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
See all 5 photos

$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

Water Access N

Accessibility None

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)

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


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

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(703) 975-0021

josh@realtorforvirginia.com

14291 Park Meadow Drive Suite 500, Chantilly, VA, 20151

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.