flip philly properties

Another Incredibly Successful Development Story!

/ Jim Onesti, Realtor, Development Expert / Leave a comment
2
1323-41 N Howard Street is just another in our
many developer success stories!
We sold this to one of our builders, it was an off market lot
Never hit the MLS!!
The 21 homes are now being built && we have already pre-sold
13 of the 21 homes!!
howard
Be sure to keep in touch for off market lots, shells, multi’s and fixer uppers.
Jim Onesti & Mike McCann – BHHS Fox & Roach.
215.627.6005 Main or 215.440.2052 Direct
Best way to get in touch: jonesti@mccannteam.com

Build Your Dream Home in the Meredith School District!

/ Jim Onesti, Realtor, Development Expert / Leave a comment
NOT ON THE MLS!

Bella Vista LOT APPROVED for a 4000 sq’ home

Located in the Meredith School District Catchment

Build your dream home! Several comps well above $1,000,000+++
OR build a custom home for a client!!

Click Here For Plans: A  B  C  D  E

For more information contact Jim Onesti. 215.440.2052 or jonesti@mccannteam.com

BHHS Fox & Roach – Mike McCann Team – Main 215.627.6005

MASSIVE Broad Street Property for Sale!

/ Jim Onesti, Realtor, Development Expert / Leave a comment

2221 (2)Gorgeous 5500 + square foot Broad street property that runs street to street with parking. Detached, free standing building!

Limestone and Granite facade! One block from the hospital, next to Starbucks and commercial Broad street strip center at Broad and Jackson. HOT Location with Huge rent potential!!

Roof Deck views of Center City and South Philly, and Stadiums.

Tax abatement submitted/pending!

It’s fully approved and permitted for 6 residential rental units and 2 parking spots (but you can probably fit 4 prkg total).
4–1 bed/1 bath, 1–2 bed/2 bath, 1–2 bed/1 bath.

The property is framed and new plumbing is almost completed, fully permitted….. easy to rent due to hospital located down block and booming navy yard 2221 2 (2)expansion.

Broad Street Subway entrance ½ block away!

Appraised in Feb 2013 for right around $1.1mm, with market rents of $8,400/month ($100,800/year).  If one went with high end finishes, you may be able to push these numbers higher. (appraisal attached)

The owner has other projects he wants to move to and wants to sell. He is asking 725k. It needs another $200k or so to finish but should cash flow very nicely.

Truly an amazing building and rare opportunity!

Plans and multi-tab pro-forma attached..

Below are the potential rental income figures

o    1F: $1250/month (1bdrm/1ba, multi-level with basement living area)

o    1R: $1800/month (2bdrm/1ba)

o    2F: $1250 (large 1bdrm/1ba)

o    2R: $1050 (1bdrm/1ba)

o    3F: $2000 (2brm/2ba, roof deck, multi-level)

o    3R: $950 (smaller 1bdrm/1ba)

o    Parking: 2 spaces x $100/month = $200

o    Totals: $8500/month, $102,000/year

CLICK HERE FOR BUILDING PERMITS!

CLICK HERE FOR PROFORMA!

CLICK HERE FOR 1st & 2nd FL PLANS!

CLICK HERE FOR 3rd & 4th FL PLANS!

For more information contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com – BHHS Realtors 215.627.6005

When We Tell You A Deal is a Home Run You Should Listen!!

/ Jim Onesti, Realtor, Development Expert / Leave a comment

CoverLast year we had a 31 property package of Graduate Hospital homes listed at $8 million.

We estimated the package to be worth $10 million IN AS-IS CONDITION and with value added it would be worth closer to $13 million.

These properties have all recently sold and settled, with most of them in as is condition and most for an average sale price of $400,000++ per property!!

With demand in the Graduate area extremely high and inventory extremely low, this was definitely a once in a lifetime opportunity!!!!

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