$127,500
$130,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
1516 S PATTON ST Philadelphia, PA 19146
992 SqFt
Key Details
Sold Price $127,500
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 992 sqft
Price per Sqft $128
Subdivision Grays Ferry
MLS Listing ID PAPH2376604
Sold Date 09/09/24
Style Straight Thru
Abv Grd Liv Area 992
Originating Board BRIGHT
Year Built 1923
Annual Tax Amount $1,462
Tax Year 2022
Lot Size 767 Sqft
Acres 0.02
Lot Dimensions 15.00 x 51.00
Property Description
Presenting an exceptional investment opportunity to acquire an affordably priced property located in the rapidly growing Grays Ferry neighborhood. This property, currently zoned RSA-5, and is configured as a duplex, featuring two individual units, with unit 1 a one-bedroom, one-bathroom apartment and Unit 2 a two-bedroom, one-bathroom apartment. Unit 1 has previously generated a rental income of $750 per month, and with updates and enhancements could get as much as $900/month, Unit 2 is rented for $850/month with tenant paying utilities and has the potential to command a rental rate of up to $1100 per month with some upgrades. It is important to note that the property is in need of some renovation and is being offered for sale in its current "as-is" condition. Investors and developers alike will recognize the significant potential this property holds, both for rental income and long-term appreciation, given the ongoing revitalization of the Grays Ferry area. Seize this opportunity to invest in a promising neighborhood poised for continued growth and transformation. All square footage numbers are approximate and should be verified by the buyer. It is the responsibility of the buyer to verify real estate taxes.
Location
State PA
County Philadelphia
Area 19146 (19146)
Zoning RSA5
Rooms
Basement Fully Finished
Interior
Hot Water Electric
Heating Radiant
Cooling Window Unit(s)
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Straight Thru
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 364455200
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Daniel Baer • Compass RE