1038 9Th StPhiladelphia, PA 19147

Property Details for 1038 9Th St

Year built

1915

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.03 AC

Property size (Sq ft)

3,780 SF

Zone code

CMX2

Property type

Investment properties

Property subtype

Live-work space

APN

87-1-5036-50

APU

871503650

Description

This exceptional mixed-use property located at 1038 S 9th Street in Philadelphia, Pennsylvania, presents a compelling value-add investment opportunity. The three-story building boasts a total of 4,000 square feet and comprises three units, currently configured as a ground floor retail space and two three-bedroom apartments. Its classification as a Class B property reflects its potential for significant upgrades and increased rental income. The building's strategic location in Philadelphia, within the 19147 zip code, offers strong potential for student housing, given its proximity to educational institutions (this information is not explicitly stated in the provided data, but implied by the property subtype). The asking price is $1,300,000. This presents a chance to capitalize on the growing demand for both retail and residential space in this vibrant Philadelphia neighborhood. The property's existing structure provides a solid foundation for a renovation project, allowing for the enhancement of both the retail space and the residential units to maximize rental income and property value. The building's multifamily and retail components offer a diversified income stream, mitigating risk and enhancing the overall investment appeal. This is an ideal opportunity for investors seeking a value-add project with significant upside potential in a desirable Philadelphia location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,083,478

  6.5%

  $1,000,133

  7%

  $928,695

• Comparable approach

  Method

  Valuation

  Relative Method

  $493,895

  Geo Method

  $493,895

• Alternative Use

  Use

  Valuation

  Residential

  $1,240,165

  Hospitality

  $1,135,984

  Educational

  $945,126

  Medical

  $977,630

  Retail

  $1,470,196

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9366

Longitude

-75.1586

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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