PA > Philadelphia > Mt Airy (East)
Philadelphia, PA 19119,16 E SPRINGER ST
Philadelphia, PA 19119,16 E SPRINGER ST
Philadelphia, PA 19119,16 E SPRINGER ST
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Listed by John P O'Connell • Elfant Wissahickon-Chestnut Hill
$750,000
Est. payment /mo
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5,000 SqFt
Under Contract

16 E SPRINGER ST Philadelphia, PA 19119

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Michelle McMaster

Michelle McMaster

+1(856) 335-5586

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Under Contract

Purchase Type For Sale

Square Footage 5,000 sqft

Price per Sqft $150

Subdivision Mt Airy (East)

MLS Listing ID PAPH2509682

Style Victorian,Other

Abv Grd Liv Area 5,000

Year Built 1890

Annual Tax Amount $9,970

Tax Year 2024

Lot Size 2,783 Sqft

Acres 0.06

Lot Dimensions 35.00 x 79.00

Property Sub-Type Detached

Source BRIGHT

Property Description

Beautiful, unique 1880's grain mill building fully renovated and converted into three (3) spacious two-bedroom, one bath apartments with a huge adjoining/attached workshop/warehouse/studio space with driveway. Located in the desirable Mt. Airy neighborhood of Philadelphia, all three apartments are thoughtfully and fully renovated, each featuring the unique exposed original wood beams from the grain mill and many large windows in each unit that give great natural light in every area of the space. Each apartment is approximately 1,200 SF with open floor plans, in excellently maintained condition, with central HVAC, in-unit private laundry, and wood plank flooring. All utilities are separated - tenants pay HVAC, electric, gas, hot water. The bonus large commercial-grade (owner-occupied) workshop space has massive potential, with an estimated projected rent of at least $1,500/month. The workspace has a concrete slab floor, high 13' ceiling height, and a large overhead garage door and is very secure. Gross yearly rental income ($72,000) includes projected garage/studio space rent of $1,500 per month, making this a fabulous investment or even potentially a mixture of an owner-occupied situation. This is a cash-flow positive property that is in great condition, with all systems (plumbing, electric, etc.) fully replaced and modernized, low maintenance, and easy renting in a top neighborhood with high demand from an excellent rental pool. The perfect opportunity for both new and seasoned investors seeking a stable, income-generating multifamily property in a prime location near a popular commercial strip with a grocery store, restaurant, cafe, retail, and a bakery just a half block away. Truly unlike any other triplex in the area with its original charm that has been lovingly maintained during the current owners' 40+ years of ownership.
24 HOUR NOTICE required for showings due to the property being fully occupied by excellent tenants. All showings through agent.

Location

State PA

County Philadelphia

Area 19119 (19119)

Zoning CMX2

Rooms

Basement Full

Interior

Interior Features Combination Kitchen/Living, Combination Dining/Living, Ceiling Fan(s), Floor Plan - Open, Kitchen - Eat-In, Kitchen - Island

Hot Water Natural Gas

Heating Forced Air

Cooling Central A/C

Flooring Hardwood, Wood

Inclusions All Appliances

Equipment Dishwasher, Dryer - Gas, Exhaust Fan, Oven/Range - Gas, Range Hood, Refrigerator, Washer, Washer/Dryer Stacked

Fireplace N

Window Features Double Hung

Appliance Dishwasher, Dryer - Gas, Exhaust Fan, Oven/Range - Gas, Range Hood, Refrigerator, Washer, Washer/Dryer Stacked

Heat Source Natural Gas

Exterior

Parking Features Additional Storage Area, Garage - Side Entry, Oversized, Inside Access

Garage Spaces 8.0

Water Access N

Accessibility None

Attached Garage 6

Total Parking Spaces 8

Garage Y

Building

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Victorian, Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 221188205

Ownership Fee Simple

SqFt Source Assessor

Security Features Fire Detection System

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Bright MLS (BMLS)

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agent

Michelle McMaster

Broker | License ID: 1542221

+1(856) 335-5586

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16 E SPRINGER ST

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