NOT LISTED FOR SALE

623 N 32nd St Philadelphia, PA 19104

Mantua Neighborhood

Estimated Value: $413,037 - $464,000

-- Bed
-- Bath
2,667 Sq Ft
$161/Sq Ft Est. Value

Last Sold July 02, 2024

Last sale price $400,000 $150 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $3,283/month

33 Days on Market

Highlights

  • Open Floorplan
  • Wood Flooring
  • Forced Air Heating System
  • Straight Thru Architecture
  • Upgraded Countertops
  • 2-minute walk to Cat Park

About This Home

As of July 2024

NOTE: Property is hugely over Assessed. The assessment has been appealed and we're awaiting agreement and adjustment by the city...call listing agent for any questions. Example: if the new 2014 assessment should be set at the current list price, the real estate tax amount might be: $419,900 (sales price) X .013998 (2024 City and SD tax rate) = $5,877.76 annual tax).
Attention Investors!! Don’t wait! 2015 renovated legal Triplex in the Mantua/University City area; just blocks from UPenn, Drexel, the Zoo, Mann Music Center and Art Museum. Easy to get to/ from with I76, Vine Street Expwy with MLK Drive immediately contiguous and public transportation steps away. All units in the building are similar including: unit layout, color scheme, kitchen amenities, appliances, granite countertops, hardwood floors, etc. Each is a 2bd/1bath units and all renovated from the studs out in 2015 including all new electrical, HWH, appliances, one or more of the forced air Heating units replaced, Fire Alarm system (recent inspection), etc; keep your maintenance costs at a minimum! All utilities separate and paid by the tenants except water/sewer. Common area Washer/Dryer in basement. Buyers' agent responsible for confirmation of real estate taxes given recent Phila re-assessment and current Tax Appeal. Pro Forma numbers reflective of property taxes at approximate sale price as listed.
Remaining tenant is long term and under rented at $1,000/month, the difference available to significantly impact future cap rate. Units should rent closer to $1350/mo. Cap Rate based on pro forma projected annual rents @ $1350/mo and 2024 real estate tax rates assuming adjustment by appeal based on sales price.
Current tenant(s) are M2M tenants. All of the units are similar.
Cap Rate Calc Example: Projected rental income: $1350 x 3 x 12 = $48600.
Projected Expenses: $5,877 (Est Taxes after Appeal) + 2350 (Est Ins) + 165 (Ann Rent Lic Fee) + 350 (Ann Trash Fee) + 600 (CAM/util) + 1200 (Water & Sewer) = $10,542. $48,600 - $10,542 = Est $38,058 (NOI) / $419,900 (List price) = 9.06% Cap Rate.

Last Agent to Sell the Property

James Hanning

Bainbridge Realty LLC License #RM421835 Listed on: 01/20/2024

Last Buyer's Agent

Adam Kiliszek

EXP Realty, LLC

EXP Realty, LLC

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1935 | Remodeled in 2015

Lot Details

  • 1,683 Sq Ft Lot
  • Lot Dimensions are 17.00 x 99.00
  • Property is in excellent condition

Parking

  • On-Street Parking

Home Design

  • Triplex
  • Straight Thru Architecture
  • Brick Foundation
  • Masonry

Interior Spaces

  • 2,667 Sq Ft Home
  • Open Floorplan
  • Dining Area
  • Wood Flooring
  • Fire and Smoke Detector
  • Upgraded Countertops
  • Basement

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Natural Gas Water Heater
  • Municipal Trash

Listing and Financial Details

  • The owner pays for water, sewer, real estate taxes
  • Tax Lot 43
  • Assessor Parcel Number 242130400

Community Details

Overview

  • 3 Units

Building Details

  • 2 Vacant Units
  • Income includes apartment rentals
  • Insurance Expense $2,350
  • Trash Expense $350
  • Gross Income $48,600
  • Net Operating Income $38,058

Property Details

Home Type

Multi-Family

Year Built

Built in 1935 | Remodeled in 2015

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Triplex
  • Structure Type: Interior Row/Townhouse
  • Architectural Style: Straight Thru
  • Ownership: Fee Simple
  • Exclusions: PERSONAL PROPERTY OF TENANTS AND ANY PROPERTY LEASED BY TENANTS AND/OR LANDLORD. SNOW BLOWER AND ALL LAWN MOWERS IN BASEMENT.
  • Historic: No
  • Inclusions: ALL APPLIANCES IN "AS IS" CONDITION
  • New Construction: No
  • Year Built: 1935
  • Year Renovated: 2015
  • Automatically Close On Close Date: No
  • Remarks Public: NOTE: Property is hugely over Assessed. The assessment has been appealed and we're awaiting agreement and adjustment by the city...call listing agent for any questions. Example: if the new 2014 assessment should be set at the current list price, the real estate tax amount might be: $419,900 (sales price) X .013998 (2024 City and SD tax rate) = $5,877.76 annual tax). Attention Investors!! Don’t wait! 2015 renovated legal Triplex in the Mantua/University City area; just blocks from UPenn, Drexel, the Zoo, Mann Music Center and Art Museum. Easy to get to/ from with I76, Vine Street Expwy with MLK Drive immediately contiguous and public transportation steps away. All units in the building are similar including: unit layout, color scheme, kitchen amenities, appliances, granite countertops, hardwood floors, etc. Each is a 2bd/1bath units and all renovated from the studs out in 2015 including all new electrical, HWH, appliances, one or more of the forced air Heating units replaced, Fire Alarm system (recent inspection), etc; keep your maintenance costs at a minimum! All utilities separate and paid by the tenants except water/sewer. Common area Washer/Dryer in basement. Buyers' agent responsible for confirmation of real estate taxes given recent Phila re-assessment and current Tax Appeal. Pro Forma numbers reflective of property taxes at approximate sale price as listed. Remaining tenant is long term and under rented at $1,000/month, the difference available to significantly impact future cap rate. Units should rent closer to $1350/mo. Cap Rate based on pro forma projected annual rents @ $1350/mo and 2024 real estate tax rates assuming adjustment by appeal based on sales price. Current tenant(s) are M2M tenants. All of the units are similar. Cap Rate Calc Example: Projected rental income: $1350 x 3 x 12 = $48600. Projected Expenses: $5,877 (Est Taxes after Appeal) + 2350 (Est Ins) + 165 (Ann Rent Lic Fee) + 350 (Ann Trash Fee) + 600 (CAM/util) + 1200 (Water & Sewer) = $10,542. $48,600 - $10,542 = Est $38,058 (NOI) / $419,900 (List price) = 9.06% Cap Rate.
  • Special Features: None

Interior Features

  • Flooring Type: Hardwood
  • Interior Amenities: Upgraded Countertops, Wood Floors, Floor Plan - Open, Dining Area
  • Fireplace: No
  • Wall Ceiling Types: Dry Wall
  • Foundation Details: Brick/Mortar
  • Basement: Yes
  • Total Sq Ft: 2667
  • Living Area Sq Ft: 2667
  • Price Per Sq Ft: 157.44
  • Above Grade Finished Sq Ft: 2667
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 623

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
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Heating Fuel: Natural Gas
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Natural Gas
  • Security: Fire Detection System
  • Sewer/Septic System: Public Sewer
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Association Recreation Fee: No

Schools

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

Lot Info

  • Land Use Code: U50
  • Lot Size Acres: 0.04
  • Lot Dimensions: 17.00 x 99.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1683.00
  • Property Condition: Excellent
  • Year Assessed: 2023
  • Zoning: RM1
  • Zoning Description: Properly zoned as triplex.

