PA > Philadelphia > Spring Garden
Philadelphia, PA 19130,649 N 15TH ST
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Philadelphia, PA 19130,649 N 15TH ST
Philadelphia, PA 19130,649 N 15TH ST
Philadelphia, PA 19130,649 N 15TH ST
Philadelphia, PA 19130,649 N 15TH ST
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Jordan Muirhead

Jordan Muirhead

Muirhead Real Estate Services, LLC

+1(703) 615-8732
Listed by Joseph M. Loonstyn Jr. • Scope Commercial Real Estate Services, Inc.
$ 1,250,000
Est. payment /mo
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Under Contract

649 N 15TH ST Philadelphia, PA 19130

4,748 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Under Contract

Purchase Type For Sale

Square Footage 4,748 sqft

Price per Sqft $263

Subdivision Spring Garden

MLS Listing ID PAPH2439662

Year Built 2017

Annual Tax Amount $13,939

Tax Year 2025

Lot Size 2,442 Sqft

Acres 0.06

Lot Dimensions 5.00 x 195.00

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

SCOPE Commercial Real Estate Services, LLC ("SCOPE") is pleased to present the opportunity to acquire 649 N 15th Street, a newly renovated 6 unit multifamily asset with three parking spaces, located in Philadelphia's vibrant Spring Garden neighborhood.

This 4,748-square-foot property, situated on a 2,500-square-foot lot, underwent comprehensive renovations in 2021 and has five years remaining on its tax abatement. The building features six residential units, all thoughtfully designed with high-end finishes, including high ceilings, hardwood flooring, central air, and large windows that allow natural light to flood the interiors.

649 N 15th Street is strategically located within the Spring Garden neighborhood, offering residents convenient access to a variety of amenities. Public transportation options are abundant, with the Girard Station of the Broad Street Line and multiple SEPTA bus routes within walking distance, facilitating easy commutes to Center City and other parts of Philadelphia. Additionally, the property is close to Fairmount Avenue, known for its eclectic mix of restaurants, cafes, and shops, enhancing the urban living experience.

Value-Add Potential: An analysis of the rent roll reveals a strong value-add opportunity. By increasing rents to market rates, the property could generate an additional 7.6% increase in rental income, presenting a compelling upside for investors.

This offering presents a unique opportunity to acquire a stabilized, high-quality asset in one of Philadelphia's most desirable neighborhoods, with significant upside potential through rental growth and continued strong demand for well-appointed residential units.

Location

State PA

County Philadelphia

Area 19130 (19130)

Zoning RM4

Interior

Hot Water Natural Gas

Heating Central

Cooling Central A/C

Heat Source Natural Gas

Exterior

Garage Spaces 3.0

Water Access N

Accessibility Other

Total Parking Spaces 3

Garage N

Building

Sewer Public Septic, Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 084087896

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

Bright MLS (BMLS)
agent

Jordan Muirhead

Agent | License ID: 0225206725

+1(703) 615-8732

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649 N 15TH ST

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