Bought with donovan lee edwards • Keller Williams Philadelphia
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2601 CECIL B MOORE AVE Philadelphia, PA 19121
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Key Details
Sold Price $545,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 3,780 sqft
Price per Sqft $144
Subdivision Brewerytown
MLS Listing ID PAPH2008126
Sold Date 01/24/22
HOA Y/N N
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $2,380
Tax Year 2021
Lot Size 1,386 Sqft
Acres 0.03
Lot Dimensions 18.00 x 77.00
Property Sub-Type Mixed Use
Property Description
Big Price Reduction !!! Highly motivated sellers ready to get a deal done. Opportunity Zone!!This is a 3,780 square foot mixed use property. Currently zoned for a 4 Unit with commercial space on 1st floor. Part of the zoning does allow the sale of pre packaged foods as well. Currently the commercial space is used by the owner as a Barbershop but will be delivered vacant for the buyer. There are 4 units upstairs, 3 units are occupied with rent paying tenant and 1 unit is vacant. Rent roll is as follows
Commercial- $2000 (based on market rent in the area)
Unit 1- 1 Bed 1 Bath $725
Unit 2- 1 Bed 1 Bath $725
Unit 3- 2 Bed 1 Bath $825
Unit 4- 1 Bed 1 Bath $625
Total- $4900 a month- $58,800 a year Cap Rate of 9.7%
Rent is currently under fair market, so there is potential to raise 1 bed to $780 and 2 bed to $950. The owner has made sure to make all repairs over the years and it has been taken care of very well. Roof was recently sealed and hallways painted as well. 1st floor barbershop was recently renovated with new flooring & paint. This are is very hot and this property is ready to sell. All tenants are on month to month leases.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning CMX1
Interior
Hot Water Electric
Heating Wall Unit
Cooling Window Unit(s)
Flooring Laminated
Heat Source Electric
Exterior
Water Access N
Roof Type Flat
Accessibility 36\"+ wide Halls, 32\"+ wide Doors, 2+ Access Exits
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Septic
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871146600
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Private
Listing Terms Cash, Conventional, Private
Financing Cash,Conventional,Private
Special Listing Condition Standard
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