philadelphia apartment buildings

Amazing Development Opportunity Just North of Center City Philadelphia!!

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

Close to Center City, there is a rarely offered opportunity in an up and coming location, at a very convenient place for travel to and from the tri state area!

Philadelphia has just announced that there are major development plans in place, located just above Fishtown in the Port Richmond and Bridesburge areas.

The exciting plans include 7 lots that have been fully approved for 7 duplexes, which will allow for 14 units total!  There is also 14-car parking and roof decks!

Take it from me that this is an amazing opportunity.  I am the listing agent for this site and I can assure you that it is a great deal! It is a phenomenal mid to long term investment, the opportunities are endless!

The asking price is $399k for the site…which of course, is negotiable!

Please click the links below to learn more about what the City has planned for the Port Richmond and Bridesburge areas in the future! Also, see the attached site plan and zoning permits. 

Philly Planning Commission releases River Wards draft plan

Porch Richmond Industrial Development Enterprise gains RCO status

Plan to reconstruct and improve I-95 between I-676 and Allegheny interchanges

Coming soon! Kensington local food coop market

Site plan and zoning permit

For more info or to take a tour of the site, contact me today!!
Jim Onesti 215-440-2052 or jonesti@mccannteam.com
BHHS Fox & Roach – 215.627.6005 Main
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4 Amazing Development Opportunities!!

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

Not yet on the MLS

1713 S. 9th Street. Passyunk Square. Huge 2 story corner home with GARAGE, deck, 4 bedrooms and two baths. Needs updating but in great condition! Asking $225k

1318 S Opal, Point Breeze, $79k. Two stories, needs complete renovation.

1320 S Cleveland, Point Breeze, $89k. Two stories, needs complete renovation.

14 lots in Northern Liberties, fully approved for town homes with garages and parking. $150k each!

Contact Jim Onesti for more info. 215.440.2052 or jonesti@mccannteam.com
BHHS Fox & Roach Realtors & The McCann Team. 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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4 Passyunk Square shells for sale… NOT in the MLS

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

Rare Opportunity!!

Four consecutive 2-3 story shells for sale in HOT Passyunk Square area…
11XX Emily street…. Permits included!1132 emily photo
Zoning permits and building permits were issued on 10/29/13 and are currently active.

The building permit is for four single family homes, two stories in height.  Interior renovations, new structure and exterior renovations are all part of the building permit scope.

The zoning permit is for a single family use, which required a variance, and partial demolition of the existing structure with the erection of a 6 foot fence.

The current structure is 33′ tall, and sits on slab with no basement.Pictures below! Resale values for 3-story homes at this location are very strong!!

Asking 149,900 each….Permits included!!
132 emily interior 1132 emily photo 132 emily interior
 

New Philly Rehab Deals!!! February 2014

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

Thank you to all of our clients who keep bringing us great deals!!

New rehab and new construction deals for sale:  cropped-jim-81111-030.jpg

2 lots, street to street, Northern Liberties, $212,500 each, potential resale $700,000 ea. River views,

2 car garages!

Passyunk Square, 2 story fixer upper on the North side of the neighborhood, 100k!! potential resale 325k. HOME RUN

Fishtown, 9 lots, 110k each, Build 9-New Construction homes at a great location in one of the hottest locations in Philadelphia. potential resale 475k each

For more information contact Jim Onesti, Mccann Team, BHHS Fox & Roach Realtors    jonesti@mccannteam.com

#1 Real Estate Team in Philadelphia   ~  Over 600 settled transactions in 2013!! cropped-kit1.jpg

Jim Onesti & The McCann Team Bring You ANOTHER Investor Success Story!

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

1
Just last year we found our developer clients a phenomenal and rarely offered Northern Liberties buy! It consisted of a great piece of land located at 973-75 N 5th and 1004-12 N Orkney Streets.

Not only did we help them find and purchase the site but we also successfully guided them through the zoning and permit process. In addition to our vast development knowledge we also assisted in everything from designing to branding and marketing these homes.

2While in the process of building these seven brand new, astounding new construction homes, we were able to pre-sell six of them- months before completion!!! Our client paid just around $100k per lot and sold them for a whopping $520k to $620k each!

We love working with investors and developers and there is nothing that we don’t know about this business. This is just one of the many amazing success stories that we are able to tell!

If you would like more information about our marketing plan, our vast knowledge and experience or our proven marketing plan and track record contact me today!

3We always have lots and fixer uppers for sale in and around Center City and the surrounding areas. Many of our lots come with zoning permits and approvals.

We would love the opportunity to share your success story so contact me today!

Jim Onesti, The McCann Team Berkshire Hathaway HomeServices
215.440.2052 – jonesti@mccannteam.com