Price Reduction
Address
417 W Queen Lane, Philadelphia, PA
Price
$ 625,000
Property Attributes
- MLS#PAPH2357994
- TypeMulti-Family
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19144
- NeighborhoodGermantown
- Zip19144
- Style
- Year Built1900
- Taxes$ 4497
- Price$ 625,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.13 Acres
Data Source:
Bright MLS
Property Description
Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25x230 lot lot, generating approximately $68,000 annually with $12,000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!
| Price History | |
|---|---|
| 5/23/2024 | Listed $675,000 |
| 6/6/2024 | 8% - $625,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Other |
| Cooling | Window Unit(s) |
| Possession | Negotiable |
| Zoning | RSA5 |
| Architectural Style | Other |
| Construction Materials | Masonry |
| Exclusions | Tenant's Property |
| Year Built | 1900 |
| Property SubType | Other |
| Tax Year | 2022 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Accessibility | None |
| County | PHILADELPHIA |
| New Construction | No |
| Property Type | Multi-Family |
| Subdivision Name | GERMANTOWN (WEST) |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Total Rooms | 7 |
| Status | ACTIVE |
| Directions | Wissahickon Ave to W Queen Lane |
| ModificationTimestamp | 2024-06-06T11:32:54 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 2.5 |
| NumberOfUnitsTotal | 4 |
| MLS Area | 19144 (19144) |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 5773.00 |
| Tax Assessed Value | 321300.0 |
| Waterfront Y/N | No |
| Street Name | QUEEN |
| Tax Annual Amount | 4497.0 |
| Structure Type | Detached |
| Single Room Units Count | 7 |
| Price Per Sq Ft Total AG | 136.91 |
| Acceptable Financing | Cash,Conventional,FHA 203(k) |
| Vacation Rental Y/N | No |
| Total SQFT | 4565 |
| Days on Market | 15 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 3 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Basement | Unfinished |
| Hot Water | Electric |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | LANE |
| Central Air Y/N | No |
| LivingAreaSource | Assessor |
Exterior Features
| Pool | No Pool |
|---|---|
| Water Source | Public |
| Type of Parking | On Street |
| Land Use Code | U30 |
| Foundation Details | Concrete Perimeter |
| Water View Y/N | No |
| Lot Dimensions | 25.00 x 231.00 |
| Lot Size Acres | 0.13 |
| Lot Size Source | Assessor |
| Land Assessed Value | 64260.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 19144
Price
Taxes
Visits
Year Built
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