424 South 56th Street
Philadelphia, PA 19143
$300,000
Price
3
Beds
2
Baths
1,500 Sq. Ft.
$200 / Sq. Ft.
1,500
Sq. Ft.
$200
per Sq. Ft.
Virtual Tour
Virtual Tour
Description
Well-maintained and updated duplex in Cobbs Creek offers an incredible opportunity! As your first investment you could live in one unit while the other pays your mortgage. Seasoned Investor? One unit has a solid tenant in place and the other was just renovated and is ready for an upscale city professional tenant. You could even rent out the garage or extra storage on the lowest level. The possibilities are endless! Unit A (Lower) is a spacious 1-bed, 1-bath apartment boasting a large living room,...Well-maintained and updated duplex in Cobbs Creek offers an incredible opportunity! As your first investment you could live in one unit while the other pays your mortgage. Seasoned Investor? One unit has a solid tenant in place and the other was just renovated and is ready for an upscale city professional tenant. You could even rent out the garage or extra storage on the lowest level. The possibilities are endless! Unit A (Lower) is a spacious 1-bed, 1-bath apartment boasting a large living room, formal dining room perfect for gatherings, and a sunlit kitchen with a refrigerator and electric range. The tenant enjoys a roomy private backyard outdoor retreat. A full laundry for this unit is in the basement with washer and dryer in place. The tenant is in good standing, currently on a month-to-month lease at $950 and will be vacating the property on November 30th. If this space was updated, the rent potential could be $1,200. Unit B (upper) provides city living at it's best with a true showpiece, completely renovated apartment. The new kitchen is a dream with the perfect arrangement to entertain and create the gourmet experience. Starting with granite countertops, 42 inch cabinets, marble floors, breakfast bar, recessed lighting, deep sink and stylish backsplash. Then there are the new stainless appliances including a large Frigidaire side by side fridge with lower freezer drawer, ceramic cooktop range with warming drawer and space saver microwave. The breakfast bar will easily host 4-5 guests while the adjacent room with a bay window would make a great living room or combo dining room if you'd like. The open-concept layout allows natural light from the bay window to brighten the entire space. The space is breathtaking and to top it off the crystal chandelier with the ceiling fan really makes it pop! Head down the hall where the newly refinished 1.5 inch white oak hardwood really gleams under all the recessed LED lighting. The convenient laundry nook homes brand-new stacked Samsung washer and dryer. The new bathroom with high-end finishes including new vanity, LED lighting, and brushed black fixtures. This level is completed by two very generously sized bedrooms, both with lighted ceiling fans, beautiful floors, good closets and modern electrical service
This 2-bedroom, 1-bathroom apartment has a rental potential of $1,450/mo. Additional features: 2020 roof replacement, 24-hour exterior surveillance with a free app, separate electric and hot water heaters (Unit B 2024), new sewer mains and new electrical wiring. There is separate garage door access to the expansive unfinished basement space offering endless possibilities for storage, a workshop, or a small business. Located just minutes from subway stations, bus stops, and within 5 miles of Center City and 10 miles from Philadelphia Airport, this property offers convenient access to everything you need. Don’t miss the chance to own a versatile property in a prime location – perfect for living while generating income or expanding your portfolio!
This 2-bedroom, 1-bathroom apartment has a rental potential of $1,450/mo. Additional features: 2020 roof replacement, 24-hour exterior surveillance with a free app, separate electric and hot water heaters (Unit B 2024), new sewer mains and new electrical wiring. There is separate garage door access to the expansive unfinished basement space offering endless possibilities for storage, a workshop, or a small business. Located just minutes from subway stations, bus stops, and within 5 miles of Center City and 10 miles from Philadelphia Airport, this property offers convenient access to everything you need. Don’t miss the chance to own a versatile property in a prime location – perfect for living while generating income or expanding your portfolio!
