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7904-6 Germantown Avenue

PHILADELPHIA, PA 19118
  • $1,475,000
  • STATUS: Active Under Contract
  • ON SITE: 65 Days
  • ID#: PAPH2088836
Under Contract
UPDATED: 58 min ago
$1,475,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Information

Elementary School:
Middle School:
High School:

Description

7904-06 Germantown Avenue is an exceptional investment opportunity in the upscale neighborhood of Chestnut Hill in Philadelphia. The property consists of two buildings located on vibrant Germantown Avenue, the main business artery in the heart of one of the region+GGs most desirable go-to locations. Fronting Germantown Avenue are two store fronts and five one-bedroom apartments. The rear building, formerly a garage, is approached from a driveway off Springfield Avenue, and contains two one-bedroom apartments. The property has a steady income stream with a historically very low vacancy rate. This factor offers the sharp investor a chance to formulate and achieve the highest and best use of the property, your vision, while maintaining a constant income stream. Most apartments have hardwood floors, high ceilings and great natural light. Particularly appealing to tenants, all but one have a private outdoor area, either a deck or patio. One apartment has its own parking space. The currently occupied store is rented to an upscale resale clothing business. The other store in the past was variously a retail tile store, a dentist's office and a retail plant store. Current rents are low with comparable Chestnut Hill properties and the opportunity for increased income is high. The property is currently zoned two commercial spaces and for 5 residential apartments. Chestnut Hill hosts a wide variety of restaurants, boutique shops, two brew pubs and an upscale boutique hotel, all of which draw high foot traffic all year long to Germantown Ave. Retail exposure is well established in Chestnut Hill. The Avenue has a Fresh Market Grocery Store and a Weavers Way Coop Store. Two highly attended seasonal outdoor festivals occur each year, the Springtime Home and Garden Festival and Autumn Fall for the Arts Festival which bring in thousands of shoppers, revelers, and foodies to the Avenue. Restaurant Week in August, Clover Outdoor Markets, Halloween on the Hill, Stag and Doe Shopping before Christmas are just some of the strong pulls to local businesses. There is a very active Chestnut Hill Business Association. Surrounding Chestnut Hill is the vast City Park System with miles of hiking and biking trails, Morris Arboretum and Chestnut Hill College among many other points of interest. Come see this property on the Avenue in Chestnut Hill for a wonderful chance to be part of the Avenue.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dailey Group | Keller Williams Gateway. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-23T10:53:05.733.
www.thedaileygroup.com/homes/126830418
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7904-6 Germantown Avenue PHILADELPHIA, PA 19118

  • Price: $1,475,000
  • Status: Active Under Contract
  • On Site: 65 Days
  • Updated: 58 min ago
  • ID#: PAPH2088836
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1920
Built
Neighborhood:
19118 (19118)
County:
Philadelphia
Area:
19118 (19118)
Elementary School:
John Story Jenks School
Middle School:
John Story Jenks School
High School:
Germantown
School District:
The School District Of Philadelphia
Property Description
7904-06 Germantown Avenue is an exceptional investment opportunity in the upscale neighborhood of Chestnut Hill in Philadelphia. The property consists of two buildings located on vibrant Germantown Avenue, the main business artery in the heart of one of the region+GGs most desirable go-to locations. Fronting Germantown Avenue are two store fronts and five one-bedroom apartments. The rear building, formerly a garage, is approached from a driveway off Springfield Avenue, and contains two one-bedroom apartments. The property has a steady income stream with a historically very low vacancy rate. This factor offers the sharp investor a chance to formulate and achieve the highest and best use of the property, your vision, while maintaining a constant income stream. Most apartments have hardwood floors, high ceilings and great natural light. Particularly appealing to tenants, all but one have a private outdoor area, either a deck or patio. One apartment has its own parking space. The currently occupied store is rented to an upscale resale clothing business. The other store in the past was variously a retail tile store, a dentist's office and a retail plant store. Current rents are low with comparable Chestnut Hill properties and the opportunity for increased income is high. The property is currently zoned two commercial spaces and for 5 residential apartments. Chestnut Hill hosts a wide variety of restaurants, boutique shops, two brew pubs and an upscale boutique hotel, all of which draw high foot traffic all year long to Germantown Ave. Retail exposure is well established in Chestnut Hill. The Avenue has a Fresh Market Grocery Store and a Weavers Way Coop Store. Two highly attended seasonal outdoor festivals occur each year, the Springtime Home and Garden Festival and Autumn Fall for the Arts Festival which bring in thousands of shoppers, revelers, and foodies to the Avenue. Restaurant Week in August, Clover Outdoor Markets, Halloween on the Hill, Stag and Doe Shopping before Christmas are just some of the strong pulls to local businesses. There is a very active Chestnut Hill Business Association. Surrounding Chestnut Hill is the vast City Park System with miles of hiking and biking trails, Morris Arboretum and Chestnut Hill College among many other points of interest. Come see this property on the Avenue in Chestnut Hill for a wonderful chance to be part of the Avenue.
Exterior Features

Construction Materials MasonryBrickStoneStucco Garage YN No Parking Types Driveway Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 4954.00 Cooling Wall UnitCentral A/CWindow Unit(S) Heating Forced AirBaseboard - Electric Heating YN Yes Net Square Feet 4954.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment BuildingOther/General Retail Central Air YN Yes Cooling Fuel Electric Electric 220 Volts Foundation Details StoneBrick/Mortar Gross Income 96180.00 Heating Fuel ElectricNatural Gas Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 2 Operating Expense Includes ElectricTrashSewerWaterInsurance Original MLSNumber 801371911116 Owner Pays Common Area MaintenanceInsuranceRepairsTaxes - Real EstateTrash Collection Ownership Interest Fee Simple Possession Negotiable Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 8054.00 Tax Assessment Amount 575400.00 Tax Lot N104 Total Actual Rent 96180.00 Utilities Natural Gas AvailableElectric AvailableSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning Cmx1

Listing courtesy of Elfant Wissahickon-Chestnut Hill.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dailey Group | Keller Williams Gateway. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-23T10:53:05.733.
 
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