Address
1511 W Allegheny Avenue Philadelphia, PA
Price
$ 200,000
Property Attributes
- MLS#PAPH931708
- TypeLand
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19132
- Zip19132
- StyleResidential
- Taxes343
- Price$ 200,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size5,663 SqFt
Listing Provided Courtesy Of:
Keller Williams Philly
Property Description
Rare opportunity to sink your teeth into a large development project within the hottest 5 blocks of the North Philly corridor! The package includes 1511 W Allegheny, 1509 W Allegheny an income producing 6 unit building and 1510 W Hilton (if seller agrees to the sale). All parcels are owned by individual owners but willing to package together. There is massive upside potential for this project through the Qualified Opportunity Zone tax benefits! Real estate investments made by individuals through special funds in these new zones can defer or eliminate federal taxes on capital gains and avoid future tax penalties often associated with real estate investing. One hundred billion dollars in capital are expected to spur development in these zones. Over 1.8M SF are planned in this area alone, spurred by the Amtrak North Philadelphia redevelopment led by HFZ Capital of NYC. Tenants are the family of the owner so rent has been below market rates. Going rates for 2 beds are 1600 plus and for 1 beds 1200+. The project will have neighhood support from the RCO. Demo 1509 W Allegheny and build 28-32 units with rear parking on 1510 W Hilton. New construction triplexes are selling for 600k+. There is a major 100 million dollar plus expansion project planned for the septa station nearby and over 400 units for construction have been approved and are in the queue. All occupants have agreed to move out prior to the sale or stay if desired for 1509 W Allegheny.
| Price History | |
|---|---|
| 9/3/2020 | Listed $235,000 |
| 9/15/2020 | 7% - $219,000 |
| 10/31/2020 | 9% - $200,000 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| Association Y/N | No |
| County | PHILADELPHIA |
| Current Use | Residential |
| High School District | THE SCHOOL DISTRICT OF PHILADELPHIA |
| MLS Area | 19132 (19132) |
| Ownership | Fee Simple |
| Possession | Immediate |
| Price Per Sq Ft | 35.56 |
| Property SubType | Land |
| Property Type | Land |
| Real Estate Owned Y/N | No |
| Sewer | Public Septic |
| Tax Annual Amount | 343.0 |
| Tax Lot | 42 |
| Tax Year | 2020 |
| Vacation Rental Y/N | No |
| Water Access Y/N | No |
| Zoning | RSA3 |
Exterior Features
| Lot Dimensions | 53.70 x 104.74 |
|---|---|
| Lot Size Acres | 0.13 |
| Lot Size Source | Assessor |
| Lot Size Square Feet | 5624.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Water Source | Public |
| Water View Y/N | No |
| Waterfront Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Zip Code Average in 19132
Price
Taxes
Visits
Walkscore
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agreement.
Based on information from Sussex County Association of REALTORS®, Inc., which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Sussex County Association of REALTORS®, Inc. may not reflect all real estate activity in the market.
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