1059 VAN KIRK STREET PHILADELPHIA PA 19149 | Keller Williams Realty

  • 1059 VAN KIRK STREET 

  • PHILADELPHIA, PA 19149
  • 0 bed | 0 fullbath | 2000 sqft | Duplex
  • $300,000

  • Est. Monthly Payment: $1,232,123/mo calculator
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Charles Balducci

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Description

Small Business Entrepreneur Investor Opportunity: Established Mixed-Use Commercial Property For Sale on a prominent corner with strong traffic counts and good curb parking in front. Located in the Oxford Circle Area of Philadelphia, this property has operated as a Residential Duplex plus a Pizzeria Luncheonette for over 30 years. Good for either owner-occupant or investor. No L&I Violations. New Fire Alarm system. The property contains one one-bedroom (Section-8) and one studio apartment - 1,120 TSF with hardwood floors, good kitchen, bath, electric heat; plus an 880 SF commercial space actively used as a pizzeria. Separate meters. 2018 Financials: Gross Annual Income: $33,960 net after 5% Residential Vacancy, 21% Expenses, NOI $26,803, c/c ROI is 16.41% after the mortgage on a 25% cash investment. DSCR is 1.85. This leveraged model generates an attractive 8.93% CAP at the asking price. Essentially, the residential income covers the expenses and a 75% LTV mortgage, so the commercial component is poised to perform as the money-maker. The ten-year commercial tenant is now on an M/M lease, so you are free to launch your preferred business. The sale is 'As-Is' for real estate only, no commercial fixtures. Eligible for FHA ownership. Manifest your dream! Call for additional details, property brochure or appointment.

Interior Features

  • Bedrooms: 0
  • Full Baths: 0
  • SQFT: 2000

Exterior Features

  • Lot Size: 1742.399961
  • Stories: 0

Utilities

  • Central Air: Wall Unit(s) A/C
  • Heating Desc: Baseboard, Electric

Community Details

  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA

Additional Information

  • County: PHILADELPHIA
  • Property Type: Duplex
  • Ski Subdivision: Oxford Circle
  • Annual Taxes: 2207
  • Year Built: 1925

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