Investments Sales Management

Victorian, Other

16 E SPRINGER STREET

PHILADELPHIA , PA 19119

MLS#: PAPH2509682

$750,000

Status: Active Under Contract
Listing number: PAPH2509682
Listing provided by: Elfant Wissahickon-Chestnut Hill
Listing agent phone: None
Last update: 2 days ago
Browse Properties
MT AIRY (EAST) - Residential Income

Property

Beds

6

Full Baths

None

1/2 Baths

None

Year Built

1890

Sq.Footage

5,000

Beautiful, unique 1880's grain mill building fully renovated and converted into three (3) spacious two-bedroom, one bath apartments with a huge adjoining/attached workshop/warehouse/studio space with driveway. Located in the desirable Mt. Airy neighborhood of Philadelphia, all three apartments are thoughtfully and fully renovated, each featuring the unique exposed original wood beams from the grain mill and many large windows in each unit that give great natural light in every area of the space. Each apartment is approximately 1,200 SF with open floor plans, in excellently maintained condition, with central HVAC, in-unit private laundry, and wood plank flooring. All utilities are separated - tenants pay HVAC, electric, gas, hot water. The bonus large commercial-grade (owner-occupied) workshop space has massive potential, with an estimated projected rent of at least $1,500/month. The workspace has a concrete slab floor, high 13' ceiling height, and a large overhead garage door and is very secure. Gross yearly rental income ($72,000) includes projected garage/studio space rent of $1,500 per month, making this a fabulous investment or even potentially a mixture of an owner-occupied situation. This is a cash-flow positive property that is in great condition, with all systems (plumbing, electric, etc.) fully replaced and modernized, low maintenance, and easy renting in a top neighborhood with high demand from an excellent rental pool. The perfect opportunity for both new and seasoned investors seeking a stable, income-generating multifamily property in a prime location near a popular commercial strip with a grocery store, restaurant, cafe, retail, and a bakery just a half block away. Truly unlike any other triplex in the area with its original charm that has been lovingly maintained during the current owners' 40+ years of ownership. 24 HOUR NOTICE required for showings due to the property being fully occupied by excellent tenants. All showings through agent.

Features & Amenities

Interior

  • Other Interior Features

    Eat-in Kitchen, Ceiling Fan(s), Kitchen Island, Open Floorplan

  • Total Bedrooms

    6

  • Bathrooms

    N/A

  • Above Grade Finished Area

    5000.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Central Air, Ceiling Fan(s), Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Exhaust Fan, Natural Gas, Forced Air

Exterior

  • Garage

    Yes

  • Garage spaces

    6

  • Parking

    Oversized, Garage, Driveway, Inside Entrance, Attached

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.06

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

  • Architectural Style

    Victorian, Other

Price

  • Sales Price

    $750,000

  • Tax Amount

    9970.0

  • Sq. Footage

    5, 000

  • Price/SqFt

    $150

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Foundation Details

    Stone

  • Sewer

    Public Sewer

  • Tax Lot

    145

  • Water Source

    Public

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Listing Courtesy of John P O'Connell , Elfant Wissahickon-Chestnut Hill

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Agent TheresaKehler

Owner, President, Investment Property Advisor

TheresaKehler

Call Theresa today to schedule a private showing.

(215) 605-9647

theresa@tntrealestatesolutions.com


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Beautiful, unique 1880's grain mill building fully renovated and converted into three (3) spacious two-bedroom, one bath apartments with a huge adjoining/attached workshop/warehouse/studio space with driveway. Located in the desirable Mt. Airy neighborhood of Philadelphia, all three apartments are thoughtfully and fully renovated, each featuring the unique exposed original wood beams from the grain mill and many large windows in each unit that give great natural light in every area of the space. Each apartment is approximately 1,200 SF with open floor plans, in excellently maintained condition, with central HVAC, in-unit private laundry, and wood plank flooring. All utilities are separated - tenants pay HVAC, electric, gas, hot water. The bonus large commercial-grade (owner-occupied) workshop space has massive potential, with an estimated projected rent of at least $1,500/month. The workspace has a concrete slab floor, high 13' ceiling height, and a large overhead garage door and is very secure. Gross yearly rental income ($72,000) includes projected garage/studio space rent of $1,500 per month, making this a fabulous investment or even potentially a mixture of an owner-occupied situation. This is a cash-flow positive property that is in great condition, with all systems (plumbing, electric, etc.) fully replaced and modernized, low maintenance, and easy renting in a top neighborhood with high demand from an excellent rental pool. The perfect opportunity for both new and seasoned investors seeking a stable, income-generating multifamily property in a prime location near a popular commercial strip with a grocery store, restaurant, cafe, retail, and a bakery just a half block away. Truly unlike any other triplex in the area with its original charm that has been lovingly maintained during the current owners' 40+ years of ownership. 24 HOUR NOTICE required for showings due to the property being fully occupied by excellent tenants. All showings through agent.

16 E SPRINGER STREET

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