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312 N 40TH ST Philadelphia, PA 19104
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Key Details
Sold Price $615,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 4,324 sqft
Price per Sqft $142
Subdivision Powelton Village
MLS Listing ID PAPH2297268
Sold Date 03/29/24
Style Other
Abv Grd Liv Area 4,324
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $6,990
Tax Year 2022
Lot Size 2,875 Sqft
Acres 0.07
Lot Dimensions 25.00 x 115.00
Property Description
Investor Owner Opportunity! This spacious duplex spans over 4200+ sqft, featuring two units and outdoor space, making it an attractive investment in the heart of University City. Located less than half a mile from both Drexel University and the University of Pennsylvania campuses, this property is strategically positioned for student housing demand.Unit A boasts five bedrooms and two bathrooms, while Unit B offers five bedrooms and three bathrooms. The property stands as a standalone structure with separately metered utilities, ensuring efficiency and convenience. Each unit is equipped with in-unit washers and dryers, kitchens adorned with granite countertops and stainless steel appliances, and a sizable rear yard accessible from Unit A and externally from Unit B.
The investment potential is underscored by the property's current monthly rental income of $4,750. Although currently vacant, this presents a prime opportunity for investors to capitalize on the burgeoning demand for housing in the area. This investment opportunity is situated in a redeveloped area boom, witnessing substantial growth and transformation over the past 8-10 years. Its proximity to both Drexel and Penn universities makes it an attractive choice for students and professionals alike. Convenience is key, with the property just two blocks away from Presbyterian Hospital, the 40th Street Station of the Market-Frankford Line, Penn’s LUCY bus, and the vibrant 40th Street amenities, including restaurants, shops, and a supermarket between Market and Walnut Streets. Transportation is a breeze with easy access to the Bus route 40 and the Drexel bus, both just a half block away. Moreover, the property falls within the night patrol area of Drexel. Don't miss out on this exceptional investment opportunity in a thriving and strategically located University City neighborhood!
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Rooms
Basement Full, Fully Finished
Interior
Interior Features Sprinkler System
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Wood, Tile/Brick
Fireplace N
Window Features Energy Efficient
Heat Source Natural Gas
Exterior
Utilities Available Cable TV Available
Water Access N
Roof Type Flat
Accessibility None
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 061162500
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Pierre Mark Eade • Homestarr Realty