$267,500
$294,999
9.3%For more information regarding the value of a property, please contact us for a free consultation.
1,986 SqFt
SOLD DATE : 04/02/2022
Key Details
Sold Price $267,500
Property Type Multi-Family
Sub Type End of Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 1,986 sqft
Price per Sqft $134
Subdivision Brewerytown
MLS Listing ID PAPH1014368
Sold Date 04/02/22
Style Contemporary
HOA Y/N N
Abv Grd Liv Area 1,986
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $2,674
Tax Year 2021
Lot Size 1,020 Sqft
Acres 0.02
Lot Dimensions 14.16 x 72.00
Property Description
Investor Opportunity! 2550 Cecil B Moore, a value-add, MF rehab-opportunity now available in the quickly developing Brewerytown Neighborhood of Philadelphia, Pennsylvania. The future 3K+ SF property features multiple units. This new property will be perfectly designed for professionals, students and long term residents in mind. Secure the coveted full 10 year tax abatement as well as the Qualified Opportunity Zone Tax Benefit when you convert into a duplex. The QOZ tax incentive allows for (10 year tax deferral on the respective capital gains. A 15% tax reduction on those capital gains when they are taxed in the 10th year. Tax free growth on the opportunity investment as long as the investment is held for 10 years.) Or keep as is and sit back and collect monthly rent. Last tenant moved out 4/31/21, property delivered vacant. The opportunity allows for strong rental demand, asset appreciation and growth forecast for years to come in North Philly. Walkable to stunning Fairmount Park and a short drive to restaurants and bars on Ridge Ave and Girard Ave. This submarket is exploding with new rehabs fueled by the healthcare, business and education sectors as revitalization efforts head North from Girard Ave and East from Temple University. There are new construction comps on Cecil B Moore. Inquire within for Building Financials --Pro forma financials. Buy and renovate today!
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility Doors - Lever Handle(s)
Parking Type On Street
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 324036600
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Aaron Lewis • Full Court Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "