Seller's Agent in 2020
Ryan McManus
Keller Williams Liberty Place
(267) 838-5265
2 in this area
147 Total Sales
709 S American St Philadelphia, PA 19147
Queen Village NeighborhoodEstimated Value: $774,728 - $919,000
--
Bed
3
Baths
2,508
Sq Ft
$329/Sq Ft
Est. Value
Highlights
- Contemporary Architecture
- No HOA
- Central Heating and Cooling System
About This Home
As of March 2020709 South American Street possesses the rare and favorable investor preferred mixture of prime location, size and rental income. As a fully leased triplex in the coveted submarket of Queen Village, this boutique property offers extreme rental upside. Or simply buy and hold and continue collecting cash flow from day one. Each bilevel unit is leased with under market rents. Unit 1 is a 2bd x 1ba leased for 1575 per month located on 1st floor and basement. Unit 2 is a 2bd x 1ba leased for 1575 per month located on 2nd and 3rd floors. Unit 3 is a 1bd x 1ba leased for 1075 per month located on 2nd and 3rd floors. Total annual income is 50,700. Pro forma income is 67,200. The 2bd units should lease for 2000 per month and the 1bd should lease for 1600 per month. Expenses are low. Many original features exist such as hardwood floors and exposed brick. Stately 3 storey appearance boasting curb appeal on a tranquil sunny side street located in the prized Meredith School District, (one of, if not) the most sought after elementary schools in Philadelphia, Pennsylvania. Walk to amenities, shops, restaurants, cafes and bars on SouthStreet, Fabric Row, and in Society Hill. Notable establishments leading Philly s food scene are within just a few short blocks: Serpico, Famous 4th St Deli, Jims Steaks, Lorenzos Pizza, RoyalSushi and Izakaya, Pizzeria Stella, Southwark, Pietros, Hungry Pidgeon, Bistro La Minette and Little Fish BYOB. Also walkable to Bainbridge Green Park, Washington Square Park and SpruceStreet Harbor Park. All units separately metered. Washer dryer combos in each unit. Basement storage for Unit 1.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,563
Year Built
- Built in 1915
Lot Details
- 1,088 Sq Ft Lot
- Lot Dimensions are 17.00 x 64.00
Parking
- On-Street Parking
Home Design
- 2,508 Sq Ft Home
- Triplex
- Contemporary Architecture
- Brick Exterior Construction
- Masonry
Utilities
- Central Heating and Cooling System
- Cooling System Utilizes Natural Gas
- Natural Gas Water Heater
- Public Septic
Listing and Financial Details
- Tax Lot 207
- Assessor Parcel Number 023108200
Community Details
Overview
- No Home Owners Association
- 3 Units
- Queen Village Subdivision
Building Details
- Net Operating Income $35,700
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jun 18, 2021
Sold by
Baddam Lokesh R
Bought by
Baddam Lokesh R and Baddam Lakshmi Bhavani
Current Estimated Value
Purchase Details
Listed on
Nov 22, 2019
Closed on
Mar 11, 2020
Sold by
Magarick Harvey C
Bought by
Baddam Lokesh R
Seller's Agent
Ryan McManus
Keller Williams Liberty Place
Buyer's Agent
Judith Conte
Rogues Real Estate
List Price
$699,999
Sold Price
$700,000
Premium/Discount to List
$1
0.0%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.41%
Original Mortgage
$525,000
Outstanding Balance
$469,100
Interest Rate
3.4%
Mortgage Type
New Conventional
Estimated Equity
$372,974
Purchase Details
Closed on
Aug 30, 1978
Bought by
Magarick Harvey G
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 |
|---|---|---|---|
| Baddam Lokesh R | -- | None Available | |
| Baddam Lokesh R | $700,000 | World Wide Land Transfer Inc | |
| Magarick Harvey G | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Baddam Lokesh R | $525,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/13/2020 03/13/20 | Sold | $700,000 | 0.0% | $279 / Sq Ft |
| 02/12/2020 02/12/20 | Pending | -- | -- | -- |
| 02/07/2020 02/07/20 | For Sale | $699,999 | 0.0% | $279 / Sq Ft |
| 12/20/2019 12/20/19 | Pending | -- | -- | -- |
| 12/13/2019 12/13/19 | For Sale | $699,999 | 0.0% | $279 / Sq Ft |
| 12/02/2019 12/02/19 | Pending | -- | -- | -- |
| 11/22/2019 11/22/19 | For Sale | $699,999 | -- | $279 / 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 | $7,968 | $789,000 | $157,800 | $631,200 |
| 2024 | $7,968 | $789,000 | $157,800 | $631,200 |
| 2023 | $7,968 | $569,200 | $170,700 | $398,500 |
| 2022 | $7,968 | $569,200 | $170,700 | $398,500 |
| 2021 | $9,563 | $0 | $0 | $0 |
| 2020 | $9,563 | $683,200 | $204,938 | $478,262 |
| 2019 | $8,824 | $0 | $0 | $0 |
| 2018 | $5,340 | $0 | $0 | $0 |
| 2017 | $5,340 | $0 | $0 | $0 |
| 2016 | $5,340 | $0 | $0 | $0 |
| 2015 | $37,276 | $0 | $0 | $0 |
| 2014 | -- | $381,500 | $44,177 | $337,323 |
| 2012 | -- | $41,664 | $4,218 | $37,446 |
Source: Public Records
Agents Affiliated with this Home
-
Ryan McManus
-
Judith Conte
J
Buyer's Agent in 2020
Judith Conte
Rogues Real Estate
(215) 337-3435
2 in this area
12 Total Sales
Map
Source: Bright MLS
MLS Number: PAPH852446
APN: 023108200
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