417 W Queen Lane
Philadelphia, PA 19144
- – beds
- – baths
- 4,565 sqft
- 5,773 sqft lot
- $136 per sqft
- 1900 build
Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25’x230’ lot lot, generating approximately $68,000 annually with $12,000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!
Listing courtesy of BRIGHT / KW Main Line - Narberth
Last checked:
Checking…
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Last updated Jun 6, 2024
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MLS# PAPH2357994 —
The Building
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Year Built:1900
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Year Built Source:Assessor
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New Construction:No
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Construction Materials:Masonry
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Structure Type:Detached
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Architectural Style:Other
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Building Units Total:4
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Accessibility Features:None
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Foundation Details:Concrete Perimeter
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Basement:Yes
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Basement Type:Unfinished
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Total SqFt Source:Assessor
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Total Below Grade SqFt Source:Assessor
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Tax Total Finished SqFt:4565
Interior
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Room Count:7
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Fireplace:No
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Living Area SqFt Source:Assessor
Room Dimensions
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Total SqFt:4565
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Living Area SqFt:4,565 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash, Conventional, FHA 203(k)
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Possession:Negotiable
Location
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Directions:Wissahickon Ave to W Queen Lane
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Cross Street:McKean Ave
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Latitude:40.02532000
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Longitude:-75.17596000
The Property
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Property Type:Multi-Family
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Property Subtype:Other
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Lot Size Units:Square Feet
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Lot Size Acres:0.13
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Lot Size Source:Assessor
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Lot Size Dimensions:25.00 x 231.00
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Lot Dimensions Source:Assessor
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Lot SqFt:5,773 Sqft
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Exclusions:Tenant's Property
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Zoning:RSA5
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Other Structures:Above Grade, Below Grade
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Water View:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Land Use Code:U30
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Riparian Rights:No
Listing Agent
- Contact info:
- Office phone:
- (610) 668-3400
Taxes
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Tax ID Number:124006701
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Tax Year:2022
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Tax Lot:3
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Tax Annual Amount:$4,497
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Tax Assessed Value:$321,300
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Year Assessed:2023
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School Tax:2467.0
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City/Town Tax:2029.00
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Total Taxes Payment Frequency:Annually
The Listing
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Buyer's Brokerage Compensation:2.5%
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Buyer Agency Comp Type:% Of Gross
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Buyer Agency Comp Selection:Percent
Heating & Cooling
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Cooling Type:Window Unit(s)
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Central Air:No
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Cooling Fuel:Electric
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Heating:Yes
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Heating Type:Other
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Heating Fuel:Electric
Utilities
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Sewer/Septic:Public Sewer
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Hot Water:Electric
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Water Source:Public
Schools
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School District Name:The School District Of Philadelphia
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School District Source:Listing Agent
The Community
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Subdivision Name:Germantown (West)
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Pool:No Pool
Parking
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Garage:No
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Type of Parking:On Street
Extra Units
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Vacation Rental:No
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Single Room Units:7
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
6/6/24
Jun 6, 2024
|
Price Changed | BRIGHT | $625,000 | -7.4% |
5/23/24
May 23, 2024
|
Listed / Active | BRIGHT | $675,000 |