Philadelphia, PA 19104,312 N 40TH ST
Philadelphia, PA 19104,312 N 40TH ST
Philadelphia, PA 19104,312 N 40TH ST
Philadelphia, PA 19104,312 N 40TH ST
Philadelphia, PA 19104,312 N 40TH ST
Philadelphia, PA 19104,312 N 40TH ST
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$615,000

$725,000

15.2%
Est.Price: ?

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Est. payment /mo

4,324 SqFt


SOLD DATE : 03/29/2024

Key Details

Sold Price $615,000

Property Type Multi-Family

Sub Type Detached

Listing Status Sold

Purchase Type For Sale

Square Footage 4,324 sqft

Price per Sqft $142

Subdivision Powelton Village

MLS Listing ID PAPH2297268

Sold Date 03/29/24

Style Other

Abv Grd Liv Area 4,324

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $6,990

Tax Year 2022

Lot Size 2,875 Sqft

Acres 0.07

Lot Dimensions 25.00 x 115.00

Property Description

Investor Owner Opportunity! This spacious duplex spans over 4200+ sqft, featuring two units and outdoor space, making it an attractive investment in the heart of University City. Located less than half a mile from both Drexel University and the University of Pennsylvania campuses, this property is strategically positioned for student housing demand.Unit A boasts five bedrooms and two bathrooms, while Unit B offers five bedrooms and three bathrooms. The property stands as a standalone structure with separately metered utilities, ensuring efficiency and convenience. Each unit is equipped with in-unit washers and dryers, kitchens adorned with granite countertops and stainless steel appliances, and a sizable rear yard accessible from Unit A and externally from Unit B.

The investment potential is underscored by the property's current monthly rental income of $4,750. Although currently vacant, this presents a prime opportunity for investors to capitalize on the burgeoning demand for housing in the area. This investment opportunity is situated in a redeveloped area boom, witnessing substantial growth and transformation over the past 8-10 years. Its proximity to both Drexel and Penn universities makes it an attractive choice for students and professionals alike. Convenience is key, with the property just two blocks away from Presbyterian Hospital, the 40th Street Station of the Market-Frankford Line, Penn’s LUCY bus, and the vibrant 40th Street amenities, including restaurants, shops, and a supermarket between Market and Walnut Streets. Transportation is a breeze with easy access to the Bus route 40 and the Drexel bus, both just a half block away. Moreover, the property falls within the night patrol area of Drexel. Don't miss out on this exceptional investment opportunity in a thriving and strategically located University City neighborhood!

Location

State PA

County Philadelphia

Area 19104 (19104)

Zoning RM1

Rooms

Basement Full, Fully Finished

Interior

Interior Features Sprinkler System

Hot Water Electric

Heating Forced Air

Cooling Central A/C

Flooring Wood, Tile/Brick

Fireplace N

Window Features Energy Efficient

Heat Source Natural Gas

Exterior

Utilities Available Cable TV Available

Water Access N

Roof Type Flat

Accessibility None

Garage N

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 061162500

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by James McFadden • Kurfiss Sotheby's International Realty
Bought with Pierre Mark Eade • Homestarr Realty
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12 Terry Drive Suite 204, Newtown, Pennsylvania, 18940, United States

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