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129--131 Susquehanna

PHILADELPHIA, PA 19122
  • $1,590,000
  • STATUS: Active
  • ON SITE: 66 Days
  • ID#: PAPH2165290
UPDATED: 187 min ago
$1,590,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1925
County:

School Ratings & Info

Description

-- Value-Add Opportunity : Complete Renovation of Interior Units as well as Front and Rear Yards to Increase Rents; Potential to Convert Rear Yard into Parking Area for Tenants -- Qualified Opportunity Zone Investment: Utilize Realized Capital Gains to Erase Tax Obligation-- Adjacent to Norris Square Park: Situated Adjacent to Norris Square; Added Amenity for Tenants -- Transit Friendly: Access to Market-Frankford Line, Bus and Trolley Routes -- Proximity to Philadelphia+GGs Major Employers: Close Proximity to Temple University and Temple Health as well as Employers in Center City and University City129-131 West Susquehanna Avenue are located in the North Philadelphia East section of the City of Philadelphia. The Property is comprised of 10 apartment units fronting Norris Square Park. The property is located within a Qualified Opportunity Zone (QOZ) and is situated a short walk from SEPTA+GGs York-Dauphin Station for the Market-Frankford Line, Fishtown+GGs Frankford Avenue, and the Front Street commercial corridor. The transit accessibility and prime location of this property make it extremely attractive to renters and has led to an extremely high occupancy rate.Seven of the apartments are in value-add condition with significant opportunity to increase rents. The owner of The Property recently renovated one of the units and was able to boost the rental rate significantly. There is also an opportunity to beautify communal areas such as the front and back yards in order to help boost rents or to monetize the backyard by turning it into parking spaces.The Norris Square neighborhood is seeing a massive wave of development, but still has a ton of room for future growth and rent appreciation. The Property is surrounded by development with new apartment buildings, single-family homes, and commercial storefronts lining nearby blocks. Eleven new townhomes are planned in the lot just behind the subject Property. Norris Square Park, one of Philadelphia+GGs largest neighborhood parks located just across the street from the Property, is currently undergoing a complete, multi-phase makeover.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-12-05T23:50:03.683.
www.execuhome.com/homes/133561008
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129--131 Susquehanna PHILADELPHIA, PA 19122

  • Price: $1,590,000
  • Status: Active
  • On Site: 66 Days
  • Updated: 187 min ago
  • ID#: PAPH2165290
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1925
Built
Neighborhood:
19122 (19122)
County:
Philadelphia
Area:
19122 (19122)
School District:
The School District Of Philadelphia
Property Description
-- Value-Add Opportunity : Complete Renovation of Interior Units as well as Front and Rear Yards to Increase Rents; Potential to Convert Rear Yard into Parking Area for Tenants -- Qualified Opportunity Zone Investment: Utilize Realized Capital Gains to Erase Tax Obligation-- Adjacent to Norris Square Park: Situated Adjacent to Norris Square; Added Amenity for Tenants -- Transit Friendly: Access to Market-Frankford Line, Bus and Trolley Routes -- Proximity to Philadelphia+GGs Major Employers: Close Proximity to Temple University and Temple Health as well as Employers in Center City and University City129-131 West Susquehanna Avenue are located in the North Philadelphia East section of the City of Philadelphia. The Property is comprised of 10 apartment units fronting Norris Square Park. The property is located within a Qualified Opportunity Zone (QOZ) and is situated a short walk from SEPTA+GGs York-Dauphin Station for the Market-Frankford Line, Fishtown+GGs Frankford Avenue, and the Front Street commercial corridor. The transit accessibility and prime location of this property make it extremely attractive to renters and has led to an extremely high occupancy rate.Seven of the apartments are in value-add condition with significant opportunity to increase rents. The owner of The Property recently renovated one of the units and was able to boost the rental rate significantly. There is also an opportunity to beautify communal areas such as the front and back yards in order to help boost rents or to monetize the backyard by turning it into parking spaces.The Norris Square neighborhood is seeing a massive wave of development, but still has a ton of room for future growth and rent appreciation. The Property is surrounded by development with new apartment buildings, single-family homes, and commercial storefronts lining nearby blocks. Eleven new townhomes are planned in the lot just behind the subject Property. Norris Square Park, one of Philadelphia+GGs largest neighborhood parks located just across the street from the Property, is currently undergoing a complete, multi-phase makeover.
Exterior Features

Construction Materials MasonryStone Garage YN No Parking Types None Riparian Rights YN No Roof AsphaltRubber Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 5504.00 Cooling Other Heating Forced Air Heating YN Yes Net Square Feet 4490.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment Building Central Air YN No Cooling Fuel Other Heating Fuel Other Hot Water Other Lease Considered YN No Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 10 Original MLSNumber 801919974662 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 6497.00 Tax Assessment Amount 464400.00 Vacation Rental YN No Water Source Public Year Built Effective 2021 Zoning Rsa-5 Zoning Description Apartments; Residential

Listing courtesy of Tcs Management, Llc: .


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-12-05T23:50:03.683.
 
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