PA > Philadelphia > Bella Vista
Philadelphia, PA 19147,819/1182 S 11TH ST
Philadelphia, PA 19147,819/1182 S 11TH ST
Philadelphia, PA 19147,819/1182 S 11TH ST
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Simone Velvel

Simone Velvel

+1(703) 507-7614
$1,500,000
Est. payment /mo
4,819 SqFt
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UPDATED:

11/25/2024 01:31 PM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 4,819 sqft

Price per Sqft $311

Subdivision Bella Vista

MLS Listing ID PAPH2419812

Originating Board BRIGHT

Year Built 1915

Annual Tax Amount $12,134

Tax Year 2025

Lot Size 1,360 Sqft

Acres 0.03

Lot Dimensions 16.00 x 85.00

Property Description

Invest in your future with this pair of fully occupied, cash-flowing triplexes in the popular Bella Vista/Italian Market neighborhoods. The owners are ready to retire and pass on their success to you. This listing reflects the price/data for 819 & 1182 S 11th Street- 6 total units in 2 triplexes. With a 99% occupancy rate spanning 3 to 17 years, make your first investment an “easy win,” or add another solid multi-family building(s) to your portfolio. Either way- it’s a win. The tenants are happy, love the location, and are paying near or at-market rents, so you don’t have to worry about making dramatic changes after you buy. Plus, there’s potential to increase your earnings by renting out additional storage in the basements to the tenants or someone local who needs extra storage space (or use it for yourself!). You can also do some modest upgrades in 819 when units turnover and increase the rents year after year. Each tenant in each unit pays for their gas and electric (separate utilities & mechanicals- yea!). The landlord only pays for water and common electric. All units have the required sprinkler systems, are legal triplexes, and have active rental licenses and Lead-Safe Certificates from the city. Details about the buildings: 819 S 11th: Gross rent is $4500/mo for two 2-bed/1-bath flats and one 1-bed/1-bath flat. The first floor has outdoor space and access to an extra basement room that is finished, plus exclusive access to the unfinished portion of the basement. Bilco access to the basement is temporarily closed shut but could be accessed if needed down the road. Each unit has in-unit laundry. Tenants use window units for cooling. 1182 S 11th: Gross rent is $5700/mo for two 2-bed/2 bath flats and one 1-bed/1bath flat. The third floor has a private roof deck, and all units have central air and in-unit laundry. The basement is available for your use or an opportunity to add value by providing additional storage for the tenants. The opportunity here is perfect- cash flow right out of the gate, and plan to make strategic value-adds along the way to increase your profit!

Location

State PA

County Philadelphia

Area 19147 (19147)

Zoning RM1

Interior

Hot Water Natural Gas, Electric

Heating Baseboard - Electric, Forced Air

Cooling Central A/C, Window Unit(s)

Flooring Ceramic Tile, Wood, Carpet

Inclusions All Refrigerators, washers, & dryers

Heat Source Natural Gas, Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

Elementary Schools Fanny Jackson Coppin

Middle Schools Fanny Jackson Coppin

High Schools Furness Horace

School District The School District Of Philadelphia

Others

Tax ID 022315300

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, VA

Listing Terms Cash, Conventional, VA

Financing Cash,Conventional,VA

Special Listing Condition Standard

Read Less Info
Bright MLS (BMLS)
Listed by Stacy L Sanseverino • KW Empower
agent-avatar

"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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819/1182 S 11TH ST

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