$975,000
2214 SOUTH ST Philadelphia, PA 19146
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$975,000
Est. payment /mo
2,736 SqFt
Pending
2214 SOUTH ST Philadelphia, PA 19146
UPDATED:
11/14/2024 07:48 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Square Footage 2,736 sqft
Price per Sqft $356
Subdivision Graduate Hospital
MLS Listing ID PAPH2415958
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $9,562
Tax Year 2024
Lot Size 1,200 Sqft
Acres 0.03
Lot Dimensions 16.00 x 75.00
Property Description
On behalf of Ownership, GREA is pleased to exclusively offer the opportunity to acquire the fee simple interest in 2214 South Street located in the Graduate Hospital section of Southwest Center City Philadelphia. The property comprises 4 apartment units with (2) studio and (2) one-bedroom floor plans. In addition, there is ±1,000 square feet of commercial space on the ground floor occupied by Falafel Time, a popular restaurant featuring quick service dishes with a Middle Eastern twist.
The South Street property presents new ownership with the opportunity to perform a value-add renovation plan to the apartment units and common hallways to increase rents. The property would then be repositioned to a luxury apartment product that attracts young professionals looking for proximity to Center City Philadelphia at an affordable price point.
In the middle of it all, the property serves a growing tenant base looking for a location surrounded by restaurants, cafes, boutique shops, and nightlife. Tenants can run, walk, or ride their bikes on the popular Schuylkill River Trail, access University City via the South Street Bridge, or stroll into Center City in minutes.
The property is located minutes from major highway routes such as Interstates 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are a short walk into Center City and University City, home to major employers such as Comcast, Aramark, Penn Medicine, CHOP, the University of Pennsylvania, and Drexel University.
2214 South Street provides new ownership with the prospect of acquiring a quality, mixed-use property that both has and will continue to perform well into the future.
The South Street property presents new ownership with the opportunity to perform a value-add renovation plan to the apartment units and common hallways to increase rents. The property would then be repositioned to a luxury apartment product that attracts young professionals looking for proximity to Center City Philadelphia at an affordable price point.
In the middle of it all, the property serves a growing tenant base looking for a location surrounded by restaurants, cafes, boutique shops, and nightlife. Tenants can run, walk, or ride their bikes on the popular Schuylkill River Trail, access University City via the South Street Bridge, or stroll into Center City in minutes.
The property is located minutes from major highway routes such as Interstates 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are a short walk into Center City and University City, home to major employers such as Comcast, Aramark, Penn Medicine, CHOP, the University of Pennsylvania, and Drexel University.
2214 South Street provides new ownership with the prospect of acquiring a quality, mixed-use property that both has and will continue to perform well into the future.
Location
State PA
County Philadelphia
Area 19146 (19146)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871136650
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by Moshe Adika • TCS Management, LLC
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