- Noah Ostroff
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Property Details
- - Price: $1,659,000
- - Neighborhood: South Street
- - Property Tax: $14,124
- - Listing Type: House/Townhome
- - MLS ID: 5972329
- - Square Feet: 10,800
623-25 SOUTH ST, Philadelphia PA 19147
This parcel includes 625 South Street and 624 Rodman Street. It consists of 2 retails(stores used to be restaurant), 7 apartment(3 two-bedroom Apartments and 3 studios and 1 one bedroom Apt). Apartments have been beautifully renovated with granite countertops in the kitchen, new wood floors, tile baths, new heating system, new electric and new windows. Walking distance to coffee shops, restaurants, theaters, shopping and easy access to major roadways. Great development opportunity on South Street. Rents are currently under market value, the annual gross income was over 200k in 2007, total annual income now is approximately $152,760, expenses are $15998.50 +/- (623 and 625 store pay half R.E.Tax and own U&O tax) All utilities are separate. Cap rate is 7.83%. Agent: parcel includes 625 South Street and 624 Rodman Street. 2 retails, 7 apartments. Annual gross income $152760, 7.83% cap rate.
Listing Courtesy of Appreciation Realty, LLC
