4714 GRISCOM ST Philadelphia, PA 19124
2,528 SqFt
UPDATED:
11/25/2024 04:59 PM
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,528 sqft
Price per Sqft $128
MLS Listing ID PAPH2422578
Style Bi-level
Abv Grd Liv Area 2,528
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $4,685
Tax Year 2024
Lot Size 2,290 Sqft
Acres 0.05
Lot Dimensions 19.00 x 118.00
Property Description
Remodeling is currently underway and owner is looking to sell at any stage of the rehab. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as a group-housing of 12 bedrooms.
ARV $850k++
If the buyer chooses to finish the property as 5 apartments building then the projected rents (conservative forecast):
Apt1- 2BRS/1BA- potential rent $1,450
Apt2- 2BRs/1BA- access to back yard- potential rent $1,500
Apt3- 2BRs/1BA- potential rent $1,450
Apt4- 2BRs/1BA- potential rent $1,450
Apt5- 2BRs/1BA- potential rent $1,450
If the buyer chooses to finish the property as a single home, it can be used as a group-housing rental of 10-12 bedrooms, contracted with organizations that typically price $700+ per bedroom per month thus will pay over $7k/mo rent .
In any configuration, the total potential income (conservative estimate) $7,300/mo or $87,600 annually!
Current status-
-Architectural planning and design- completed (drawings are attached here)
-Framing - completed
-New windows installation- completed
-Rough plumbing- completed
-Rough electricity- completed
-Insulations- in progress
Next steps in the project- need to be done
or HVAC installation
o Sheetrocks installation
o Painting
o Flooring installation
o kitchens and bathrooms
The remaining work to complete the building is estimated between $120-160k.
Location
State PA
County Philadelphia
Area 19124 (19124)
Zoning RSA5
Interior
Hot Water None
Heating None
Cooling None
Fireplace N
Heat Source None
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Bi-level
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 232434100
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Variable
Listing Terms Cash, Variable
Financing Cash,Variable
Special Listing Condition Standard
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