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MLS® ID: PAPH804656

2303 FRANKFORD AVENUE

PHILADELPHIA, Pennsylvania, 19125

$550,000 Active
  • 6 Beds
  • 3 Baths
  • 2592 SQFT
Fantastic opportunity priced to sell in the middle of exploding Frankford Avenue corridor. New construction all around. Millennials and developers are filling in every gap and storefront in this exciting and lively area of 24/7 live work play Fishtown. Zoned CMX 2 this property is currently a bank branch on the ground floor with offices on floors two and three. Zoning allows for another story addition by right. The highest and best use of this property is to add another story to the property and rehab resulting in three(3) large two(2)bed apartments on floors 2-4 and retail space on the ground floor. Pricing takes into consideration a generous rehab cost and immediate owners equity once rehab is complete. Basement is already over 7 foot clearance. Just apply for the permits and start adding equity! Make an offer now as this property is already receiving interest. Renovations will qualify property for a 10 year tax abatement. Proforma CAP Rate 7.5% based on renovations and 1 story addition.
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Listing courtesy of American Heritage Realty

Amenities

  • Full baths
    3
  • Half baths
    0
  • Full Baths Range
    3 Baths
  • Total Baths
    3
  • Zip
    19125
  • Office name
    American Heritage Realty
  • Subdivision
    FISHTOWN
  • SQFT
    2592
  • Bedrooms
    6
  • Property type
    Residential
  • Zoning type
    CMX2
  • School district
    THE SCHOOL DISTRICT OF PHILADELPHIA
  • Year built
    1950
  • Lot size
    0.03
  • Sewer
    Public Sewer
  • Heating
    Forced Air
  • Agent name
    William Kilrain
  • Purchase Type
    Active
  • Price Range
    $500k-$600k
  • Square Feet Range
    2500-3000 sq ft.
  • Bedrooms Range
    6 Beds
  • Year Built Range
    1989 (and earlier)
  • Office ID
    AMRHRT
  • Agent ID
    3250781

Location

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