Patterson-Schwartz Real Estate4714 Griscom Street, Philadelphia, PA 19124-5815 $324,900
Interior Sq. Ft: 2,528
Acreage: 0.05
Age:85 years
Taxes: $3,838
Subdivision: Frankford
Design/Type:
Detached
Description
Rare opportunity to finish a building with 13%++ cap rate!! Unlock the potential of this value-add property, where the heavy lifting of renovations has already been completed, all major structural work done- framing, windows, rough plumbing, and electrical. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as a group-housing of 12 bedrooms. Currently zoned as RSA5, previously was zoned as multi-unit, up to 5 units. ARV $850k++ Development Options: ================= - 5-Unit Apartment Building: Requires zoning variance, previously configured as multi-unit. - 4 Units, Triplex, or Duplex: Choose the layout that suits your investment strategy. - Single-Family Group Housing: NO NEED FOR VARIANCE- Up to 12 bedrooms, perfect for high-rent group setups like transitional or veteran housing. Projected Rents: In any configuration, the total potential income (conservative estimate) $7,300/mo or $87,600 annually!: ================= - Multi-Family (5 Units): Around $1,450 to $1,500 per unit per month - Group Housing: organizations will pay over $8k a month for a 12BRs property. Remaining Work (Estimated Cost $120,000 to $160,000): ================= - Install HVAC. - Hang drywall. - Paint and lay down flooring. - Fit out kitchens and bathrooms. The building was zoned previously as multi-unit and is sold as-is, blueprints are attached
Home Assoc: No
Condo Assoc: No
Basement: Y
Pool: No Pool
Features
Utilities
Heating - None, None, None, None, Hot Water - None, Public Water, Public Sewer
Garage/Parking
Off Street
Interior
Full Basement, Rear Entrance Basement, Side Entrance Basement, Basement - Space For Rooms, Unfinished Basement, Unfinished Walls
Exterior
Brick/Mortar Foundation, Asphalt Roof, Brick Exterior, Brick Front Exterior, Masonry, Stucco Exterior
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Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
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Public Elementary (104 schools)
Public Middle (24 schools)
Public High (40 schools)
Private (74 schools)
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This report is a detailed community overview for Philadelphia (19124), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 37
- Average salary of people in this community: $35,625
Community Summary
- Population Density (ppl / mile): 14,319
- Household Size (ppl): 3.09
- Households w/ Children: 101%
Housing Inventory
- Owned: 12,223 (47.9%)
- Rented: 10,386 (40.7%)
- Vacant: 2,883 (11.3%)
- Total: 25,492
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 9.3%
- Some High School: 14.7%
- High School Graduate: 44.0%
- Some College: 14.9%
- Associate Degree: 6.5%
- Bachelor's Degree: 7.2%
- Graduate Degree: 3.4%
Income by dollar range
Median Income: $33,611
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $747
- One Bedroom: $748
- Two Bedroom: $910
- Three Bedroom: $1,045
- Four Bedroom: $1,188
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Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-292-6689
Listing Courtesy of: BHHS Fox & Roach-Haverford , (610) 649-4500
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
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Listing data as of 3/15/2025.
