417 W QUEEN LN Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19144
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 4,565 sqft
Price per Sqft $125
Subdivision Germantown (West)
MLS Listing ID PAPH2357994
Style Other
Abv Grd Liv Area 4,565
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $4,497
Tax Year 2024
Lot Size 5,773 Sqft
Acres 0.13
Lot Dimensions 25.00 x 231.00
Property Description
Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25’x230’ lot lot, generating approximately $68,000 annually with $12,000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning RSA5
Rooms
Basement Unfinished
Interior
Hot Water Electric
Heating Other
Cooling Window Unit(s)
Fireplace N
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade,Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 124006701
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash,Conventional,FHA 203(k)
Listing Terms Cash,Conventional,FHA 203(k)
Financing Cash,Conventional,FHA 203(k)
Special Listing Condition Standard