21XX Federal St
Prime Point Breeze location!
2 Story Shell
Contact Jim Onesti for more info!
215.440.2052 or email@example.com
BHHS Fox & Roach 215.627.6005
2209-15 League Street. Graduate Hospital!! 3 continuous lots and a shell. $675k
22XX Greenwich, Point Breeze – Coming soon! – $45k
Francisville Lots: 833-835 N 15th Street + 837 N 15th Street + 1437 Parrish Street
(ZONED IRMX which allows multi-family with NO commercial requirements!!!)
833-835 N 15th St – $119,000.00 – 837 – $89,000.00 – 1437 Parrish – $99,000.00
For more information or to make an offer today contact
Jim Onesti 215.440.2052 or firstname.lastname@example.org
BHHS Fox & Roach, McCann Team 215.627.6005 Main
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 email@example.com
BHHS Fox & Roach Realtors & The McCann Team. 215.627.6005
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 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
For more information contact Jim Onesti 215.440.2052 or firstname.lastname@example.org – BHHS Realtors 215.627.6005
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.
What would the net fiscal impact be of a newly constructed residential development that was built under the abatement?
The abatement gives buyers of a new residential property a 10-year break on real estate taxes.
The policy has been considered a success. But critics say it siphons revenue away from the city and school district, benefits developers and caters to the rich.
To get an answer, Westrum and Gillen analyzed Westrum’s Brewerytown Square, a development of 144 market-rate townhouses at 31st and West Thompson streets.
Westrum wouldn’t have gone forward with the project without the abatement. It was a fringe area when he started the project and one of the biggest selling points was the tax break.
When Gillen and Westrum drilled down on Brewerytown Square, they concluded that for every $1 abated, the city took in $2 in tax revenue from other sources directly related to the project. It also found that 47 percent of its new owners came from out of the city.
“So, not only did the city get back the $1 that it forewent from the abatement, but it also received an additional $1 in revenue from other sources, due to the economic activity and new residents associated with Brewerytown Square’s development,” said a report on their analysis.
The debate over the abatement is expected to continue during the upcoming budget session and this report will likely play a role.
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