Enormous new construction triplex plus separate office space with street frontage. Rent to PENN, DREXEL, CHOP, PENN MEDICAL STUDENTS AND PROFESSIONALS! 4 units total! 1st floor apartment has large private yard with 2BR/2BATH. 2nd floor apartment has 3BR/3BATH. 3rd floor apartment has 3BR/3BATH with access to oversized roofdeck. Being sold at estimated 6.5% pro forma cap rate. Construction is almost complete. 10 year tax abatement! Disclosure: For security reasons, while vacant, property has alarm and remote video surveillance.
Sold for $951,000
Street View
$951,000
616 N 40th St, Philadelphia, PA 19104
9beds
--baths
4,968sqft
Townhouse
Built in ----
-- sqft lot
$971,200 Zestimate®
$191/sqft
$1,613 Estimated rent
Home value
$971,200
$903,000 - $1.04M
$1,613/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Ilya Rabovetsky 215-331-5252,
REDBLOCK Realty Inc.
Bought with:
Alyce Gerhardt
Compass RE
Source: Bright MLS,MLS#: PAPH2226364
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
Basement
- Area: 1242
Heating
- Central
Cooling
- Central Air, Electric
Appliances
- Included: Electric Water Heater
Features
- Has fireplace: No
Interior area
- Total structure area: 4,968
- Total interior livable area: 4,968 sqft
Property
Parking
- Parking features: On Street
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Pool features: None
Lot
- Size: 1,735 sqft
- Dimensions: 28.00 x 62.00
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 885051860
- Zoning: RM1
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Townhouse
Materials
- Other
- Foundation: Other
Condition
- Excellent
- New construction: Yes
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Philadelphia
- Municipality: PHILADELPHIA
Other
Other facts
- Listing agreement: Exclusive Agency
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 3/13/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/22/2024 | Listed for rent | $2,000 |
Source: Zillow Rentals Report a problem | ||
| 1/25/2024 | Sold | $951,000$191/sqft |
Source: Public Record Report a problem | ||
| 8/9/2023 | Sold | $951,000-13.5%$191/sqft |
Source:  Bright MLS #PAPH2226364 Report a problem | ||
| 7/10/2023 | Pending sale | $1,100,000$221/sqft |
Source: Bright MLS #PAPH2226364 Report a problem | ||
| 5/22/2023 | Price change | $1,100,000-8.3%$221/sqft |
Source: Bright MLS #PAPH2226364 Report a problem | ||
| 4/19/2023 | Listed for sale | $1,200,000+1400%$242/sqft |
Source: Bright MLS #PAPH2226364 Report a problem | ||
| 12/9/2016 | Sold | $80,000$16/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $10,053 +536.7% | $718,200 +536.7% |
| 2024 | $1,579 | $112,800 |
| 2023 | $1,579 +478.5% | $112,800 |
| 2022 | $273 | -- |
| 2021 | $273 | -- |
| 2018 | $273 -84.1% | -- |
| 2017 | $1,720 | -- |
| 2016 | $1,720 +598% | -- |
| 2015 | $246 | -- |
| 2014 | $246 +4.5% | $17,600 +1386.5% |
| 2012 | $236 | $1,184 |
| 2011 | -- | $1,184 |
| 2010 | -- | $1,184 |
| 2009 | -- | $1,184 |
| 2008 | -- | $1,184 |
| 2007 | -- | $1,184 +8.8% |
| 2006 | -- | $1,088 +240% |
| 2005 | -- | $320 |
| 2004 | -- | $320 |
| 2003 | -- | $320 |
| 2002 | -- | $320 |
| 2000 | -- | $320 |
| 1999 | -- | $320 |
Find assessor info on the county website
Neighborhood: Belmont
Nearby schools
GreatSchools rating
- 4/10Mcmichael Morton SchoolGrades: PK-8Distance: 0.5 mi
- 3/10West Philadelphia High SchoolGrades: 9-12Distance: 0.9 mi
Schools provided by the listing agent
- Elementary: Charles R. Drew
- Middle: Alain Locke Elemementary
- High: Overbrook
- District: The School District Of Philadelphia
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$971,200
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$971,200
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