NOT LISTED FOR SALE

1406 N Willington St Philadelphia, PA 19121

North Philadelphia West Neighborhood

Estimated Value: $679,000 - $880,000

-- Bed
6 Baths
2,466 Sq Ft
$320/Sq Ft Est. Value

Last Sold July 30, 2021

Last sale price $686,000 $278 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $4,493/month

55 Days on Market

About This Home

As of July 2021

This newly constructed property is a fully occupied 9 bedroom duplex leased for $5,810 per month through 8/1/2021, and is being offered at a 7.6% cap rate. The property is located just a few blocks from the Temple University main campus, has the remainder of a 10 year tax abatement, and is surrounded by new student development. The property features a full rear yard and roof deck, which allows it to command a premium over market rents. The building consists of a lower 4 bedroom bi-level unit and an upper 5 bedroom bi-level unit, each with access to a private outdoor space. The building includes a roof deck which is very unique for student rental properties at Temple University. The Temple University rental market has been consistently strong over the last several years, with average rent prices increasing on new construction inventory. The property is located just south of campus between Francisville and Temple, with tons of surrounding student and market-rate developments. With increased demand for new construction inventory in the immediate area, this offering presents the opportunity to acquire a unique student development in a rapidly appreciating market with the ability to increase rent over time or transition to market rate renters.

Last Agent to Sell the Property

Jonathan Beaulieu

JBMP Group Listed on: 04/16/2021

Last Buyer's Agent

Cheryl Lucas-Bash

Homestarr Realty License #9702182

Homestarr Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,274

Year Built

  • Built in 2016

Lot Details

  • 1,136 Sq Ft Lot
  • Lot Dimensions are 16.00 x 71.00

Home Design

  • Duplex
  • Masonry

Interior Spaces

  • 2,466 Sq Ft Home
  • Basement Fills Entire Space Under The House

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Community Details

  • No Home Owners Association
  • 2 Units

Listing and Financial Details

  • Tax Lot 37
  • Assessor Parcel Number 471237700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,274

Year Built

Built in 2016

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Duplex
  • Structure Type: Interior Row/Townhouse
  • Ownership: Fee Simple
  • New Construction: No
  • Expected On Market: 2021-04-16
  • Year Built: 2016
  • Automatically Close On Close Date: No
  • Remarks Public: This newly constructed property is a fully occupied 9 bedroom duplex leased for $5,810 per month through 8/1/2021, and is being offered at a 7.6% cap rate. The property is located just a few blocks from the Temple University main campus, has the remainder of a 10 year tax abatement, and is surrounded by new student development. The property features a full rear yard and roof deck, which allows it to command a premium over market rents. The building consists of a lower 4 bedroom bi-level unit and an upper 5 bedroom bi-level unit, each with access to a private outdoor space. The building includes a roof deck which is very unique for student rental properties at Temple University. The Temple University rental market has been consistently strong over the last several years, with average rent prices increasing on new construction inventory. The property is located just south of campus between Francisville and Temple, with tons of surrounding student and market-rate developments. With increased demand for new construction inventory in the immediate area, this offering presents the opportunity to acquire a unique student development in a rapidly appreciating market with the ability to increase rent over time or transition to market rate renters.
  • Special Features: VirtualTour

Interior Features

  • Basement: Yes
  • Basement Type: Full
  • Total Sq Ft: 2466
  • Living Area Sq Ft: 2466
  • Price Per Sq Ft: 281.83
  • Above Grade Finished Sq Ft: 2466
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1406

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Electric
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No

Schools

  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District Key: 300200397108
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Land Assessed Value: 162422.00
  • Land Use Code: W50
  • Lot Size Acres: 0.03
  • Lot Dimensions: 16.00 x 71.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1136.00
  • Year Assessed: 2021
  • Zoning: RM1

Rental Info

  • Units Leased Count: 2
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 1220870
  • School Tax: 1248.00
  • Tax Annual Amount: 2274.00
  • Assessor Parcel Number: 471237700
  • Tax Lot: 37
  • Tax Total Finished Sq Ft: 2466
  • Tax Data Updated: No
  • Tax Year: 2021
  • Close Date: 07/30/2021

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 16, 2021
Closed on
Jul 28, 2021
Sold by
Gesk Properties Llc
Bought by
Hardikar Tanay and Patel Atit M
Seller's Agent
Jonathan Beaulieu
JBMP Group
Buyer's Agent
Cheryl Lucas-Bash
Homestarr Realty
List Price
$695,000
Sold Price
$686,000
Premium/Discount to List
-$9,000
-1.29%
Current Estimated Value
$789,059

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$103,059
Avg. Annual Appreciation
3.35%
Original Mortgage
$583,100
Interest Rate
3.14%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 25, 2016
Sold by
Chase Investments Llc
Bought by
Gesk Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,800
Interest Rate
3.47%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 14, 2015
Sold by
Phl Investments Llc
Bought by
Chase Investments Llc

Purchase Details

Closed on
May 18, 2015
Sold by
Logan Cynthia
Bought by
Phl Investments Llc

Purchase Details

Closed on
Mar 1, 1986
Bought by
Losan Cynthia
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hardikar Tanay $686,000 One Abstract Services Llc
Gesk Properties Llc $552,500 None Available
Chase Investments Llc $50,175 None Available
Phl Investments Llc $10,000 None Available
Losan Cynthia -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hardikar Tanay $583,100
Previous Owner Gesk Properties Llc $440,800
Previous Owner Gesk Properties Llc $492,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/30/2021 07/30/21 Sold $686,000 -1.3% $278 / Sq Ft
06/11/2021 06/11/21 Pending -- -- --
04/16/2021 04/16/21 For Sale $695,000 -- $282 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,327 $724,900 $144,980 $579,920
2024 $2,327 $724,900 $144,980 $579,920
2023 $2,327 $831,300 $166,260 $665,040
2022 $2,274 $166,260 $166,260 $0
2021 $2,274 $0 $0 $0
2020 $2,274 $0 $0 $0
2019 $2,236 $0 $0 $0
2018 $7,712 $0 $0 $0
2017 $823 $0 $0 $0
2016 $100 $0 $0 $0
2015 $105 $0 $0 $0
2014 -- $7,800 $7,800 $0
2012 -- $1,824 $1,824 $0
Source: Public Records

Agents Affiliated with this Home

  • Jonathan Beaulieu

    Seller's Agent in 2021

    Jonathan Beaulieu

    JBMP Group

    (267) 619-2108

    8 in this area

    68 Total Sales

    Jonathan Beaulieu
    Section Image
  • Cheryl Lucas-Bash

    Buyer's Agent in 2021

    Cheryl Lucas-Bash

    Homestarr Realty

    (609) 221-3732

    1 in this area

    25 Total Sales

    Cheryl Lucas-Bash
    Section Image
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Map

Source: Bright MLS

MLS Number: PAPH1005438

Bright MLS

APN: 471237700

Pennsylvania Philadelphia County Philadelphia 19121 North Philadelphia West

1406 N Willington St, Philadelphia, PA

This home is located at 1406 N Willington St, Philadelphia, PA 19121 since 16 April 2021 and is currently estimated at $789,059, approximately $319 per square foot. This property was built in 2016. 1406 N Willington St is a home located in Philadelphia County with nearby schools including Gen. George C. Meade School, Vaux High School: A. Big Picture School, and Alliance for Progress Charter School.

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