4714 Griscom StPhiladelphia, PA 19124

Property Details for 4714 Griscom St

Property size (Sq ft)

3,500 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This 3,500 square foot multifamily property at 4714 Griscom St, Philadelphia, PA 19124, is a unique value-add investment opportunity. Currently undergoing renovation, the building offers significant upside potential. The framing is complete, along with new windows, rough plumbing, and rough electrical work. Insulation is currently in progress. Architectural plans are finalized and available. The property's flexible design allows for various configurations, including a five-unit apartment building (zoning variance required), a four-unit apartment building, or a large single-family home suitable for group housing. As a five-unit building, conservative rental projections estimate a total monthly income of $7,300, or $87,600 annually. Alternatively, configured as a group home, the property could command over $7,000 monthly rent. The current asking price is $350,000, with potential price adjustments as renovations progress. The estimated cost to complete the remaining work is between $100,000 and $160,000. This property presents a compelling opportunity for investors seeking a high-yield return. A conservative income-based valuation estimates an after-repair value (ARV) exceeding $850,000, suggesting a strong potential for significant appreciation. The property is being sold by owner.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0173

Longitude

-75.0845

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