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1209 N FRANKLIN ST Philadelphia, PA 19122
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Key Details
Sold Price $330,000
Property Type Vacant Land
Sub Type Land
Listing Status Sold
Purchase Type For Sale
Subdivision South Kensington
MLS Listing ID PAPH904280
Sold Date 08/24/20
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $624
Tax Year 2020
Lot Size 1,359 Sqft
Acres 0.03
Lot Dimensions 15.62 x 87.00
Property Description
Incredible development opportunity in South Kensington on the border of Northern Liberties. This is a shell property ready for conversion into a triplex with 3 2 bedroom apartments. Architectural plans are in process of being submitted for building permits. Zoning is RM1 and the lot size is 1359 SF so this is a by-right triplex project. The property is only a few steps from Girard Ave with high demand for rental units. Unit breakdown is 2bd/2ba, 2bd/1.5ba, 2bd/1.5ba. Projected rents total approximately $6000/month. The new construction triplex building next door sold for $745,000 over 3 years ago so there is plenty of upside potential to renovate and do a cashout refi once stabalized. Also condos on the block have recently sold in the low to mid 400 s. Architectural plans can be included in the sale and building permits ready for pickup with acceptable terms. Property is being sold as is and must be a cash deal.
Location
State PA
County Philadelphia
Area 19122 (19122)
Zoning RM1
Exterior
Waterfront N
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 141064100
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Umberto Ferraguti • Realty ONE Group Legacy
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