Description
Centrally located in Northeast Philadelphia, this 1,904sqft property offers a multitude of possibilities for business owners seeking a storefront and a residence, close to the shopping center and groceries. Divided as a duplex, but zoning is RSA5 (single-family). The renovated 2nd level residence impresses with an openly flowing layout, soft natural light, beautiful faux wood flooring, modern paint hues, spacious living room, chic full bathroom, large bedrooms, and an open concept kitchen featuring stainless-steel appliances. Fashioned as a storefront, the lower-level may be utilized as a shop or even a fashionable salon. Boasting a potential annual net income of $40,000 with a cap rate of 8%, this affords a rare and potentially profitable opportunity for a seasoned investor. Please note, the back cottage (separate entrance) is occupied by a squatter, and seller is in the eviction process, expected to be done by the end of June. The property was divided into a duplex; however zoning is RSA5, single family. The previous owner did variance in 1975 and operated Child Care before. Seize the moment, and call now to schedule a private showing!
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0BEDS
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0.04ACRES
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0BATHS
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01/2 BATHS
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1,904SQFT
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$131$/SQFT
Description
Centrally located in Northeast Philadelphia, this 1,904sqft property offers a multitude of possibilities for business owners seeking a storefront and a residence, close to the shopping center and groceries. Divided as a duplex, but zoning is RSA5 (single-family). The renovated 2nd level residence impresses with an openly flowing layout, soft natural light, beautiful faux wood flooring, modern paint hues, spacious living room, chic full bathroom, large bedrooms, and an open concept kitchen featuring stainless-steel appliances. Fashioned as a storefront, the lower-level may be utilized as a shop or even a fashionable salon. Boasting a potential annual net income of $40,000 with a cap rate of 8%, this affords a rare and potentially profitable opportunity for a seasoned investor. Please note, the back cottage (separate entrance) is occupied by a squatter, and seller is in the eviction process, expected to be done by the end of June. The property was divided into a duplex; however zoning is RSA5, single family. The previous owner did variance in 1975 and operated Child Care before. Seize the moment, and call now to schedule a private showing!
©2023 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 Iron Valley Real Estate. 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: 2023-05-31T10:55:11.88.