Excellent mixed use investment opportunity! This 3505 sq. ft. property consists of a first floor retail space and apartments on the 2nd & 3rd floor. The retail space was previously a corner bar and could easily be used for the same purpose. A liquor license is not included. Other potential uses by right include a restaurant, professional offices, medical, religious assembly & grocery store. Check Phila zoning CMX-2 for additional uses by right or by special exception. The first floor is 1169 sq ft with his & her bathrooms and is finished nicely. See photos. The 2nd & 3rd floor apartments have a separate entrance & consists of 4 bedrooms and two full baths on each floor which can be developed into large apartments on each floor (1169 sq ft) or a boarding home type arrangement. The building exterior is in excellent condition with a 2-3 year old roof, updated fire alarm system, security system with cameras, automated roll down security gates for first floor doors and windows, basement walk in cooler, bilco doors for deliveries & basement freezer. All electric heat with one meter for the first floor and one for the 2nd & 3rd floors. Gas utility availiable. Pro-forma cap rate could exceed 20%. $360 per month per bedroom (8 bedrooms) and $1500 per month for retail space. Current income $2,040 per month. Property is priced to sell!
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