Scott Wilson - Coldwell Banker Hearthside
1059 Van Kirk St
PHILADELPHIA, PA 19149

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.

Details

MLS#1006695702
Sub-TypeResale
StatusActive
Year1925
Days On Site79

Features

Market Activity 19149

Loading Form

Loading Form

Area Information

StatePA
CityPHILADELPHIA
Zip Code19149
Area19149 (19149)
Listing VS Median (in 19149)
Price:
$275,000
low | high
Med:
$169,450
88.381818181818% of Average
On Site:
79
low | high
Med:
202.5
39.012345679012% of Average
Listing Updated: 12/17/2018
MLS Number: 1006695702
Listing Provided By:
Charles Balducci  of  Keller Williams Philadelphia

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

Information Deemed Reliable But Not Guaranteed

The information provided by this website is for the personal, non-commercial use of consumers 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 on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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.

Copyright BRIGHT, All Rights Reserved