Philadelphia, PA 19137,4742 RICHMOND ST
Philadelphia, PA 19137,4742 RICHMOND ST
Philadelphia, PA 19137,4742 RICHMOND ST
Philadelphia, PA 19137,4742 RICHMOND ST
Philadelphia, PA 19137,4742 RICHMOND ST
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$435,000

$599,000

27.4%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

4,368 SqFt


SOLD DATE : 09/27/2024

Key Details

Sold Price $435,000

Property Type Multi-Family

Sub Type Interior Row/Townhouse

Listing Status Sold

Purchase Type For Sale

Square Footage 4,368 sqft

Price per Sqft $99

MLS Listing ID PAPH2388270

Sold Date 09/27/24

Style Other

Abv Grd Liv Area 4,368

Originating Board BRIGHT

Year Built 1910

Annual Tax Amount $3,807

Tax Year 2024

Lot Size 2,000 Sqft

Acres 0.05

Lot Dimensions 20.00 x 100.00

Property Description

Turnkey Mixed Use Investment Opportunity - Over 11% CAP Rate! The sale includes parcels: 453312700, 453128900, and 871571840. This fully occupied property presents an incredible investment opportunity with a capitalization rate (CAP rate) exceeding 11%. Located in the Bridesburg neighborhood this sale includes the parking lot at 2795-97 Kirkbride Street, this property is a rare find, combining commercial and residential income streams. Property Features: Bar/Restaurant: Monthly Rent: $4000 Lease: 5-year term with a reliable tenant ensuring steady income. Residential Units: 1 Bedroom Apartment: $700/month 5 Bedroom Apartment: $2000/month Both units are updated with hardwood floors and newer appliances, providing a modern and comfortable living experience for tenants. Additional Income: Parking Lot: $650/month rental agreement Adds value and convenience for tenants and potential additional revenue. The CAP rate for this property with a purchase price of $599,000, considering 10% for general expenses and 5% for vacancy expenses, is approximately 11.52%. Key Highlights: Turnkey investment with minimal immediate maintenance required Fully occupied with reliable tenants Updated rental units with hardwood floors and newer appliances Additional revenue from a private parking lot and city rental agreement This property is perfect for investors seeking a high return with stable, diversified income. Don’t miss out on this exceptional opportunity! For more information or to schedule a viewing, please contact us today.

Location

State PA

County Philadelphia

Area 19137 (19137)

Zoning RSA5

Interior

Hot Water Natural Gas

Heating Radiant

Cooling Wall Unit

Fireplace N

Heat Source Natural Gas

Exterior

Waterfront N

Water Access N

Accessibility None

Parking Type Parking Lot

Garage N

Building

Foundation Other

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 453312700

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition REO (Real Estate Owned)

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Bright MLS (BMLS)
Listed by Liz A Lutz • KW Empower
Bought with Derek Fulforth • KW Empower
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