$1,175,000
$1,250,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
5,500 SqFt
SOLD DATE : 12/29/2020
Key Details
Sold Price $1,175,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 5,500 sqft
Price per Sqft $213
Subdivision Brewerytown
MLS Listing ID PAPH940856
Sold Date 12/29/20
Style Straight Thru
HOA Y/N N
Abv Grd Liv Area 5,500
Originating Board BRIGHT
Year Built 2019
Annual Tax Amount $3,130
Tax Year 2020
Lot Size 1,575 Sqft
Acres 0.04
Lot Dimensions 18.00 x 87.50
Property Description
Welcome to 1501 N Bailey St, a large 4-unit, 5,500+ SQFT apartment building located in one of Philadelphia's hottest neighborhoods -- Brewerytown, steps away from a beautiful park and Girard Ave. This Quadplex is not only in a convenient location, where property values are appreciating; but it's also located in the Qualified opportunity zone (QOZ), making this a very secure investment. The seller spared no expense, as all units offer stunning finishes, an elegant fireplace, high-efficiency mechanicals, recessed lighting, gorgeous Maple hardwood flooring throughout, and large private outdoor spaces in select units. The living rooms have very high 10ft+ ceiling heights, modern kitchens with black stainless steel appliances, quartz countertops, and two-toned shaker cabinetry for a modern feel. Unit A is a 3 bedroom, 2.5 bath apartment with access to a back patio space! Unit B is a 2 bedroom, 2.5 bath with a gorgeous kitchen and accompanying island. Units C and D are both 2 bedrooms, 2.5 baths with access to individual rooftop decks, perfect for entertaining guests! Street parking is plentiful on this block, and the building is steps away from shopping, doggy daycares, other new construction homes, and much more! The proximity to Fairmount Park's greenery and great access to public transportation make this a desirable location for just about anyone! This limited investment opportunity provides a strong 7%+ cap rate on your investment, with a gross operating income of over $100k! All units are on their own meter for gas and electric, and each have their own gas furnaces, water heaters, as well as washer and dryers! There is a huge development underway across the street and next door, as well as planned future developments on the same block. Currently awaiting to pull CO for anyone interested in the QOZ opportunity. For any inquiries, please contact Philly Home Advisors today!
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Rooms
Basement Full
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Fireplaces Number 4
Fireplace Y
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Straight Thru
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 291361505
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Haralabos Kiziroglou • Long & Foster Real Estate, Inc.
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