Description
One of the original brownstones in Old City - an investor dream! Best location in town: Chestnut St and 2nd St - in the middle of Everything: tourism, bars and restaurants, boutiques - all that Philly has to offer - in this most visited square mile in the U.S. Rare opportunity to own a combination of residential and commercial building. You may keep the Deli/Convenient store running or replace it with any other business. The three apartments at upper floors need a full renovation and then they will easily rent for 2500.00 $/mo. The commercial space can be leased out for 5000.00 $/mo. Prime investment opportunity in the heart of Philadelphia at the corner of Chestnut and 2nd streets: four-floor brownstone. The commercial space at the ground level and basement (currently DELI/Convenient store) may be rented out at $5000/mo. Currently,the owner is managing the successful Deli but will move out after sale. The three apartments upstairs need major renovation since they have not been used for 30 years. After renovation, they will bring $2000-2500/mo each. The foot traffic of this location is the highest in Philadelphia being close to the historic touristic area and on the path to Penn's Landing Parks and entertainment. 10.34% cap pro forma (if buyer chooses to rent out ground floor + basement).
