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1612-16 South St, Philadelphia, PA 19146

$4,620,000

  • Sold
  • Closed
  • Commercial
1612-16 South St, Philadelphia, PA 19146 View this property at 1612-16 South St, Philadelphia, PA 19146
1612-16 South St Philadelphia PA 19146

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Property Description

New construction mixed use property that consists of 14 residential units and 1 commercial space occupied by Founding Fathers Bar. The bar has a long term lease in place and has quickly become one of the neighborhood's favorites. The large sliding glass window panes at the front of the bar engage potential patrons as they walk by on South Street and they give the building a unique, impressive presence that sets it apart from other mixed use buildings in the neighborhood. The 14 units consist of 2 studio apartments, (10) 1 bedroom apartments, and (2) 2 bedroom apartments. The rental units have been outfitted with many upgraded finishes including central air, washer/dryer in each unit, video intercom system, hardwood floors, stainless steel
appliances, spacious living areas, and exterior balconies. The building has a 10 year approved Tax Abatement and property was just built in 2014! All utilities are separately metered for each unit and tenants pay their own utilities. The gross annual rent for the property totals 347,490. The property is located in the highly desirable section of Graduate Hospital, is just a 2 block walk from Broad Street, and is in close proximity to Fitler Square, Rittenhouse Square, and the Schuylkill River Park. The building is near major city transportation routes that link it to universities, hospitals, corporate offices, and city hall.Serious buyers can submit requests for more detailed financial information to the listing agent, Jim Robertson. Please note, business is not for sale.

Full Property Details for 1612-16 South St

  • Sold For: $4,620,000
  • Taxes: (2015)
  • Status: Closed
  • Type: Commercial
  • MLS ID: 6529842
  • Added: 959 day(s) ago

Property History

  • 1612-16 South St, Philadelphia, PA
  • Sold at $4,620,000 on 7/15/15

Interior

  • Flooring: 4.0

Location

  • Area: 19146
  • County: PHILADELPHIA

Structural Information

  • Roof: Flat Roof
  • Square Feet: 13,583
  • Current Bldg. Use: CA0
  • Year Built: 2014

Lot Features

  • Lot Size (Acres): 0.09
  • Lot Dimensions: 52 x 84
  • Zoning: CMX2

Financial Considerations

  • Tax Year: 2015

Listed by OCF Realty LLC
Sold by CBRE, Inc

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1612-16 South St, Philadelphia, PA 19146 (MLS# 6529842) is a Commercial property that was sold at $4,620,000 on July 15, 2015. Want to learn more about 1612-16 South St? Do you have questions about finding other Commercial real estate for sale in Rittenhouse Square? You can browse all Rittenhouse Square real estate or contact a Coldwell Banker agent to request more information.

Listed by OCF Realty LLC
Sold by CBRE, Inc