1631 Wallace Street
$858,000
3
3
3,660
3,660
$234
Closed 7/19/21
Description
Rare opportunity to own an income producing mixed-use building in the heart of the Spring Garden - Art Museum Area with 2-CAR PARKING and a private garden. Just two blocks south of bustling Fairmount Ave; the primary retail & restaurant corridor in the neighborhood. Located on the corner of 17th and Wallace Street. Three exposures and soaring 11 ft plus ceilings (original plaster moldings and tile) provide an abundance of natural light. This property consists of two residential apartments and one...Rare opportunity to own an income producing mixed-use building in the heart of the Spring Garden - Art Museum Area with 2-CAR PARKING and a private garden. Just two blocks south of bustling Fairmount Ave; the primary retail & restaurant corridor in the neighborhood. Located on the corner of 17th and Wallace Street. Three exposures and soaring 11 ft plus ceilings (original plaster moldings and tile) provide an abundance of natural light. This property consists of two residential apartments and one commercial space all with central A/C. The commercial and residential tenants each have their own entrance. All units are separately metered. Access to the 2-car parking and garden are through an exterior gated entrance on 17th Street or through the rear exit of the commercial unit. Spectacular first floor commercial space with half bath. Most recently occupied by a barbershop/salon and cafe prior to that. Exceptional potential to customize this space to your aesthetic or allow a new tenant to outfit for their needs. The commercial tenant has in-unit access to the unfinished basement providing an additional 1,200 sq ft of storage space. Residential tenants enter through a private entrance on 17th Street. Unit #2 (currently owner occupied) is a spacious 1 bedroom, 1 bath flat with in-unit washer/dryer and an amazing open living concept. An additional bedroom could be added to create a 2 bed, 1 bath apartment increasing the rent (projected rent as-is: $1,650/mo). Enter unit #3 on the second floor into a private foyer and up one flight of steps awaits another generously sized apartment. This 2 bed, 1 bath residence spans the entire third floor and overlooks the private garden from the living and dining area and has Center City skyline views from the larger southern facing bedroom. In-unit washer/dryer. Unit #3 is rented significantly under market value at $1,700/mo. Projected rent for this unit is $2,150/mo. Prime location. A short walk to restaurants, retail, cafes, and much more. 5 minute drive to Rittenhouse Square. Convenient transit options including the Broad Street Line.
Listing Agents
Property Details for 1631 Wallace Street
Tax ID Number
871074900
OwnershipFee Simple
HOANo
Structure TypeEnd of Row/Townhouse
StyleOther
WaterfrontNo
GarageNo
Expected On Market Date04-21-2021
LISTING UPDATED: 05/06/2022 03:02 PM
Property Details for 1631 Wallace Street
Status | Closed |
---|---|
MLS # | PAPH1006570 |
Days on Market | 15 |
Taxes | $10,072 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | 1917 |
Lot Size | 0.05 AC / 2,100 SF |
County | Philadelphia County |
Buyer's Agent Compensation | 3% |
Building
Building Information for 1631 Wallace Street
Stories3Residences-Year Built1917Building Size-Lot Size0.05 AC / 2,100 SF
Property Information for 1631 Wallace Street
Property History for 1631 Wallace Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1631 Wallace Street
Taxable ValueLand-Additions-Total-
Tax Record2024$10,767 ($897 / month)
Home Facts
Total Finished SqFt3,660 SqFtAbove Grade Finished SqFt3,660 SqFtStories3Lot Size2,100 SqFtStyleOffice BuildingYear Built1915ZoningRM1CountyPHILADELPHIAAPN87-1-0749-00
Schools near 1631 Wallace Street
This home is within The School District of Philadelphia.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 5 to 12 |
Rating | School | Distance |
---|---|---|
Waring Laura W School PublicPK to 8 | ||
Franklin Benjamin High School Public9 to 12 | ||
Franklin LC Public9 to 12 | ||
Masterman Julia R Secondary School Public5 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Neighborhood Map and Transit
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