1106 Pine St

Philadelphia PA 19107

0.04 ac.

Multi-Family

Daniel Kim, last sold this property on 17 October 2022 after 409 days on market.

Overview

Now available in Washington Square West, on the historic Antique Row, is this Value-Add, Mixed-Use building situated directly across from Louis Kahn Park. This building sits on a lot that stretches street-to-street (Pine to Waverly) and comprises of four (4) total units; one (1) commercial unit with excellent street visibility, and three (3) one bedroom units. One of those units aka the "owner's unit" is in the rear of the first floor and has its own private entrance, leading out to the two (2) car driveway in the back. The next owner can cosmetically renovate each unit and also charge $250 per parking spot to increase the NOI (Net Operating Income). Unit 1R aka Owner's Unit is occupied by Landlord, but was rented for $1,200/month. Unit 2F is currently rented for $1,250/month, but will be increased to $1,295/month effective 9/1/21. Unit 2R is currently rented for $1,225/month but will increase to $1,325/month effective 10/1/21. This building is not historic so there are multiple opportunities to renovate, whether it's an over-build, adding a floor/addition on the back, or a full demo. Building is being sold AS-IS.

Features

0.04 ac. lot size

Multi-Family

Estimated Value

We need at least 3 similar multi families sold in Philadelphia over the last 12 months.

Property history for 1106 Pine St

2022

Sold

Undisclosed

17 Oct 2022 by Daniel Kim, of Keller Williams Philly

2019

Sold

$860,000

29 Jul 2019 by James Labonski, of BHHS Fox & Roach-Center City Walnut

2019

Sold

$860,000

29 Jul 2019 by James Labonski

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