638 South Street

Philadelphia, PA 19147

$1,799,000
Price
8
Beds
4
Baths
6,258 Sq. Ft.
$287 / Sq. Ft.
6,258
Sq. Ft.
$287
per Sq. Ft.

Description

Welcome to 638 South Street! Located on one of Philadelphia’s most popular and well known streets, you don’t want to miss out on this investment opportunity. This building includes a retail store front and 4 residential, two bedroom apartments. This amazing cash producing investment opportunity is fully occupied currently producing a 6.77% cap rate! The retail space includes a half bathroom and a basement for storage. Two of the apartments face South Street, and the other two apartments face Kater...Welcome to 638 South Street! Located on one of Philadelphia’s most popular and well known streets, you don’t want to miss out on this investment opportunity. This building includes a retail store front and 4 residential, two bedroom apartments. This amazing cash producing investment opportunity is fully occupied currently producing a 6.77% cap rate! The retail space includes a half bathroom and a basement for storage. Two of the apartments face South Street, and the other two apartments face Kater Street. The apartments are located on the second and third floors of the building and all have separate entrances. The residential apartments include recessed living room lighting, beautiful hardwood floors in the living/kitchen area, stainless steel kitchen appliances, great natural light, and ceiling fans in the bedrooms. The units each have central air/heat controlled with a Nest thermostat, an in-unit washer/dryer set, dishwasher, and separate utilities. Residents will find themselves experiencing all that South Street has to offer. Only a short walk or distance away from some of the most popular attractions in the area including, markets, parks, museums, cafes & restaurants, shops, nightlife, and more! Visit Penn’s Landing and its many piers or the Liberty Bell in Philadelphia which are both nearby. There is plenty of public transportation nearby, including buses, trains, and subways, which take you anywhere you’d like to go in Philadelphia and the surrounding area. Don’t miss out on this great investment opportunity!

Property Details for 638 South Street

Tax ID Number
871029750
Ownership
Fee Simple
Structure Type
Interior Row/Townhouse
Style
Traditional
Waterfront
No
Garage
No
Municipality
PHILADELPHIA
Central Air
Yes
LISTING UPDATED: 10/11/2024 05:54 PM

Property Details for 638 South Street

StatusActive
MLS #PAPH2377130
Days on Market80
Taxes$16,791 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1920
Lot Size0.05 AC / 2,070 SF
CountyPhiladelphia County

Building Information for 638 South Street

Stories-Residences4Year Built1920Building Size-Lot Size0.05 AC / 2,070 SF

Property Information for 638 South Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19147 (19147)
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
Association / Community Info
Association / Community Info
  • Association Recreation Fee Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2024
  • Tax Assessed Value: $1,199,500
  • Year Assessed: 2024
  • Clean Green Assessed: No
  • Land Use Code: Y50
  • Historic: No
  • Zoning: CMX2.5
  • Tax Lot: 239
  • Automatically Update Tax Values Y/N: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 4
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3
  • Units Leased Count: 5
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Lease Type: Long Term
  • Half Baths Count: 1
  • Unit Type Features: Retail
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 850
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Unit 3
  • Type: Unit 4
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 850
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Unit 4
  • Type: Unit 5
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 1050
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Unit 5
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 1050
  • Beds Total: 2
  • Full Baths Count: 1
Financial Information
Expenses
  • Insurance Expense: $3,081
Financial Information
  • Net Operating Income: $121,778
  • Annual Rental Income: $143,197
  • Cap Rate: 6.77
  • Existing Lease Type: Yearly
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: 6,258.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Parcel ID: 7211309
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Greater Philadelphia Association of REALTORS
  • List Agent URL: www.becker-capital.com

Property History for 638 South Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 638 South Street

Taxable ValueLand$239,900Additions$959,600Total$1,199,500
Tax Record2023$16,791 ($1,399 / month)
Home Facts
Total Finished SqFt6,258 SqFtAbove Grade Finished SqFt6,258 SqFtStories3Lot Size2,070 SqFtStyleOffice BuildingYear Built1920ZoningCMX2.5CountyPHILADELPHIAAPN87-1-0297-50

Schools near 638 South Street

This home is within The School District of Philadelphia.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Meredith William M School
PublicK to 8

Furness Horace High School
Public9 to 12

Academy At Palumbo
Public9 to 12

Constitution 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.

Similar Homes

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638 South Street is a multi-family home for sale in Philadelphia, PA 19147. This property was listed for sale on July 16, 2024 by Becker Capital, LLC, it's currently listed at $1,799,000. It has been on the market for a total of 80 days and was last sold on December 7, 2021. This listing's school district is The School District of Philadelphia. Nearby schools include Meredith William M School, Furness Horace High School and Academy At Palumbo. 638 South Street is a 8-bed, 4-bath, 6,258 sqft multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Becker Capital, LLC

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.