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1216 South Street

Philadelphia, PA 19147

– beds
– baths
2,832 sqft
1,119 sqft lot
$289 per sqft
2006 build

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This is your opportunity to own a triplex in an incredibly convenient location! The building consists of two nearly identical 2 bed/2 bath units on the 2nd & 3rd floors, with a versatile 15 foot wide commercial space on the first floor ready to capture an immense amount of vehicle and foot traffic. When fully occupied, this property produces a solid 6% cap rate and net cash flows of nearly $4,300/mo (P&L included in the documents tab). The 2nd/3rd floor apartments are leased and the 1st floor commercial space has been prepped and is now ready for a new tenant. The commercial space is currently listed for rent, but the unit can be delivered vacant if the buyer wishes to operate their own business out of the 1st floor. The upstairs apartments span the entire length of the building and have ideal barbell layouts with the bedrooms on opposite ends of the apartments. These units check all the boxes with Central AC, in-unit laundry, and dishwashers. Each bedroom has its own dedicated full bathroom, with the large kitchens, dining rooms, and living rooms in between. Once you step outside of the apartments the location almost can't get any more convenient as evidenced by the WalkScore of 97 and TransitScore of 100! Not only is the location surrounded by bus routes (45 NB/SB & 40 EB/WB), but its also < 2 blocks from the Broad St. Line subway. It's also one of the unique areas in the city with multiple large grocery stores within a couple blocks as well; Whole Foods & Acme. Not to mention the nearby local favorites Roxanne BYOB, Jiggy Coffee, Brauhaus Schmitz, Angelo's Pizzeria and so many more!

Listing courtesy of BRIGHT / RE/MAX One Realty - TCDT

Last checked: Checking… • Last updated Oct 17, 2024 •

MLS# PAPH2350376 —

The Building

Year Built:

2006
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Masonry
Structure Type:

Over Storefront
Architectural Style:

Traditional
Building Units Total:

3
Security Features:

Sprinkler System - Indoor, Intercom
Accessibility Features:

None
Basement:

Yes
Basement Type:

Drainage System, Sump Pump, Unfinished
Total SqFt Source:

Estimated
Total Below Grade SqFt:

1038
Total Below Grade SqFt Source:

Estimated
Tax Total Finished SqFt:

2832

Interior

Interior Features:

Wood Floors, Sprinkler System, Store/Office
Flooring Type:

Hardwood
Living Area SqFt Source:

Assessor

Room Dimensions

Total SqFt:

3870
Living Area SqFt:

2,832 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Cash, Conventional, FHA, FHA 203(b), FHA 203(k), VA
Buyer Financing:

Conventional
Possession:

Settlement

Location

Directions:

Heading east on South St., property will be on your righthand side.
Cross Street:

12th St.
Latitude:

39.94309600
Longitude:

-75.16238400

The Property

Property Subtype:

Triplex
Property Type:

Multi-Family
Property Condition:

Good
Lot Size Units:

Square Feet
Lot Size Acres:

0.03
Lot Size Source:

Assessor
Lot Size Dimensions:

15.00 x 75.00
Lot Dimensions Source:

Assessor
Lot SqFt:

1,119 Sqft
Inclusions:

Refrigerators, washers/dryers
Exclusions:

Tenants' furniture & belongings
Zoning:

CMX2
Other Structures:

Above Grade
Water View:

No
Waterfront:

No
Water Oriented:

No
Water Access:

No
Navigable Water:

No
Tidal Water:

No
Land Use Code:

Y50
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

871047400
Tax Year:

2023
Tax Lot:

79
Tax Annual Amount:

$9,213
Tax Assessed Value:

$658,200
Year Assessed:

2023
School Tax:

5055.0
City/Town Tax:

4157.00
Total Taxes Payment Frequency:

Annually

The Listing

Close Sale Type:

Standard Sale

Heating & Cooling

Cooling Type:

Central A/C
Central Air:

Yes
Cooling Fuel:

Natural Gas
Heating:

Yes
Heating Type:

Central
Heating Fuel:

Natural Gas

Utilities

Sewer/Septic:

Public Sewer
Hot Water:

Electric
Water Source:

Public

Schools

Elementary School:

Andrew Jackson
Middle School:

Jackson Andrew
High School:

FURNESS HORACE
School District Name:

The School District Of Philadelphia
School District Source:

Listing Agent

The Community

Subdivision Name:

Washington Sq West
Pool:

No Pool
Cap Rate:

6.03

Parking

Garage:

No
Type of Parking:

None

Extra Units

Other Units:

Unit 1,Unit 2,Unit 3
Vacation Rental:

No
Single Room Units:

1
Two Bedroom Units:

2

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
7/17/24 Jul 17, 2024	Sold	BRIGHT	$820,000	-3.5%
6/12/24 Jun 12, 2024	Pending	BRIGHT	$849,900
5/28/24 May 28, 2024	Sold Subject To Contingencies	BRIGHT	$849,900

Multifamily Sold on 7/17/2024

$820,000

Listing provided by broker:

Stephanie Saracini

RE/MAX One Realty - TCDT

info@remax-one.com

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Listing Courtesy of: BRIGHT and RE/MAX One Realty - TCDT.

The information included in this listing 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. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. 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.

1216 South Street

Philadelphia, PA 19147