Homes for sale - 5542 LARCHWOOD AVE, Philadelphia, PA 19143

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Simone Velvel

simone@thevelvelgroup.com +1(703) 507-7614

Listed by Jeffrey Block • Compass Pennsylvania, LLC

$2,860,000

Est. payment - /mo

43,500 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 43,500 sqft

Price per Sqft $65

Subdivision Cobbs Creek

MLS Listing ID PAPH2231770

Year Built 1920

Available Date 2023-05-03

Annual Tax Amount $51,721

Tax Year 2023

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

A fantastic opportunity to acquire a premium and well managed portfolio of 22 single-family properties (all occupied), centered in and around the burgeoning Cobbs Creek neighborhood in West Philadelphia. All 22 parcels are situated in a tight geographic area ideal for management and enhanced economies of scale. In a red hot neighborhood with some under-valued rents and significant capital appreciation opportunity. If desired, enjoy the flexibility to improve and/or spin-off certain assets and hold the rest. Professionally managed package (property manager can remain, at buyer's option). These 22 townhomes present an advantageous investment opportunity in a rapidly improving West Philadelphia neighborhood, close to amenities, public transportation, Cobbs Creek Trail, and other developments. Inclusive of those developments is a $65 million commitment by the city of Philadelphia, The Cobbs Creek Foundation, and The TGR Foundation (founded by Tiger Woods) to revamp the existing golf course (Philadelphia's oldest course), enhance the public space, and create an educational campus for local youth. The Cobbs Creek Environmental Center has also planned significant improvements. The full 22-property portfolio includes (with their OPA Account #'s): 1410 N Hirst Street, (342327100). 1633 N 60th Street, (342196000). 1847 S 54th Street (512085600). 516 S 59th Street, (032198600). 5355 Irving Street, (603054300). 5513 Irving Street, (604057300). 5542 Larchwood Avenue, (463004200). 5624 Rodman Street, (463031900). 5639 Montrose Street, (463141400). 5642 Broomall Street, (513114000). 5731 Rodman Street, (463029200). 5734 Rodman Street, (463035200). 5752 Pemberton Street, (463072700).5757 Walton Street, (463081300). 5787 Stewart Street, (043219500). 5816 Washington Avenue, (033113800). 5910 Webster Street, (033030300). 6021 Christian Street, (033053800). 6037 Irving Street, (031103100). 6111 Irving Street, (031104700). 6137 Locust Street, (031089100). 629 N Frazier Street, (043062900).

Location

State PA

County Philadelphia

Area 19143 (19143)

Zoning RSA-5

Interior

Hot Water Natural Gas, Other

Heating Other

Cooling Other

Inclusions All appliances.

Heat Source Natural Gas, Other

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 463004200

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

Read Less Info

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland, 20895, USA

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5542 LARCHWOOD AVE Philadelphia, PA 19143