PA > Philadelphia > Bella Vista
Philadelphia, PA 19147,811/819 S 11TH ST
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Philadelphia, PA 19147,811/819 S 11TH ST
Philadelphia, PA 19147,811/819 S 11TH ST
Philadelphia, PA 19147,811/819 S 11TH ST
Philadelphia, PA 19147,811/819 S 11TH ST
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Leonard Tehrani

Leonard Tehrani

+1(610) 324-1503
$ 1,450,000
Est. payment /mo
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811/819 S 11TH ST Philadelphia, PA 19147

5,259 SqFt

UPDATED:

11/19/2024 05:19 PM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 5,259 sqft

Price per Sqft $275

Subdivision Bella Vista

MLS Listing ID PAPH2419812

Originating Board BRIGHT

Year Built 1915

Annual Tax Amount $17,412

Tax Year 2025

Lot Size 1,360 Sqft

Acres 0.03

Lot Dimensions 16.00 x 85.00

Property Description

Invest in your future with this pair of fully occupied, cash-flowing triplexes in the popular Bella Vista/Italian Market neighborhood of Center City. The owners are ready to retire and pass on their success to you. This listing reflects the price/data for 811 & 819 S 11th Street- 6 total units in 2 triplexes. [A 3rd triplex is available for sale at 1182 S 11th and can be added to the package for $875,000.] With a 99% occupancy rate spanning 3 to 17 years, make your first investment an “easy win,” or add another solid multi-family building(s) to your portfolio. Either way- it’s a win. The tenants are happy, love the location, and are paying near or at-market rents, so you don’t have to worry about making dramatic changes after you buy. Plus, there’s potential to increase your earnings by renting out additional storage in 2 of the 3 basements to the tenants or someone local who needs extra storage space (or use it for yourself!). You can also do some modest upgrades when units turnover and increase the rents year after year. Each tenant in each unit pays for their gas and electric (separate utilities & mechanicals- yea!). The landlord only pays for water for the 3 buildings and common electric in 2 of the 3 buildings. All units have the required sprinkler systems, RM1 Zoning, active rental licenses, and Lead-Free (811) or Lead-Safe (819 & 1182) Certificates from the city. Details about the buildings: 811 S 11th: Gross rent is $5550/mo over three 2 bed/1 bath flats. Each unit has C/A, private outdoor space, and a storage cage in the back portion of the basement. Units 1 & 3 have in-unit laundry. Unit 2 uses the laundry in the basement. The front part of the basement is available and easily used for additional storage for you or someone else. 819 S 11th: Gross rent is $4500/mo for two 2-bed/1-bath flats and one 1-bed/1-bath flat. The first floor has outdoor space and access to an extra basement room that is finished, plus exclusive access to the unfinished portion of the basement. Bilco access to the basement is temporarily closed shut but could be accessed if needed down the road. Each unit has in-unit laundry. Tenants use window units for cooling. The opportunity here is perfect- cash flow right out of the gate, and plan to make strategic value-adds along the way to increase your profit!

Location

State PA

County Philadelphia

Area 19147 (19147)

Zoning RM1

Interior

Hot Water Natural Gas, Electric

Heating Baseboard - Electric, Forced Air

Cooling Central A/C, Window Unit(s)

Flooring Ceramic Tile, Wood, Carpet

Inclusions All Refrigerators, washers, & dryers

Heat Source Natural Gas, Electric

Exterior

Waterfront N

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

Elementary Schools Fanny Jackson Coppin

Middle Schools Fanny Jackson Coppin

High Schools Furness Horace

School District The School District Of Philadelphia

Others

Tax ID 022315300

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, VA

Listing Terms Cash, Conventional, VA

Financing Cash,Conventional,VA

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Stacy L Sanseverino • KW Empower

Leonard Tehrani

Associate Broker, Team Leader CEO | License ID: AB069180

+1(610) 324-1503

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811/819 S 11TH ST