1059 Van Kirk Street

    PHILADELPHIA, PA 19149
    • $275,000
    • STATUS: Active
    • ON SITE: 140 days
    • ID#: 1006695702
    UPDATED: 47 min ago
    $275,000
    • 0
      BEDS
    • 0.04
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:

    School Ratings & Info

    Description

    Small Business Entrepreneur Investor Opportunity: Established Mixed-Use Commercial Property For Sale on a prominent corner with strong traffic counts and good curb parking in front. Located in the Oxford Circle Area of Philadelphia, this property has operated as a Residential Duplex plus a Pizzeria Luncheonette for over 30 years. Good for either owner-occupant or investor. No L&I Violations. New Fire Alarm system. The property contains one one-bedroom (Section-8) and one studio apartment - 1,120 TSF with hardwood floors, good kitchen, bath, electric heat; plus an 880 SF commercial space actively used as a pizzeria. Separate meters. 2018 Financials: Gross Annual Income: $33,960 net after 5% Residential Vacancy, 21% Expenses, NOI $26,862, c/c ROI is 19.66% after the mortgage on a 25% cash investment. DSCR is 2.02. This leveraged model generates an attractive 9.75% CAP at the asking price. Essentially, the residential income covers the expenses and a 75% LTV mortgage, so the commercial component is poised to perform as the money-maker. The ten-year commercial tenant is now on an M/M lease, so you are free to launch your preferred business. The sale is 'As-Is' for real estate only, no commercial fixtures. Eligible for FHA ownership. Manifest your dream! Call for additional details, property brochure or appointment.

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    ©2019 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. 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: 2019-02-19T09:54:03.31.
    www.yourchestercountyhomesearch.com/homes/88095498

    1059 Van Kirk Street PHILADELPHIA, PA 19149

    • Price: $275,000
    • Status: Active
    • Updated: 47 min ago
    • ID#: 1006695702
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.04
    Acres
    1925
    Built
    Neighborhood:
    Oxford Circle
    County:
    Philadelphia
    Area:
    19149 (19149)
    School District:
    The School District Of Philadelphia
    Property Description
    Small Business Entrepreneur Investor Opportunity: Established Mixed-Use Commercial Property For Sale on a prominent corner with strong traffic counts and good curb parking in front. Located in the Oxford Circle Area of Philadelphia, this property has operated as a Residential Duplex plus a Pizzeria Luncheonette for over 30 years. Good for either owner-occupant or investor. No L&I Violations. New Fire Alarm system. The property contains one one-bedroom (Section-8) and one studio apartment - 1,120 TSF with hardwood floors, good kitchen, bath, electric heat; plus an 880 SF commercial space actively used as a pizzeria. Separate meters. 2018 Financials: Gross Annual Income: $33,960 net after 5% Residential Vacancy, 21% Expenses, NOI $26,862, c/c ROI is 19.66% after the mortgage on a 25% cash investment. DSCR is 2.02. This leveraged model generates an attractive 9.75% CAP at the asking price. Essentially, the residential income covers the expenses and a 75% LTV mortgage, so the commercial component is poised to perform as the money-maker. The ten-year commercial tenant is now on an M/M lease, so you are free to launch your preferred business. The sale is 'As-Is' for real estate only, no commercial fixtures. Eligible for FHA ownership. Manifest your dream! Call for additional details, property brochure or appointment.
    Exterior Features

    Architectural Style Other Construction Materials Brick Garage Spaces 0.00 Garage YN No Parking Features Street Parking Types On Street Pool No Pool Property Condition Average+Prop Riparian Rights YN No Roof Flat Sign On Property YN Y Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Basement None Basement YN No Building Area Total 2000.00 Cooling Wall Unit Exclusions No Commercial Fixtures Fireplace YN No Flooring Wood Heating ElectricBaseboard - Electric Heating YN Yes Interior Features Store/Office Laundry Type None Room List Master Bedroom Single Room Units 1 Two Bedroom Units 1

    Property Features

    Acceptable Financing ConventionalFha 203(B) Accessibility Features None Annual Gross Expense 7157.00 Association YN No Central Air YN No Condo YN No Cross Street Oxford Ave Gross Income 33960.00 Heating Fuel Electric Hot Water Electric Navigable Water YN N New Construction YN No Original MLSNumber 300704101404:TREND Other Expense 4950.00 Ownership Interest Fee Simple Possession 31-60 Days Cd61-90 Days Cd Property Sub Type Triplex Sale Includes Land Only Sewer Public Sewer Structure Design Type Other Tax Annual Amount 2207.0 Tax Assessment Amount 157700.0 Tax Lot 34 Vacation Rental YN No Water Source Public Zoning Rm1

    Listing courtesy of Keller Williams Philadelphia.
    ©2019 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. 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: 2019-02-19T09:54:03.31.
     
    Keller Williams Real Estate
    100 Campbell Blvd, Suite 106
    Exton PA, 19341