$505,000
$535,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
8022 GERMANTOWN AVE Philadelphia, PA 19118
1,718 SqFt
Key Details
Sold Price $505,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 1,718 sqft
Price per Sqft $293
Subdivision Chestnut Hill
MLS Listing ID PAPH2283680
Year Built 1930
Annual Tax Amount $5,690
Tax Year 2023
Lot Size 2,068 Sqft
Property Description
Investment Opportunity: Mixed-Use Building in Chestnut Hill with Commercial and Residential Rental Income. This well-maintained mixed-use building offers a bi-level retail space on the first floor consisting of approximately 850sqft with convenient and open access to the basement for ample overflow space (roughly 750sqft additional). Above the store is a bright and spacious 1-bedroom apartment with a large living room complete with Juliette balcony, dining area, spacious working kitchen with gas cooking, ample wood cabinetry and tiled countertop, full bath with shower over tub, and in-unit laundry. The apartment layout offers the potential to be converted into a two-bedroom unit to maximize value with higher rental income. Out back is a small courtyard and open rear yard. The commercial space is occupied by the long term and established business - Chestnut Hill Audio - with a lease through June of 2024 at $2,000 per month. The residential unit is currently rented for $1,400/mo through June of 2024.
Located on bustling Germantown Avenue, this property is just steps away from some of the best shops, restaurants, and public transportation of the Chestnut Hill business corridor.
Location
State PA
County Philadelphia
Area 19118 (19118)
Zoning CMX1
Interior
Hot Water Natural Gas, Electric
Heating Forced Air, Radiant, Baseboard - Hot Water
Cooling Central A/C, Wall Unit, Window Unit(s)
Exterior
Water Access N
Roof Type Flat
Building
Lot Description Rear Yard
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Bought with Paul Walsh Jr. Jr. • Elfant Wissahickon-Chestnut Hill