4714 Griscom Street, Philadelphia, PA 19124-5815 $324,900
Interior Sq. Ft: 2,528
Acreage: 0.05
Age:84 years
Taxes: $4,685
Design/Type:
Detached
Description
Rare opportunity to finish a building with 13%++ cap rate!! Remodeling is currently underway and owner is looking to sell at any stage of the rehab. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as a group-housing of 12 bedrooms. ARV $850k++ If the buyer chooses to finish the property as 5 apartments building then the projected rents (conservative forecast): Apt1- 2BRS/1BA- potential rent $1,450 Apt2- 2BRs/1BA- access to back yard- potential rent $1,500 Apt3- 2BRs/1BA- potential rent $1,450 Apt4- 2BRs/1BA- potential rent $1,450 Apt5- 2BRs/1BA- potential rent $1,450 If the buyer chooses to finish the property as a single home, it can be used as a group-housing rental of 10-12 bedrooms, contracted with organizations that typically price $700+ per bedroom per month thus will pay over $7k/mo rent . In any configuration, the total potential income (conservative estimate) $7,300/mo or $87,600 annually! Current status- -Architectural planning and design- completed (drawings are attached here) -Framing - completed -New windows installation- completed -Rough plumbing- completed -Rough electricity- completed -Insulations- in progress Next steps in the project- need to be done or HVAC installation o Sheetrocks installation o Painting o Flooring installation o kitchens and bathrooms The remaining work to complete the building is estimated between $120-160k.
Home Assoc: No
Condo Assoc: No
Basement:
Pool: No Pool
Features
Utilities
Heating - None, None, None, None, Hot Water - None, Public Water, Public Sewer
Garage/Parking
Off Street
Exterior
Brick/Mortar Foundation, Masonry
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Public Elementary (104 schools)
Public Middle (24 schools)
Public High (40 schools)
Private (74 schools)
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This report is a detailed community overview for Philadelphia (19124), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 37
- Average salary of people in this community: $35,625
Community Summary
- Population Density (ppl / mile): 14,319
- Household Size (ppl): 3.09
- Households w/ Children: 101%
Housing Inventory
- Owned: 12,223 (47.9%)
- Rented: 10,386 (40.7%)
- Vacant: 2,883 (11.3%)
- Total: 25,492
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 9.3%
- Some High School: 14.7%
- High School Graduate: 44.0%
- Some College: 14.9%
- Associate Degree: 6.5%
- Bachelor's Degree: 7.2%
- Graduate Degree: 3.4%
Income by dollar range
Median Income: $33,611
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $747
- One Bedroom: $748
- Two Bedroom: $910
- Three Bedroom: $1,045
- Four Bedroom: $1,188
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Contact Information
Schedule an Appointment to See this Home
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or call me now at 302-234-6038
Listing Courtesy of: BHHS Fox & Roach-Haverford , (610) 649-4500
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Information Deemed Reliable But Not Guaranteed.
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Listing data as of 11/25/2024.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.