5501 WALNUT STREET

PHILADELPHIA, PA, 19139

$1,000,000

$1,000,000
Active
Active
 - For Sale
property_type
Multi-family
calendar
Built 1925
Investor Alert! 10 Cap Development opportunity on high traffic commercial corridor. This rare development opportunity is in an up and coming area of West Philadelphia. This is an enormous corner property ripe for development and located right near the 56th St Terminal for the Market Frankford Train Line, 2.5 miles from 30th St Station and I-76 entrance. The property is currently being used as an auto repair shop which has a 7,494 Sq/Ft lot with a 1,815 Sq/Ft Garage/Office zoned CMX-2. By right you are able to build: Gross Square footage: 23,980 Sq/Ft Total Units: 15 units Total Acquisition and Construction: Purchase Property: $1,000,000 Total Soft Cost: $50,000 Total Project Costs: $2,697,750 Total Acquisition and construction: $3,747,750 Cap Rate on Cost: Net Income: $390,597.46 Total Acquisition and construction: $3,747,750 Capitalization Rate of Return on Cost: 10.422%
MLS® ID:
PAPH2090130
Updated:
9/29/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central A/C
Heating
Forced Air

Exterior/Building Features

Lot Size
7,494 ft² lot
Exterior Features
Above Grade, Below Grade
Architectural Style
Other
Sewer
Public Sewer

School Information

School District
THE SCHOOL DISTRICT OF PHILADELPHIA

Other Property Details

Area Name
19139 (19139)
Taxes
$1300.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
PHILADELPHIA
Water Source
Public
Pool
No
Zoning
CMX2
Contact