Views
Listed By:
RE/MAX @ HOME
Address
246 Market Street, Philadelphia, PA
Price
$ 1,250,000
Property Attributes
  • MLS#PAPH2343996
  • TypeMulti-Family
  • CountyPHILADELPHIA
  • CityPhiladelphia
  • Area19106
  • NeighborhoodOld City
  • Zip19106
  • StyleUnit/Flat
  • Year Built1900
  • Taxes$ 11919
  • Price$ 1,250,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size2,178 SqFt
Data Source:
Bright MLS
Property Description

This magnificent architectural masterpiece, prominently positioned on Market Street in Old City, presents a rare opportunity for development in a bustling urban locale. Boasting an impressive facade that floods both floors with natural light, this property offers the perfect opportunity to transform this commercial building into a mixed-use multi-family investment. Currently configured as a bar/restaurant, this expansive space is approximately 6,300 square feet. The width of the property is a generous 22 Ft and goes as far back as 99 Ft making the lot size 2,178 Sq/Ft. The current zoning is CMX-3 which allows by right for you to develop this into 8 total units - 1 commercial unit on the 1st floor and 7 residential units. This development will require for two addition stories to be added in order to fit all of the units comfortably. With the city 's plan of building a Park Cap over I-95 this can be the perfect opportunity to buy in the neighbor before prices increase dramatically. With the plan of developing this into a mixed-use multifamily cash flowing building and holding onto it for the long term can create tons of equity for generations to come. This location enjoys easy access to public transportation via the MFL Frankford Transportation Center to 69th St Transportation Center at the 2nd St Station - MFL stop. With a Walk Score of 100, transit score of 100, and Bike Score of 84, this area is a paradise for pedestrians, commuters, and cyclists alike. Surrounded by essential services such as CVS Pharmacy, the US Post Office, and various local businesses, this property offers endless possibilities for development. Don't miss out on this prime opportunity - schedule a viewing today before it's too late!

Price History
4/22/2024 Listed $1,250,000

General Features

Sewer Public Sewer
Heating Heat Pump(s)
Cooling Central A/C
Possession Immediate
Exterior Features Sidewalks,Street Lights
Zoning CMX-3
Pool Y/N No Pool
Architectural Style Unit/Flat,Other
Security Features Carbon Monoxide Detector(s),Smoke Detector,Sprinkler System - Indoor,Fire Detection System,Main Entrance Lock
Construction Materials Masonry
Year Built 1900
View City,Street,Scenic Vista
Property SubType Other
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel Natural Gas
Accessibility None
County PHILADELPHIA
New Construction No
Property Type Multi-Family
Subdivision Name OLD CITY
Garage Y/N No
Water Access Y/N No
Other Structures Above Grade
Status ACTIVE
Directions Coming from the south side of S 3rd St go straight and turn right to Market St. The property will be on the right,right after Citizens Bank.
ModificationTimestamp 2024-04-22T17:47:36
City PHILADELPHIA
Buyer Agent Compensation 3
Total Units 1
MLS Area 19106 (19106)
Lot Size Square Feet 2178.00
Tax Assessed Value 851500.0
Waterfront Y/N No
Street Name MARKET
Tax Annual Amount 11919.0
Home Warranty Y/N No
Property Condition Very Good
Structure Type Other
Price Per Sq Ft 198.41
Acceptable Financing Cash,Conventional,Other
Historic Y/N No
Vacation Rental Y/N No
Virtual Tour https://view.ricoh360.com/85d79731-0402-42d6-92b9-bb19dee9738e
Total SQFT 6300
Days on Market 9
Location Type Urban
Standard Status Active
Year Built Source Estimated
Tax Lot 11
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Natural Gas
Basement Fully Finished
Hot Water Multi-tank
Basement (Y/N) Yes
Heating Y/N Yes
Fireplace Y/N No
Street Suffix STREET
Central Air Y/N Yes
LivingAreaSource Estimated

Exterior Features

Lot Features Road Frontage
Water Source Public
Type of Parking On Street
Land Use Code IB0
Spa No
Water View Y/N No
Lot Dimensions 22.00 x 100.00
Lot Size Acres 0.05
Lot Size Units Square Feet
Lot Size Source Estimated
Land Assessed Value 170291.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Estimated

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 19106

Price
AVG $1.57M
$1.25M
Taxes
AVG $16,228
$11,919
Visits
AVG 296
58
Data Provided by Inside Real Estate®
Year Built
AVG 1875
1900

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