Jennifer Chino
Monument Sotheby's International Realty
jennifer@stahleythompson.com +1(410) 941-70094,748 SqFt
4,748 SqFt
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,748 sqft
Price per Sqft $263
Subdivision Spring Garden
MLS Listing ID PAPH2439662
Originating Board BRIGHT
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 Description
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, which expires in 2029. 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 2.0
Water Access N
Accessibility Other
Total Parking Spaces 2
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
