Other
1500 MCKINLEY STREET UNITS 1&2
PHILADELPHIA , PA 19149
MLS#: PAPH2140260
$135,000
Property
Beds
2
Full Baths
None
1/2 Baths
None
Year Built
1950
Sq.Footage
1,320
Offers due by 11/2/2022 12 PM. Property price reduced to last "Equitable Interest" offer. Sellers phone has lit up with considerable interest in purchasing equitable interest and reselling that interest. So it must be a great deal. PROPERTY SOLD "AS IS: . All Sales Agreements considered. Philly Zone 1949. Convenient to Large St and access to the Boulevard or a few miles to I95. In need of "MAJOR"Repairs a Stone Mason Bricklayer has serious advantage to significant profits. It is priced now taking in consideration the needed repairs. The property is located on the Corner of McKinley and Large Streets. The actual entrance is on Large Street. Th Unit 1 Apartment consist of 4 Rooms a Living Room, galley Kitchen , Bedroom and full Bath. This needs Renovation. The Unit 2 Apartment likewise Living Room, Galley Kitchen, Bedroom and Full Bath. This needs Renovation but the basement sweetener could give a very satisfactory NOI and cap rate. Renovated I believe rent could be $1350. or more for 1st Floor which includes basement which has added bath and $1025+ for 2nd Floor. An interesting aspect to investigate is the possibility of renting the Basement level if permitted by Code Enforcement. There are multiple Rooms in Basement and bath on Lower Level. There is also a separate Utility Area. The Utilities are all separated Electric needs some updating probably replace Appliances, etc. There is possibilities of a good Capitalization Rate on his if improved in a quality Manner. There is some rusting of lintels above windows and some bricks may need resetting on the side on McKinley Street and added concerns in Rear. See structural Engineer examined report in documents . The duplex has potential of good income and basement to 1st floor the possibilities of even greater improved Income.
Features & Amenities
Interior
-
Total Bedrooms
2
-
Bathrooms
N/A
-
Above Grade Finished Area
1320.0
-
Basement YN
YES
-
Cooling YN
NO
-
Cooling
None
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Natural Gas, Hot Water, Baseboard, Radiant
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
None
-
Pool
Yes
-
Pool Features
None
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.04
-
Property Type
Residential Income
-
Property Sub Type
Duplex
-
Architectural Style
Other
Price
-
Sales Price
$135,000
-
Tax Amount
$3,111
-
Sq. Footage
1, 320
-
Price/SqFt
$102
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Foundation Details
Concrete Perimeter
-
Sewer
Public Sewer
-
Tax Lot
365
-
Water Source
Public
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Norman C Barnes Sr. , Long & Foster Real Estate, Inc.
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Owner, Chief Executive Officer, Portfolio Advisor
Todd Polinchock
Call Todd today to schedule a private showing.
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