2303 Frankford Ave, PHILADELPHIA

$550,000

0 Beds
0 Baths
2,592 Sqft
.03 Acres
0 Garages

Fantastic opportunity priced to sell in the middle of exploding Frankford Avenue corridor. New construction all around. Millennials and developers are filling in every gap and storefront in this exciting and lively area of 24/7 live work play Fishtown. Zoned CMX 2 this property is currently a bank branch on the ground floor with offices on floors two and three. Zoning allows for another story addition by right. The highest and best use of this property is to add another story to the property and rehab resulting in three(3) large two(2)bed apartments on floors 2-4 and retail space on the ground floor. Pricing takes into consideration a generous rehab cost and immediate owners equity once rehab is complete. Basement is already over 7 foot clearance. Just apply for the permits and start adding equity! Make an offer now as this property is already receiving interest. Renovations will qualify property for a 10 year tax abatement. Proforma CAP Rate 7.5% based on renovations and 1 story addition

Essential Information
MLS® #PAPH801738
Price$550,000
Bathrooms0.00
Square Footage2,592
Acres0.03
Year Built1950
TypeMulti-Family
Sub-TypeQuad, Over Storefront
StyleStraight Thru
StatusActive
Community Information
Address2303 Frankford Ave
Area19125
CityPHILADELPHIA
CountyPHILADELPHIA-PA
StatePA
Zip Code19125
Interior
HeatingHot Water
CoolingCentral A/C
# of Stories3
Exterior
Exterior FeaturesOther
District

THE SCHOOL DISTRICT OF PHILADELPHIA

Additional Information
ZoningCMX2
Listing Details
OfficeAmerican Heritage Realty
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Listing information last updated on September 16th, 2019 at 8:00am EDT.