3011 Edgemont StPhiladelphia, PA 19134

Property Details for 3011 Edgemont St

Property size (Sq ft)

7,300 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a three-story, 4-unit apartment building situated on a sizable 6,300 square foot lot in Philadelphia's desirable Port Richmond neighborhood. The property, located at 3011 Edgemont Street, boasts 7,300 square feet of space and is currently generating $5,750 in monthly rental income. The building includes three spacious studio apartments, with one currently vacant, presenting an ideal opportunity for owner occupancy. A significant feature is a large garage space with a mechanic's pit, accessible from both the front and rear. Renovated in 2009, the building is classified as Class B. The property benefits from its prime corner location and proximity to popular local amenities in both Fishtown and Port Richmond, including Tacconelli's Pizza. Its convenient access to Center City Philadelphia and University City, known for its strong "Eds and Meds" economy, further enhances its investment appeal. The CMX2 zoning allows for a "by-right" renovation with potential for increased density, up to three stories. The asking price is $879,990, translating to $120.55 per square foot and $219,997.50 per unit. Square footage and tax assessments are estimates; buyers are advised to verify during due diligence. This value-add property offers significant upside potential for savvy investors seeking a strong return in a thriving Philadelphia neighborhood.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9818

Longitude

-75.1065

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