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$409,900
●
Townhouse -
Off Market
1901 E CUMBERLAND ST
PHILADELPHIA, PA 19125
Studio
0 Bath
$2,013
Estimated Monthly
$0
HOA / Fees
About This Property
Diamond in the rough mixed use land in Fishtown/East Kensington.
The hottest and most in demand area in the city. The plans for this
CMX2 are approved and ready to build. The first floor commercial
property boasts 2 levels with 1,712 square feet, which would be
perfect for an art gallery, wine bar, gastro pub, cafe, etc. This
location already has a built in and growing customer base due to
the enormous increase in residential, new construction housing. You
can apply for pavement permits for tables outside and utilize the
yard to expand your space seasonally. The apartments/condos are 2
bedroom bi-level with 968 square feet each and individual rooftop
decks with views of the beautiful Philadelphia skyline. This
project has the support of the East Kensington Neighbors
Association, which makes for a seamless transition to mark your
place into this community. This is a great opportunity to start a
business and lease the two apartments/condos or lease all the units
building for a great income producing property. You can condo the
two residences, rent them out and sell them at a later date or sell
them off for profit and run or rent the commercial space. You can
live in one residence, rent the other and run your business. The
residences can also produce income via Air B&B. Potential
monthly rents for the 2 bedroom units is $2,300.00 and for the 2
level commercial unit is $4,500.00. So, whether you decide to use
the current builder on the building permit or replace that builder
with your own builder on the permit you will have a new
construction property. New construction typically comes with a one
year builder's warranty, additionally there are warranties on the
mechanicals and appliances, which will assist with a higher income
return and overall value. Another consideration is you can purchase
the land for a lesser sale price and purchase the approved plans in
the same transaction to save thousands on transfer tax/closing
costs. The land plus improvements has been appraised for $1M in
November 2019. The area has historically had a value increase of
5%-10% annually. This is a perfect investment to own a brand new,
income producing property in the hottest neighborhood around. Not
to mention the 10 YEAR TAX ABATEMENT! Building permits and
appraisal available upon request for serious inquiries only. This
is a land only sale.
Unit Size
-
Days on Market
-
Land Size
0.02 acres
Price per sqft
-
Property Type
Townhouse
Property Taxes
$13
HOA Dues
-
Year Built
-
Last updated: 4 months ago (Bright MLS #PAPH2071522)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jan 14, 2024 | No longer available | - | |
No longer available | |||
Jan 21, 2022 | Listed by RE/MAX Truist | $409,900 | |
Listed by RE/MAX Truist |
Property Highlights
Air Conditioning
Parking Details
Parking Features: On Street
Interior Details
Interior Information
Living Area Square Feet Source: Assessor
Basement Information
Has Basement
Full
Exterior Details
Property Information
Ownership Interest: Fee Simple
Property Condition: Excellent
Year Built Source: Estimated
Building Information
Foundation Details: Block
Other Structures: Above Grade, Below Grade
Structure Type: End of Row/Townhouse
Construction Materials: Brick
Pool Information
No Pool
Lot Information
Tidal Water: N
Lot Size Dimensions: 17.00 x 63.00
Lot Size Source: Assessor
Land Information
Land Assessed Value: $11,200
Financial Details
City Town Tax: $70
City Town Tax Payment Frequency: Annually
Tax Assessed Value: $11,200
Tax Year: 2023
Tax Annual Amount: $156
Year Assessed: 2023
Utilities Details
Central Air
Cooling Type: Central A/C
Heating Type: Forced Air
Cooling Fuel: Natural Gas
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Sewer Septic: Private Sewer
Water Source: Public
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Townhouse
3
Beds
3
Baths
1,634 ft²
$245/ft²
$400,000
Sep 12, 2023
$400,000
Nov 14, 2023
-
Townhouse
3
Beds
3
Baths
-
$415,000
Dec 27, 2017
$415,000
Apr 27, 2018
-
Townhouse
3
Beds
2
Baths
2,200 ft²
$191/ft²
$421,000
Aug 23, 2018
$421,000
Jan 17, 2019
-
Townhouse
3
Beds
3
Baths
1,294 ft²
$332/ft²
$430,000
Feb 17, 2022
$430,000
Apr 14, 2022
-
Sold
Townhouse
3
Beds
3
Baths
1,514 ft²
$281/ft²
$425,000
May 12, 2023
$425,000
Jun 13, 2023
-
Sold
Townhouse
3
Beds
3
Baths
1,514 ft²
$262/ft²
$397,000
Apr 3, 2019
$397,000
May 23, 2019
-
Active
Townhouse
3
Beds
4
Baths
2,350 ft²
$179/ft²
$419,900
Sep 16, 2023
-
$120/mo
Active
Townhouse
3
Beds
3
Baths
2,200 ft²
$177/ft²
$390,000
Dec 13, 2023
-
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
01/21/2022
|
|
Loft
|
-
|
-
|
$425,000
Loft
-
|
-
-
|
-
|
Jack Kanagie
RE/MAX One Realty
|
08/18/2020
|
|
Loft
|
-
|
-
|
$425,000
Loft
-
|
-
-
|
-
|
Nigel Richards
Compass Pennsylvania, LLC
|
01/28/2020
|
|
Studio
|
-
|
-
|
$549,900
Studio
-
|
-
-
|
-
|
-
|
06/19/2019
|
|
Studio
|
-
|
3400 ft²
|
$595,000
Studio
-
3400 ft²
|
-
-
|
-
|
-
|
Building Info
1901 East Cumberland Street
1901 East Cumberland Street, Philadelphia, PA 19125
- 1 Unit for Sale
About North Philadelphia
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