Address
2434 S Broad Street Philadelphia, PA
Price
$ 529,000
Property Attributes
  • MLS#PAPH2042376
  • TypeContingent
  • CountyPHILADELPHIA
  • CityPhiladelphia
  • Area19145
  • Zip19145
  • StyleMedical,/General Retail,Professional,Restaurant/Ba
  • Year Built1920
  • Taxes$ 3611
  • Price$ 529,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage2753
  • Lot Size1,307 SqFt
Listing Provided Courtesy Of:
Reliable Realty LLC
Data Source:
Bright MLS - 382 - MD
Property Description

Investment opportunity at 2434 South Broad Street. This property is a blank canvas and can be used for both commercial and residential purposes. The CMX2 zoning allows for a wide variety of businesses that can be placed in the 1st FL space. The 1st FL has appx: 1000 SQFT with a storefront, kitchen, bathroom, and laundry/storage space. This space can be renovated to fit a wide variety of businesses such as a Doctor’s Office, Restaurant, Retail Store, etc. The 1st FL space can be rented for appx $2000/month after improvements. The 2nd and 3rd floors can be used for a rental apartment after improvements. The 2nd FL has appx 900 SQFT with a living room, kitchen, full bathroom and access to the rear patio. The 3rd FL has appx 900 SQFT with 3 bedrooms and after updating, the combined 2nd& 3rd floors can be rented for appx $1850/month. The property is located across the street from Methodist Hospital and has easy access to public transportation and major highways. Shopping is readily available with two supermarkets within a 10 min walk. There are also a wide variety of local restaurants within walking distance of the property. This property is perfect for anyone looking to build out their business to their own specifications or just have a passive rental income property. With some improvements and updates to this property, the anticipated NOI estimate is $46,200.00 which produces a CAP Rate of 7.70%* after taking into considerations the cost of improvements. Buyer responsible for U&O certificates and zoning verification. Property will be sold in a AS-IS condition. Note: Property is currently vacant and requires renovations. All estimates and financial figures are based on potential income after renovations, improvements and or updating. *Reference Offering Memorandum for Cap Rate estimate figures.

Price History
11/3/2021 Listed $529,000

General Features

Acceptable Financing Cash, Conventional
Accessibility 2+ Access Exits
Business Type Medical, Other/General Retail, Professional, Restaurant/Bar, Other
Construction Materials Masonry
Cool Fuel Electric
Cooling Central A/C, Window Unit(s)
County PHILADELPHIA
Days on Market 9
Electric 120/240V
Flooring Wood, Carpet
Heating Forced Air, Hot Water
Historic Y/N No
Location Type Urban
Lot Size Square Feet 1280.00
MLS Area 19145 (19145)
Municipality PHILADELPHIA
New Construction No
Ownership Fee Simple
Possession 0-30 Days CD
Price Per Sq Ft 192.15
Property SubType Mixed Use
Property Type Commercial Sale
Property Use Investment
PropertyCondition Good
Roof Unknown
Sewer Public Sewer
Tax Annual Amount 3611.0
Tax Lot 284
Tax Year 2021
Vacation Rental Y/N No
Water Access Y/N No
Zoning CMX2

Interior Features

Central Air Y/N Yes
Clear Span Ceiling Height 8' to 10'
Entry Level 1
Heating Fuel Natural Gas
Heating Y/N Yes
Hot Water Natural Gas
Total Restrooms 2

Exterior Features

Building Area Total 2753.00
Fencing Y/n No
Foundation Details Concrete Perimeter, Brick/Mortar
Lot Dimensions 16.00 x 80.00
Lot Size Acres 0.03
Lot Size Source Assessor
Navigable Water Y/N No
Road Responsibility City/County
Road Surface Type Black Top
Soil Types Unknown
Type of Parking On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 19145

Price
AVG $290K
$530K
Taxes
AVG $2,104
$3,611
Visits
AVG 10
3
Year Built
AVG 1928
1920