- Listed by Kenneth Van Every • Keller Williams Realty WilmingtonP: (302)-529-1857 k.van.every@kw.com
- Listed by Brittany Ann McCorriston • Keller Williams Realty WilmingtonP: (302)-570-2589 bmccorriston@kw.com
Property Details for 424 South 56th Street
Tax ID Number
604219300
OwnershipFee Simple
Structure TypeEnd of Row/Townhouse
StyleOther
WaterfrontNo
GarageNo
Expected On Market Date10-17-2024
MunicipalityPHILADELPHIA
LISTING UPDATED: 11/11/2024 07:00 AM
Property Details for 424 South 56th Street
| Status | Active |
|---|---|
| MLS # | PAPH2409740 |
| Days on Market | 37 |
| Taxes | $2,627 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Fee Simple |
| Year Built | 1925 |
| Lot Size | 0.04 AC / 1,558 SF |
| County | Philadelphia County |
Virtual Tour
Building Information for 424 South 56th Street
Stories-Residences2Year Built1925Building Size-Lot Size0.04 AC / 1,558 SF
Property Information for 424 South 56th Street
Location
Location
- Transportation: Airport less than 10 miles, Bus Stop less than 1 mile, Metro/Subway Station 1 to 3 miles, Commuter Lots less than 5 miles, Commuter Rail Station 1 to 5 miles
- School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
- School District County ID: 300200397108
- SchoolDistrictSource: Listing Agent
- County: PHILADELPHIA
- MLS Area: 19143 (19143)
Waterfront / Water Access
Waterfront / Water Access
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
- Tax Year: 2024
- Tax Assessed Value: $187,700
- Year Assessed: 2024
- County Tax: $0
- Improvement Assessed Value: $150,200
- City Town Tax: $1,156
- Land Assessed Value: $37,500
- Clean Green Assessed: No
- Land Use Code: U30
- Zoning: CMX2
- Tax Lot: 65
- School Tax: $1,471
- Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
- Owner Pays: Water, Pest Control
Unit Information
Unit Information
- Single Room Units Count: 0
- One Bedroom Units Count: 1
- Two Bedroom Units Count: 1
- Three Bedroom Units Count: 0
- Other Units: Unit 1,Unit 2
- Units Furnished: None
- Units Leased Count: 1
- Number Of Units Vacant: 1
- Number Of Units Month To Month: 1
Multi Family
Unit 1
- Type: Unit 1
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Finished SQFT: 602
- Unit Type Lease Type: Month to Month
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: Basement laundry, backyard access, formal dining room.
- Total Rooms: 5
Unit 2
- Type: Unit 2
- Unit Type Occupied YN: No
- Level: 2
- Unit Type Finished SQFT: 726
- Unit Type Lease Type: None
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: Solid white oak hardwoods, beautifully renovated kitchen and bath, with granite counters and marble tile. In unit washer/dryer.
- Total Rooms: 4
Financial Information
Financial Information
- Annual Rental Income: $11,400
- Income Includes: Apartment Rentals
- Existing Lease Type: Month to Month
Building Info
Building Info
- Year Major Reno Remodel: 2023
- Building Level Count: 2
- Building Units Total: 2
- Total Finished SQFT: 1,500.00
- Total Finished SQFT Source: Assessor
- Tax Total Finished SQFT: 1,500.00
- Total SQFT: 1,500.00
- Total SQFT Source: Assessor
- Construction Materials: Masonry
- Roof: Flat
- Flooring Type: Solid Hardwood, Partially Carpeted, Ceramic Tile, Marble
- Basement Type: Daylight, Partial, Interior Access, Outside Entrance, Unfinished, Walkout Level, Windows, Workshop, Other
- Foundation Details: Stone
Lot / Land Information
Lot / Land Information
- Lot Size Source: Assessor
- Lot Size Dimensions: 18.00 x 85.00
- Lot Dimensions Source: Assessor
- Parcel ID: 1328585
- Ground Rent Exists: No
Parking
Parking
- Type Of Parking: On Street
Interior Features
Interior Features
- Interior Features: Wood Floors, Upgraded Countertops, Recessed Lighting, Kitchen - Gourmet, Formal/Separate Dining Room, Dining Area, Ceiling Fan(s), Bathroom - Tub Shower
- Fireplace: No
- Appliances: Built-In Microwave, Built-In Range, Dishwasher, Dryer, Oven/Range - Electric, Water Heater, Washer
- Accessibility Features: None
- Security Features: 24 hour security, Exterior Cameras, Carbon Monoxide Detector(s), Smoke Detector, Security Gate
- Window Features: Double Pane, Double Hung
Exterior Features
Exterior Features
- Exterior Features: Sidewalks, Street Lights
- Pool: No Pool
- Other Structures: Above Grade, Below Grade
Utilities
Utilities
- Utilities: Natural Gas Available, Cable TV Available, Electric Available, Phone Available, Sewer Available, Water Available
- Heating: Yes
- Cooling Type: Window Unit(s)
- Cooling Fuel: None
- Heating Type: Baseboard - Electric, Radiator
- Heating Fuel: Electric, Natural Gas
- Hot Water: Natural Gas, Electric
- Water Source: Public
- Sewer Septic: Public Sewer
- Electric Service: 120/240V, 100 Amp Service
Confidential Data
Listing Office
- List Agent AOR: New Castle County Board of REALTORS
Property History for 424 South 56th Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 424 South 56th Street
Taxable ValueLand$37,500Additions$150,200Total$187,700
Tax Record2023$2,627 ($219 / month)
Home Facts
Total Finished SqFt1,500 SqFtAbove Grade Finished SqFt1,500 SqFtStories2Lot Size1,558 SqFtStyleMulti-Family Res (5+ Units)Year Built1925ZoningCMX2CountyPHILADELPHIAAPN60-4-2193-00
Schools near 424 South 56th Street
This home is within The School District of Philadelphia.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Overbrook Edu Center PublicK to 8 | ||
Middle Years Alternative School Public6 to 8 | ||
Sayre William L Middle School Public9 to 12 | ||
Motivation High School Public9 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.
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Listing Courtesy of Keller Williams Realty Wilmington
Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.