Rental Info

  • Existing Lease Type: Month To Month
  • Ground Rent Exists: No
  • Number Of Units Month To Month: 1
  • Owner Pays: Water, Sewer, Taxes - Real Estate
  • Rent Control: No
  • Total Actual Rent: 36000.00
  • Units Leased Count: 1
  • Vacation Rental: No

Tax Info

  • School Tax: 6280.00
  • School Tax Pymnt Freq: Annually
  • Tax Annual Amount: 11446.00
  • Assessor Parcel Number: 242130400
  • Tax Lot: 43
  • Tax Total Finished Sq Ft: 2667
  • County Tax Payment Frequency: Annually
  • Tax Year: 2023
  • Close Date: 07/02/2024

Multi Family

  • Number Of Units Vacant: 2
  • Gross Income: 48600.00
  • Gross Scheduled Income: 48600.00
  • Income Includes: Apartment Rentals
  • Other Units: Unit 1,Unit 2,Unit 3

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 20, 2024
Closed on
Jul 2, 2024
Sold by
Mantua I Properties Llc
Bought by
Mckay Iharsa
Seller's Agent
James Hanning
Bainbridge Realty LLC
Buyer's Agent
Adam Kiliszek
EXP Realty, LLC
List Price
$419,900
Sold Price
$400,000
Premium/Discount to List
-$19,900
-4.74%
Views
26
Current Estimated Value
$430,679

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$30,679
Avg. Annual Appreciation
6.07%
Original Mortgage
$320,000
Outstanding Balance
$317,597
Interest Rate
7.03%
Mortgage Type
New Conventional
Estimated Equity
$111,185

Purchase Details

Closed on
Mar 19, 2015
Sold by
623 N 32Nd Llc
Bought by
Mantua I Properties Llc

Purchase Details

Closed on
Apr 8, 2014
Sold by
Mantua Gardens East Inc
Bought by
623 N 32Nd Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$103,250
Interest Rate
4.37%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 26, 2005
Sold by
Mantua Gardens East Inc
Bought by
Mantua Gardens East Inc
Source: Public Records

Range of Values:

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Average Value
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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

Purchase History

Date Buyer Sale Price Title Company
Mckay Iharsa $400,000 Coretitle
Mantua I Properties Llc $315,000 None Available
623 N 32Nd Llc $147,500 None Available
Mantua Gardens East Inc -- Commonwealth Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mckay Iharsa $320,000
Previous Owner 623 N 32Nd Llc $103,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/02/2024 07/02/24 Sold $400,000 -4.7% $150 / Sq Ft
01/20/2024 01/20/24 For Sale $419,900 -- $157 / 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 $11,446 $493,800 $98,760 $395,040
2024 $11,446 $493,800 $98,760 $395,040
2023 $11,446 $817,700 $163,540 $654,160
2022 $7,835 $817,700 $163,540 $654,160
2021 $7,835 $0 $0 $0
2020 $7,835 $0 $0 $0
2019 $7,541 $0 $0 $0
2018 $2,966 $0 $0 $0
2017 $2,966 $0 $0 $0
2016 $2,938 $0 $0 $0
2015 -- $0 $0 $0
2014 -- $211,900 $17,161 $194,739
2012 -- $17,056 $5,289 $11,767
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2024

    James Hanning

    Bainbridge Realty LLC

    (610) 662-8715

    2 in this area

    3 Total Sales

    James Hanning
    Section Image
  • Adam Kiliszek

    Buyer's Agent in 2024

    Adam Kiliszek

    EXP Realty, LLC

    (570) 807-6238

    2 in this area

    119 Total Sales

    Adam Kiliszek
    Section Image
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Map

Source: Bright MLS

MLS Number: PAPH2313686

Bright MLS

APN: 242130400

Pennsylvania Philadelphia County Philadelphia 19104 Mantua

623 N 32nd St, Philadelphia, PA

This home is located at 623 N 32nd St, Philadelphia, PA 19104 since 20 January 2024 and is currently estimated at $430,679, approximately $161 per square foot. This property was built in 1935. 623 N 32nd St is a home located in Philadelphia County with nearby schools including Mcmichael Morton School, West Philadelphia High School, and Belmont Charter Elementary School.

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