NOT LISTED FOR SALE

321 N 40th St Philadelphia, PA 19104

West Powelton Neighborhood
2 Beds
1 Bath
6,300 Sq Ft
2,178 Sq Ft Lot

Last Sold September 24, 2020

Last sale price $1,300,000 $206 Per Sq Ft

191 Days on Market

Highlights

  • No HOA
  • 3-minute walk to 40Th Street
  • 4-minute walk to Saunders Park
  • Central Heating and Cooling System

About This Home

As of September 2020

All leases secured for school year 2020-2021. 100% rent it out. Zero vacancy. Five-year old apartment building with LEGAL Five-Units. Monthly rent income is $10,500 with 15% to 20% rent increase potential. Current rent is below market rent. Fully rented with mostly long-term tenants to July/August of 2020. Property locates at North 40th Street and Powelton Street area. Easy access to campus bus and subway. Walking distance to University of Pennsylvania and Drexel University.It has 6 years of tax abatement left and has 4 stories with a huge unfinished basement as storage. Each apartment is fully furnished with central air/heating, washer/dryer in unit, hard wood floor. granite countertops, all wood cabinets, stainless steel appliances, dish washer, huge bright windows, and big bedrooms. Tenants pay all utilities.

Last Agent to Sell the Property

Nancy Wei

Panphil Realty, LLC License #AB068621 Listed on: 02/01/2020

Last Buyer's Agent

Susan Henley

Compass RE

Compass RE

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,162

Year Built

  • Built in 2016

Lot Details

  • 2,178

Home Design

  • Masonry

Interior Spaces

  • 6,300 Sq Ft Home
  • Property has 3 Levels
  • Unfinished Basement

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • 1 Full Bathroom

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Community Details

  • No Home Owners Association
  • Low-Rise Condominium
  • Powelton Village Subdivision

Listing and Financial Details

  • Tax Lot 366
  • Assessor Parcel Number 881161690

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,162

Year Built

Built in 2016

Lot Details

0

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Garden 1 - 4 Floors
  • Architectural Style: Unit/Flat
  • Ownership: Fee Simple
  • Exclusions: Students' own furnitures
  • Inclusions: Appliances and Furnitures provided to students
  • New Construction: No
  • Story List: Main
  • Expected On Market: 2020-02-01
  • Year Built: 2016
  • Automatically Close On Close Date: Yes
  • Remarks Public: All leases secured for school year 2020-2021. 100% rent it out. Zero vacancy. Five-year old apartment building with LEGAL Five-Units. Monthly rent income is $10,500 with 15% to 20% rent increase potential. Current rent is below market rent. Fully rented with mostly long-term tenants to July/August of 2020. Property locates at North 40th Street and Powelton Street area. Easy access to campus bus and subway. Walking distance to University of Pennsylvania and Drexel University.It has 6 years of tax abatement left and has 4 stories with a huge unfinished basement as storage. Each apartment is fully furnished with central air/heating, washer/dryer in unit, hard wood floor. granite countertops, all wood cabinets, stainless steel appliances, dish washer, huge bright windows, and big bedrooms. Tenants pay all utilities.
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Entry Floor: 1
  • Levels Count: 3
  • Basement: Yes
  • Basement Type: Unfinished
  • Total Sq Ft: 6300
  • Living Area Sq Ft: 6300
  • Price Per Sq Ft: 220.63
  • Above Grade Finished Sq Ft: 6300
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 321

Beds/Baths

  • Bedrooms: 2
  • Main Level Bedrooms: 2
  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Main Level Full Bathrooms: 1

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

  • Condo Co-Op Association: No
  • HOA: No
  • Senior Community: 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: 83010.00
  • Land Use Code: CA0
  • Lot Size Acres: 0.05
  • Lot Dimensions: 20.85 x 100.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 2085.00
  • Year Assessed: 2020
  • Zoning: RM-1

Rental Info

  • Total Actual Rent: 10500.00
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 1027309
  • School Tax: 638.00
  • Tax Annual Amount: 1162.00
  • Assessor Parcel Number: 881161690
  • Tax Lot: 366
  • Tax Total Finished Sq Ft: 5792
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020
  • Close Date: 09/24/2020

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/24/2020 09/24/20 Sold $1,300,000 -6.5% $206 / Sq Ft
08/11/2020 08/11/20 Pending -- -- --
06/24/2020 06/24/20 Price Changed $1,390,000 -2.8% $221 / Sq Ft
02/01/2020 02/01/20 For Sale $1,430,000 +281.3% $227 / Sq Ft
05/12/2014 05/12/14 Sold $375,000 -3.8% $149 / Sq Ft
03/14/2014 03/14/14 Pending -- -- --
12/05/2013 12/05/13 For Sale $390,000 -- $155 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Nancy Wei

    Seller's Agent in 2020

    Nancy Wei

    Panphil Realty, LLC

    (215) 882-1563

    1 in this area

    19 Total Sales

    Nancy Wei
    Section Image
  • Susan Henley

    Buyer's Agent in 2020

    Susan Henley

    Compass RE

    (610) 246-9310

    1 in this area

    35 Total Sales

    Susan Henley
    Section Image
  • Christos Tzimoulis

    Seller's Agent in 2014

    Christos Tzimoulis

    New Age Realty Group Inc

    (484) 437-3126

    1 in this area

    49 Total Sales

    Christos Tzimoulis
    Section Image

  • R

    Buyer's Agent in 2014

    Richard Li

    Liberty Real Estate

    (267) 767-7612

    1 in this area

    76 Total Sales

    Richard Li
    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: PAPH867538

Bright MLS

APN: 24-1-2484-00

Pennsylvania Philadelphia County Philadelphia 19104 West Powelton

321 N 40th St, Philadelphia, PA

This home is located at 321 N 40th St, Philadelphia, PA 19104 since 01 February 2020. This property was built in 2016. 321 N 40th St is a home located in Philadelphia County with nearby schools including Samuel Powel School, Science Leadership Academy Middle School, and West Philadelphia High School.

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