NOT LISTED FOR SALE

3214 Frankford Ave Philadelphia, PA 19134

Harrowgate Neighborhood
-- Bed
-- Bath
4,016 Sq Ft
2,944 Sq Ft Lot

Last Sold February 26, 2021

Last sale price $500,000 $125 Per Sq Ft

19 Days on Market

Highlights

  • Straight Thru Architecture
  • No HOA
  • Forced Air Heating System

About This Home

As of February 2021

This is a great opportunity to take over an income producing property with $4,875 in ACTUAL monthly revenue. The entire property is comprised of 8 residential units, 1 store front and 1 office. 10 TOTAL UNITS. The office and store front are currently used by the owner but are projected to bring in $700/month each! That would make you total monthly revenue $6275. Tenants are on month to month leases and pay all utilities except water. The current rental rates are under market value and due to be increased. This is a great value ad opportunity for a smart investor. Currently the property has a gross annual rental income of $58,500. Taxes are $3,667/year, insurance is $4200/year and owner pays water ESTIMATED $2,880/year. This gives you a 8.6% CAP rate at the current asking price. With modest $50 increases in rents and the filled vacancies of the commercial spaces this property should be grossing $80,000+ annually giving you a projected CAP rate of 12% at the current asking price. All offers will be considered but this property will not last long! All 8 residential units are occupied. Showings will be by appointment only and listing agent will be present 48 hours notice is required minimum.

Last Agent to Sell the Property

Jason Rabinovich

BHHS Fox & Roach-Center City Walnut License #AB068249 Listed on: 12/07/2020

BHHS Fox & Roach-Center City Walnut

Co-Listed By

Sam Coady

BHHS Fox & Roach-Center City Walnut

Last Buyer's Agent

Nina Gupta

EXP Realty, LLC License #rs334732

EXP Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,667

Year Built

  • Built in 1915

Lot Details

  • 2,944 Sq Ft Lot
  • Lot Dimensions are 32.00 x 92.00

Parking

  • On-Street Parking

Home Design

  • 4,016 Sq Ft Home
  • Straight Thru Architecture
  • Masonry

Utilities

  • Forced Air Heating System
  • Natural Gas Water Heater

Listing and Financial Details

  • The owner pays for sewer, real estate taxes, water
  • Tax Lot 223
  • Assessor Parcel Number 881042405

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 2 Vacant Units
  • Insurance Expense $4,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,667

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Interior Row/Townhouse
  • Architectural Style: Straight Thru
  • Ownership: Fee Simple
  • Exclusions: Tenants personal property, Owner's personal property
  • New Construction: No
  • Year Built: 1915
  • Automatically Close On Close Date: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Total Sq Ft: 4016
  • Living Area Sq Ft: 4016
  • Price Per Sq Ft: 136.95
  • Above Grade Finished Sq Ft: 4016
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 3214

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
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Natural Gas
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Natural Gas
  • 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

Lot Info

  • Land Use Code: CA0
  • Lot Size Acres: 0.07
  • Lot Dimensions: 32.00 x 92.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 2944.00
  • Year Assessed: 2020
  • Zoning: CMX2

Rental Info

  • Existing Lease Type: Month To Month
  • Ground Rent Exists: No
  • Number Of Units Month To Month: 8
  • Owner Pays: Sewer, Taxes - Real Estate, Water
  • Rent Control: No
  • Total Actual Rent: 58500.00
  • Units Leased Count: 8
  • Vacation Rental: No

Tax Info

  • School Tax: 2012.00
  • Tax Annual Amount: 3667.00
  • Assessor Parcel Number: 881042405
  • Tax Lot: 223
  • Tax Total Finished Sq Ft: 4016
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020
  • Close Date: 02/26/2021

Multi Family

  • Number Of Units Vacant: 2

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
02/26/2021 02/26/21 Sold $500,000 0.0% $125 / Sq Ft
12/07/2020 12/07/20 For Sale $500,000 -- $125 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jason Rabinovich

    Seller's Agent in 2021

    Jason Rabinovich

    BHHS Fox & Roach

    (412) 965-8859

    4 in this area

    89 Total Sales

    Jason Rabinovich
    Section Image

  • S

    Seller Co-Listing Agent in 2021

    Sam Coady

    BHHS Fox & Roach

    (215) 528-9309

    4 in this area

    33 Total Sales

    Sam Coady
    Section Image

  • N

    Buyer's Agent in 2021

    Nina Gupta

    EXP Realty, LLC

    (484) 832-6019

    1 in this area

    60 Total Sales

    Nina Gupta
    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: PAPH952282

Bright MLS

APN: 88-1042405

Pennsylvania Philadelphia County Philadelphia 19134 Harrowgate

3214 Frankford Ave, Philadelphia, PA

This home is located at 3214 Frankford Ave, Philadelphia, PA 19134 since 07 December 2020. This property was built in 1915. 3214 Frankford Ave is a home located in Philadelphia County with nearby schools including John H. Webster School, Kensington High School, and Kensington Health Sciences Academy.

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