Seller's Agent in 2020
Jason Rabinovich
BHHS Fox & Roach
(412) 965-8859
2 in this area
88 Total Sales
1501 N Bailey St Philadelphia, PA 19121
Brewerytown NeighborhoodEstimated Value: $1,181,000 - $1,456,219
--
Bed
4
Baths
5,500
Sq Ft
$236/Sq Ft
Est. Value
Highlights
- 0.04 Acre Lot
- 4 Fireplaces
- Forced Air Heating and Cooling System
- Straight Thru Architecture
- No HOA
- 2-minute walk to Athletic Square Park
About This Home
As of December 2020Welcome to 1501 N Bailey St, a large 4-unit, 5,500+ SQFT apartment building located in one of Philadelphia's hottest neighborhoods -- Brewerytown, steps away from a beautiful park and Girard Ave. This Quadplex is not only in a convenient location, where property values are appreciating; but it's also located in the Qualified opportunity zone (QOZ), making this a very secure investment. The seller spared no expense, as all units offer stunning finishes, an elegant fireplace, high-efficiency mechanicals, recessed lighting, gorgeous Maple hardwood flooring throughout, and large private outdoor spaces in select units. The living rooms have very high 10ft+ ceiling heights, modern kitchens with black stainless steel appliances, quartz countertops, and two-toned shaker cabinetry for a modern feel. Unit A is a 3 bedroom, 2.5 bath apartment with access to a back patio space! Unit B is a 2 bedroom, 2.5 bath with a gorgeous kitchen and accompanying island. Units C and D are both 2 bedrooms, 2.5 baths with access to individual rooftop decks, perfect for entertaining guests! Street parking is plentiful on this block, and the building is steps away from shopping, doggy daycares, other new construction homes, and much more! The proximity to Fairmount Park's greenery and great access to public transportation make this a desirable location for just about anyone! This limited investment opportunity provides a strong 7%+ cap rate on your investment, with a gross operating income of over $100k! All units are on their own meter for gas and electric, and each have their own gas furnaces, water heaters, as well as washer and dryers! There is a huge development underway across the street and next door, as well as planned future developments on the same block. Currently awaiting to pull CO for anyone interested in the QOZ opportunity. For any inquiries, please contact Philly Home Advisors today!
Last Agent to Sell the Property
BHHS Fox & Roach-Center City Walnut License #AB068249 Listed on: 10/07/2020
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,130
Year Built
- Built in 2019
Lot Details
- 1,575 Sq Ft Lot
- Lot Dimensions are 18.00 x 87.50
- Property is in excellent condition
Parking
- On-Street Parking
Home Design
- Quadruplex
- Straight Thru Architecture
- Masonry
Interior Spaces
- 5,500 Sq Ft Home
- 4 Fireplaces
- Basement Fills Entire Space Under The House
Utilities
- Forced Air Heating and Cooling System
- Electric Water Heater
Community Details
- No Home Owners Association
- 4 Units
- Brewerytown Subdivision
Listing and Financial Details
- Tax Lot 198
- Assessor Parcel Number 291361505
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 7, 2020
Closed on
Jan 5, 2021
Sold by
Rollup Llc
Bought by
1501 Bailey Apartments Llc
Seller's Agent
Jason Rabinovich
BHHS Fox & Roach-Center City Walnut
Buyer's Agent
Bob Kiziroglou
Long & Foster Real Estate, Inc.
List Price
$1,250,000
Sold Price
$1,175,000
Premium/Discount to List
-$75,000
-6%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$124,740
Avg. Annual Appreciation
2.68%
Original Mortgage
$940,000
Outstanding Balance
$848,503
Interest Rate
2.71%
Mortgage Type
New Conventional
Estimated Equity
$482,850
Purchase Details
Listed on
Feb 16, 2017
Closed on
Apr 14, 2017
Sold by
2621 Jeferons Llc
Bought by
Rollup Llc
Seller's Agent
Jafar Maleki
BHHS Fox & Roach-Center City Walnut
Buyer's Agent
Jason Rabinovich
BHHS Fox & Roach-Center City Walnut
List Price
$319,000
Sold Price
$270,000
Premium/Discount to List
-$49,000
-15.36%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
48.64%
Purchase Details
Closed on
Dec 8, 2011
Sold by
Truesdale Glenda and Truesdale Ronald
Bought by
2621 Jefferson Llc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 1501 Bailey Apartments Llc | $1,175,000 | None Available | |
| Rollup Llc | $260,000 | None Available | |
| 2621 Jefferson Llc | $22,500 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | 1501 Bailey Apartments Llc | $940,000 | |
| Previous Owner | Rollup Llc | $715,390 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/29/2020 12/29/20 | Sold | $1,175,000 | -6.0% | $214 / Sq Ft |
| 10/07/2020 10/07/20 | For Sale | $1,250,000 | +363.0% | $227 / Sq Ft |
| 04/14/2017 04/14/17 | Sold | $270,000 | -15.4% | $96 / Sq Ft |
| 03/16/2017 03/16/17 | Pending | -- | -- | -- |
| 02/16/2017 02/16/17 | For Sale | $319,000 | -- | $114 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
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 | $3,038 | $1,145,400 | $229,080 | $916,320 |
| 2024 | $3,038 | $1,145,400 | $229,080 | $916,320 |
| 2023 | $3,038 | $761,500 | $217,000 | $544,500 |
| 2022 | $3,038 | $217,000 | $217,000 | $0 |
| 2021 | $10,659 | $0 | $0 | $0 |
| 2020 | $706 | $0 | $0 | $0 |
| 2019 | $706 | $0 | $0 | $0 |
| 2018 | $525 | $0 | $0 | $0 |
| 2017 | $424 | $0 | $0 | $0 |
| 2016 | $424 | $0 | $0 | $0 |
| 2015 | $406 | $0 | $0 | $0 |
| 2014 | -- | $30,300 | $3,200 | $27,100 |
| 2012 | -- | $3,040 | $732 | $2,308 |
Source: Public Records
Agents Affiliated with this Home
-
Jason Rabinovich
-
Eric Dvotsky
Seller Co-Listing Agent in 2020
Eric Dvotsky
BHHS Fox & Roach
(215) 678-8895
2 in this area
166 Total Sales
-
Bob Kiziroglou
Buyer's Agent in 2020
Bob Kiziroglou
Long & Foster
(267) 353-4123
5 in this area
100 Total Sales
-
Jafar Maleki
Seller's Agent in 2017
Jafar Maleki
BHHS Fox & Roach
(215) 852-2040
2 in this area
72 Total Sales
Map
Source: Bright MLS
MLS Number: PAPH940856
APN: 291361505
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