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616 N 40th Street, Philadelphia, PA 19104
$951,000
616 N 40th Street, Philadelphia, PA 19104View this property at 616 N 40th Street, Philadelphia, PA 19104
616 N 40th StreetPhiladelphiaPA19104
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Property Description
Enormous new construction triplex plus separate office space with street frontage. Rent to PENN, DREXEL, CHOP, PENN MEDICAL STUDENTS AND PROFESSIONALS! 4 units total! 1st floor apartment has large private yard with 2BR/2BATH. 2nd floor apartment has 3BR/3BATH. 3rd floor apartment has 3BR/3BATH with access to oversized roofdeck. Being sold at estimated 6.5% pro forma cap rate. Construction is almost complete. 10 year tax abatement! Disclosure: For security reasons, while vacant, property has alarm and remote video surveillance.
Full Property Details
Full Property Details for 616 N 40th St
General
- Sold For: $951,000
- Taxes: $1,578 (2022)
- Status: Closed
- Type: Multi-Family
- MLS ID: PAPH2226364
- Added to Site: 401 day(s) ago
Parking
- Parking Type: On Street
Location
- Area: 19104 (19104)
- Municipality: PHILADELPHIA
- County: Philadelphia
- Driving Directions: 616 N 40th
School Information
- School District: The School District Of Philadelphia
- Elementary School: Charles R. Drew
- Middle School: Alain Locke Elemementary
- High School: Overbrook
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Central
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Architectural Info: Other
- Architectural Style: Other
- Structure Type: Interior Row/Townhouse
- Construction: Other
- Foundation: Other
- Stories/Levels: 0
- Square Feet: 4,968
- Sq. Ft. Source: Estimated
- Living Area: 4,968 Sq. Ft.
- Finished Above Grnd: 3,726 Sq. Ft.
- Year Built Source: Assessor
- Property Condition: Excellent
Unit Information
- 2 Bedroom Units: 1
- 3 Bedroom Units: 2
Lot Features
- Lot Size (Acres): 0.04
- Lot Size (Sq. Ft.): 1,735
- Lot Size Source: Assessor
- Lot Dimensions: 28.00 x 62.00
- Zoning: RM1
Financial Considerations
- Price Per Sq. Ft.: $255.23
- Assessment Year: 2023
- School Tax: $866
- City/TownTax: $712
- City/TownTax Freq: Annually
- County Tax Freq: Annually
- Tax w/Assessment: $112,800
- Tax Amount: $1,578
- Tax Year: 2022
- Terms: Standard Sale
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Ownership: Fee Simple
- Lot Number: 176
Listed by REDBLOCK Realty Inc., Ilya Rabovetsky
Sold by Compass Pennsylvania, LLC, Alyce Gerhardt
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Schools
Schools serving 616 N 40th St
School District:The School District Of Philadelphia
Rating | Name | Grades | Distance |
---|---|---|---|
Belmont Elementary Charter School
4030 Brown St, Philadelphia, PA 19104 | PK-8 | 0.2 mi | |
4901 Chestnut St, Philadelphia, PA 19139 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 616 N 40th St
Date
Details
Price
Change
Source
8/09/2023
Sold
$951,000
-13.55%
MLS
5/22/2023
Price Reduced
$1,100,000
-8.33%
MLS
4/19/2023
Listed
$1,200,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
616 N 40th Street, Philadelphia, PA 19104 (MLS# PAPH2226364) is a Multi-Family property that was sold at $951,000 on August 09, 2023. Want to learn more about 616 N 40th Street? Do you have questions about finding other Multi-Family real estate for sale in Belmont? You can browse all Belmont real estate or contact a Coldwell Banker agent to request more information.