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3817 Wallace Street

PHILADELPHIA, PA 19104
  • $825,000
  • STATUS: Active
  • ON SITE: 201 Days
  • MLS #: PAPH2141756
UPDATED: 36 min ago
$825,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,110
    SQFT
  • $265
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2020
County:

School Ratings & Info

Description

Incredible investment opportunity in a high growth area of University City! 3815-17 Wallace St includes two mirror image new construction 4 unit buildings with over 8 years left on a full 10 year Tax Abatement and is being offered with 623 N 36th St as an 11 UNIT PORTFOLIO. Buy them individually or together. Each side boasts two 2 bedroom and two 3 bedroom apartment units with top quality finishes, central A/C, and in-unit laundry. Half of the units have either a private patio or a private roof deck. Get the best of both worlds with new construction buildings that do not require any work while still boasting a value add opportunity to lease at rates more in line with the market after an initial lease up during the midst of the covid lockdowns and the ability to benefit from the nearby construction boom. Great location with new construction all around, including a 30+ unit project on the same block and the neighborhood transforming development of Village Square in Haverford just over a block away. The highly anticipated uCity Square project featuring 8 million square feet of new office, lab, medical, academic, residential and commercial space is in progress just down the road. Close proximity to other economic and employment drivers such as Drexel University, Penn Presbyterian Hospital, University of Pennsylvania, the Schulykill Yards project, major transportation lines to Center City, I-76, and plenty favorite neighborhood restaurants and nightlife. All electric utilities for easy management. All three buildings are located in Federal Opportunity Zones and have a tax abatements allowing for incredibly low property taxes for many years to come. Operating Memorandum and additional lease and operations information are available upon request.

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©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Kiliszek Real Estate Experts | Keller Williams Midtown Direct. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-02-08T17:51:41.407.
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3817 Wallace Street PHILADELPHIA, PA 19104

  • Price: $825,000
  • Status: Active
  • On Site: 201 Days
  • Updated: 36 min ago
  • MLS #: PAPH2141756
0
Beds
0
Baths
0
½ Baths
0.03
Acres
3,110
SQFT
$265
$/SQFT
2020
Built
Neighborhood:
19104 (19104)
County:
Philadelphia
Area:
19104 (19104)
School District:
The School District Of Philadelphia
Property Description
Incredible investment opportunity in a high growth area of University City! 3815-17 Wallace St includes two mirror image new construction 4 unit buildings with over 8 years left on a full 10 year Tax Abatement and is being offered with 623 N 36th St as an 11 UNIT PORTFOLIO. Buy them individually or together. Each side boasts two 2 bedroom and two 3 bedroom apartment units with top quality finishes, central A/C, and in-unit laundry. Half of the units have either a private patio or a private roof deck. Get the best of both worlds with new construction buildings that do not require any work while still boasting a value add opportunity to lease at rates more in line with the market after an initial lease up during the midst of the covid lockdowns and the ability to benefit from the nearby construction boom. Great location with new construction all around, including a 30+ unit project on the same block and the neighborhood transforming development of Village Square in Haverford just over a block away. The highly anticipated uCity Square project featuring 8 million square feet of new office, lab, medical, academic, residential and commercial space is in progress just down the road. Close proximity to other economic and employment drivers such as Drexel University, Penn Presbyterian Hospital, University of Pennsylvania, the Schulykill Yards project, major transportation lines to Center City, I-76, and plenty favorite neighborhood restaurants and nightlife. All electric utilities for easy management. All three buildings are located in Federal Opportunity Zones and have a tax abatements allowing for incredibly low property taxes for many years to come. Operating Memorandum and additional lease and operations information are available upon request.
Exterior Features

Architectural Style Other Construction Materials Brick Garage YN No Other Structures Above GradeBelow Grade Parking Types On Street Pool No Pool Property Condition Excellent Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 3110 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Central A/C Fireplaces Total 0 Heating Forced Air Heating YN Yes Single Room Units 0 Three Bedroom Units 2 Two Bedroom Units 2

Property Features

Accessibility Features 2+ Access Exits Assessment Year 2023 Central Air YN Yes Construction Completed YN No Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Municipality Philadelphia Navigable Water YN N New Construction YN Yes Number Of Units Total 4 Original MLSNumber 801752757538 Ownership Interest Fee Simple Possession Immediate Property Sub Type Quadruplex Sale Type Standard Sewer Public Sewer Structure Design Type Other Tax Annual Amount 1945.00 Tax Assessment Amount 139000.00 Tax Lot 117 Vacation Rental YN No Water Source Public Zoning Rm1

Listing courtesy of Compass Pennsylvania, Llc: .


©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Kiliszek Real Estate Experts | Keller Williams Midtown Direct. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-02-08T17:51:41.407.
 
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