For more information regarding the value of a property, please contact us for a free consultation.
7120 GERMANTOWN AVE Philadelphia, PA 19119
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $515,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Mt Airy
MLS Listing ID PAPH2221310
Sold Date 12/20/24
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $3,689
Tax Year 2024
Lot Size 1,561 Sqft
Acres 0.04
Lot Dimensions 17.00 x 95.00
Property Description
Great investment opportunity in Mt Airy. This Mixed use triplex can be a great opportunity for a savvy buyer or investor. The property next door at 7122 Germantown Ave is also being sold at $700k each building. Both ground floor commercial spaces have tenants. the other floors left unoccupied. Previous tenants were medical practitioners that used the entire building. The Condos across the street at 7111 Germantown are selling for $540,000 and up. This is a chance to create a modern living space that rival the condos without having association fees plus gaining cash flow from the other apartments. If you take the investor approach, the building is zoned Cmx2.5 you can build additional floors, and get more units. Cmx 2.5 allows a developer to build up to 55ft in height which will equal to 5 floors on each building.
This property would also work well for a cafe or coffee shop owner that can take advantage of the traffic and residential support and strength of this community. Seller is open to seller financing, and will hold the note.
The possibilities are endless, Bring your vision and creativity.
Location
State PA
County Philadelphia
Area 19119 (19119)
Zoning CMX25
Interior
Hot Water Natural Gas
Cooling None
Heat Source Natural Gas
Exterior
Garage Spaces 1.0
Water Access N
Accessibility None
Total Parking Spaces 1
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871280250
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Conventional, Cash, FHA 203(k), Seller Financing
Listing Terms Conventional, Cash, FHA 203(k), Seller Financing
Financing Conventional,Cash,FHA 203(k),Seller Financing
Special Listing Condition Standard
Read Less
Bought with Sonja S Wayns • Diversified Realty Solutions