Street Pool No Pool Property Condition Excellent Riparian Rights YN No Roof Flat Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 4130 Basement Interior AccessFullFully Finished Basement YN Yes Cooling Central A/C Fireplaces Total 0 Flooring Laminated Heating Forced Air Heating YN Yes Single Room Units 0 Three Bedroom Units 1 Two Bedroom Units 0 Walls Ceilings Dry WallHigh

    Property Features

    Acceptable Financing Conventional Accessibility Features Level Entry - MainOther Bath ModRamp - Main Level Assessment Year 2020 Association YN No Central Air YN Yes Cooling Fuel Natural Gas Cross Street N Franklin St & Oxford St Electric 200+ Amp Service Foundation Details Concrete Perimeter Heating Fuel Natural Gas Hot Water Electric Incorporated City Name Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 3 Number Of Units Vacant 3 Original MLSNumber 304364274717 Ownership Interest Fee Simple Possession 0-30 Days Cd Property Sub Type Triplex Sale Type Standard Sewer Public Sewer Structure Design Type End Of Row/Townhouse Tax Annual Amount 90.00 Tax Assessment Amount 6400.00 Tax Lot 259 Vacation Rental YN No Water Source Public Zoning Cmx2

    Listing courtesy of Keller Williams Philly.


    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty, LLC. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-02-26T23:52:12.26.
     
    https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_304364274717-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_304364274717-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_304364274717-2.jpg
    Logo
    eXp Realty, LLC
    1848 N Hancock Street Fl #C
    Philadelphia PA, 19122