$3,750,000
5542 LARCHWOOD AVE Philadelphia, PA 19143
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$3,750,000
Est. payment /mo
43,500 SqFt
Price Dropped by $500K
5542 LARCHWOOD AVE Philadelphia, PA 19143
UPDATED:
11/19/2024 03:53 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 43,500 sqft
Price per Sqft $86
Subdivision Cobbs Creek
MLS Listing ID PAPH2231770
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $51,721
Tax Year 2023
Property Description
A fantastic opportunity to acquire a premium and well managed portfolio of 25 single-family properties centered in and around the burgeoning Cobbs Creek neighborhood in West Philadelphia. All 25 parcels (22 are occupied and 3 are vacant), are situated in a tight geographic area ideal for management and enhanced economies of scale. In a red hot neighborhood with some under-valued rents and significant capital appreciation opportunity. If desired, enjoy the flexibility to improve and/or spin-off certain assets and hold the rest. Professionally managed package (property manager can remain, at buyer’s option). These 25 townhomes present an advantageous investment opportunity in a rapidly improving West Philadelphia neighborhood, close to amenities, public transportation, Cobbs Creek Trail, and other developments. Inclusive of those developments is a $65 million commitment by the city of Philadelphia, The Cobbs Creek Foundation, and The TGR Foundation (founded by Tiger Woods) to revamp the existing golf course (Philadelphia's oldest course), enhance the public space, and create an educational campus for local youth. The Cobbs Creek Environmental Center has also planned significant improvements. NOTE--24 three-bedroom homes and 1 four-bedroom home. The full 25-property portfolio includes (with their OPA Account #’s): 1410 N Hirst Street, (342327100). 1633 N 60th Street, (342196000). 1847 S 54th Street (512085600). 516 S 59th Street, (032198600). 5355 Irving Street, (603054300). 5513 Irving Street, (604057300). 5542 Larchwood Avenue, (463004200). 5624 Rodman Street, (463031900). 5639 Montrose Street, (463141400). 5642 Broomall Street, (513114000). 5717 Addison Street, (604126500). 5731 Rodman Street, (463029200). 5734 Rodman Street, (463035200). 5745 Addison Street, (604127900). 5752 Pemberton Street, (463072700).5757 Walton Street, (463081300). 5787 Stewart Street, (043219500). 5816 Washington Avenue, (033113800). 5908 Christian Street, (033063200). 5910 Webster Street, (033030300). 6021 Christian Street, (033053800). 6037 Irving Street, (031103100). 6111 Irving Street, (031104700). 6137 Locust Street, (031089100). 629 N Frazier Street, (043062900).
Location
State PA
County Philadelphia
Area 19143 (19143)
Zoning RSA-5
Interior
Hot Water Natural Gas, Other
Heating Other
Cooling Other
Inclusions All appliances.
Heat Source Natural Gas, Other
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 463004200
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
Listed by Jeffrey Block • Compass RE
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