MLS® ID: 7256118

1059 VAN KIRK STREET

PHILADELPHIA, Pennsylvania, 19149

$300,000 Active
  • - SQFT
Small Business Entrepreneur Investor Opportunity: Established Mixed-Use Commercial Property For Sale on a prominent corner with strong traffic counts and good curb parking in front. Located in the Oxford Circle Area of Philadelphia, this property has operated as a Residential Duplex plus a Pizzeria Luncheonette for over 30 years. Good for either owner-occupant or investor. No L&I Violations. New Fire Alarm system. The property contains one one-bedroom (Section-8) and one studio apartment - 1,120 TSF with hardwood floors, good kitchen, bath, electric heat; plus an 880 SF commercial space actively used as a pizzeria. Separate meters. 2018 Financials: Gross Annual Income: $33,960 net after 5% Residential Vacancy, 21% Expenses, NOI $26,803, c/c ROI is 16.41% after the mortgage on a 25% cash investment. DSCR is 1.85. This leveraged model generates an attractive 8.93% CAP at the asking price. Essentially, the residential income covers the expenses and a 75% LTV mortgage, so the commercial component is poised to perform as the money-maker. The ten-year commercial tenant is now on an M/M lease, so you are free to launch your preferred business. The sale is 'As-Is' for real estate only, no commercial fixtures. Eligible for FHA ownership. Manifest your dream! Call for additional details, property brochure or appointment.
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Listing courtesy of Keller Williams Philadelphia

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    19149
  • Office name
    Keller Williams Philadelphia
  • Subdivision
    OXFORD CIRCLE
  • SQFT
    0
  • Bedrooms
    0
  • Property type
    Multi-Family
  • Zoning type
    RM1
  • School district
    THE SCHOOL DISTRICT OF PHILADELPHIA
  • Year built
    1925
  • Lot size
    0.04
  • Sewer
    Public Sewer
  • Heating
    Baseboard - Electric
  • Agent name
    Charles Balducci
  • Purchase Type
    Active
  • Price Range
    $200k-$300k
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    KELWLMCC
  • Agent ID
    3152129

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