2516 Frankford Avenue
Description
CMX-2 Zoned for commercial, 5 residential units above • 1 & 2 bed units & roof deck. Eligible for a 10 year tax abatement upon completion of construction . Additional property (set up as a duplex) at 2505 Amber St is interested to sell as a package deal, therefore you can consolidate, increase the foot print of the building and add unit density. Central to large and midsize development . Located in a Qualified...Rare Development Opportunity - Entitled 6 Units On a High Preforming Corridor. Location Details
CMX-2 Zoned for commercial, 5 residential units above • 1 & 2 bed units & roof deck. Eligible for a 10 year tax abatement upon completion of construction . Additional property (set up as a duplex) at 2505 Amber St is interested to sell as a package deal, therefore you can consolidate, increase the foot print of the building and add unit density. Central to large and midsize development . Located in a Qualified Opportunity Zone Strategy 1 - Bring the building to lease ready condition for a projected $4100 gross monthly income to cover the estimated $4000 monthly debt service. Pursue approvals on plans and pull permitting. factoring in expediting and response time from examiners you'll begin work in the spring time, which will aline with the ideal rental cycle for stabilizing the building. Strategy 2 - For an offer price of $780,000 Seller will finalize and coordinate with the architect to submit plans for approval. Seller will deliver approved plans at the time of closing. Buyer will be responsible for adding their contractor to eclipse and pulling/ paying for permits. Build immediately and sync with the rental cycle to stabilize the building.
- Listed by Richard K Cassell • KW EmpowerP: (215)-607-6007 rcassell@kw.com
Property Details for 2516 Frankford Avenue
Property Details for 2516 Frankford Avenue
| Status | Active |
|---|---|
| MLS # | PAPH2302076 |
| Days on Market | 380 |
| Taxes | $612 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Fee Simple |
| Year Built | 1900 |
| Lot Size | 0.04 AC / 1,584 SF |
| County | Philadelphia County |
Building
2516 Frankford Ave
Building Information for 2516 Frankford Avenue
Property Information for 2516 Frankford Avenue
- School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
- School District County ID: 300200397108
- SchoolDistrictSource: Listing Agent
- County: PHILADELPHIA
- MLS Area: 19125 (19125)
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
- Tax Year: 2023
- Tax Assessed Value: $279,500
- Municipal Trash: Yes
- Zoning: CMX2
- Zoning Dscrp: Legal 4 unit (3 residential & 1 commercial) zoned for 5 residential & 1 commercial
- Automatically Update Tax Values Y/N: No
- Single Room Units Count: 0
- One Bedroom Units Count: 1
- Two Bedroom Units Count: 3
- Three Bedroom Units Count: 0
- Other Units: Unit 1,Unit 2,Unit 4,Unit 3
- Units Leased Count: 0
- Number Of Units Vacant: 4
- Rent Control: No
- Type: Unit 1
- Unit Type Occupied YN: No
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: Commercial Space
- Type: Unit 2
- Unit Type Occupied YN: No
- Beds Total: 2
- Full Baths Count: 2
- Type: Unit 3
- Unit Type Occupied YN: No
- Beds Total: 2
- Full Baths Count: 2
- Type: Unit 4
- Beds Total: 2
- Full Baths Count: 2
- Unit Type Features: Roof Deck
- Year Major Reno Remodel: 2019
- Building Level Count: 2
- Building Units Total: 4
- Total Finished SQFT: 2,555.00
- Total Finished SQFT Source: Estimated
- Total SQFT: 2,555.00
- Total SQFT Source: Estimated
- Construction Materials: Brick
- Roof: Flat
- Foundation Details: Stone
- Lot Size Source: Estimated
- Lot Size Dimensions: 18ft wide
- Lot Dimensions Source: Estimated
- Lot Features: Irregular
- Parcel ID: 1066308
- Type Of Parking: None
- Accessibility Features: None
- Virtual Tour URL Unbranded: https://new.express.adobe.com/webpage/ujhZwybnXs8xm
- Pool: No Pool
- Other Structures: Above Grade
- Heating: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Central
- Heating Fuel: Natural Gas
- Hot Water: Natural Gas
- Water Source: Public
- Sewer Septic: Public Sewer
- Electric Service: 200+ Amp Service
- List Agent AOR: Greater Philadelphia Association of REALTORS
- List Agent URL: https://myphillycassell.myportfolio.com
Property History for 2516 Frankford Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| 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 2516 Frankford Avenue
Schools near 2516 Frankford Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 12 | |||
| Public - | 6 to 8 | |||
| Public - | 5 to 8 |
Rating | School | Distance |
|---|---|---|
Hackett Horatio B School PublicPK to 5 | ||
Penn Treaty Middle School Public6 to 12 | ||
Amy At Martin Public6 to 8 | ||
Conwell Russell Middle School Public5 to 8 |
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.
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Listing Courtesy of KW Empower
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