1950 E LOGAN ST Philadelphia, PA 19141
85,384 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 85,384 sqft
Price per Sqft $31
Subdivision Wister
MLS Listing ID PAPH2466868
Annual Tax Amount $10,100
Tax Year 2024
Lot Size 2.290 Acres
Acres 2.29
Lot Dimensions 345.00 x 217.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Zoning approved project in the Germantown section of Philadelphia.
Zoning permit in hand, approved for multi-family with:
111 Dwelling units.
42 Parking spaces , 4 Accessible spaces (including 1 van), 3 Electric van spaces, 45 1A class bicycle spaces
Total Gross floor area (3 floors & lower level) 85,384 sqft
Lot area 99,798.7 SF (2.29 AC)
Units Breakdown:
Lower level: Lobby & Utility
1st Floor: Office, 23 units of 1 Bedroom, 13 units of 2 Bedrooms = 36 Units total
2nd Floor: 25 units of 1 Bedroom, 13 units of 2 Bedrooms = 38 Units total
3rd Floor: 23 units of 1 Bedroom, 13 units of 2 Bedrooms, 1 unit of 3 Bedrooms = 37 Units total
Total Units Count: 111 Units.
LOW estimated rents:
1 Bed 1 bath $1,015
2 Beds 1 bath $1,250
3 Beds 1 bath $1,450
With the above projection, the building is expected to generate approximately
$72,065 from 1 bed units
$48,750 from 2 beds units
$1,450 from 3 beds unit
Total monthly expected rents: $122,265 ; Yearly excepted gross rent $1,467,180
Medium to higher rents should bring additional 10-15%.
Additional income from parking is also expected.
With such incredible numbers, don't wait and make your move TODAY!
Location
State PA
County Philadelphia
Area 19141 (19141)
Zoning RM1
Interior
Hot Water None
Heating None
Cooling None
Heat Source None
Exterior
Garage Spaces 49.0
Water Access N
Accessibility Other
Total Parking Spaces 49
Garage N
Building
Lot Description Corner, Open, Rear Yard, Unrestricted
Sewer Public Sewer
Water None
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 884074550
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Other, Negotiable
Listing Terms Cash, Other, Negotiable
Financing Cash,Other,Negotiable
Special Listing Condition Standard
