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Description

Welcome to 5562 Chancellor Street in the heart of WEST PHILLY. This historic neighborhood staple is zoned CMX2 (Commercial Mixed Use) and has a variety of uses. The building has been used as a convenience store for many years and doesn't appear to be changing any time soon. This building has long time tenants who use the main floor as their business and reside in 2nd floor 2 bedroom apartment with separate entrance. The first floor consists of a convenience store that is open 7 days a week with access to the basement. The second floor consist of an updated 2 bedroom apartment with 1 bathroom, a full kitchen with pantry and a modest sized living room with exposed brick chimney. Between the tenants and the owner this building is in great shape and is the true definition of a turnkey investment property. You can't go wrong with property taxes less than $1,000 for 2021 further minimizing the operational costs. Located in between Locust Street and Walnut Street it is conveniently located along the G Bus Route and the 21 Bus Routes located on Walnut and Chestnut Streets and is no more than 3 blocks away from the 56th Street Terminal to the Market-Frankford train line. 2.5 miles from 30th Street station and I-76; super easy access to Center City. About 10-15 minutes from Delaware County and about 20 minutes from Philadelphia International Airport. It only makes sense to come and take a tour of the property while it's still available!Tenant pays $1,350 per month and occupies both units. There are 7 years remaining on the tenants lease. Each year the tenants rent increases $50.00 so in the final year tenant will be paying $1,650. Tenant pays Gas, Electric and Water per the leases agreement. Owner pays Taxes and for building insurance.

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©2021 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 Paula Cashion | Keller Williams Central Delaware. 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: 2021-09-16T22:52:07.57.
www.paulacashion.com/homes/117962899
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5562 Chancellor Street PHILADELPHIA, PA 19139

  • Price: $350,000
  • Status: Active
  • Updated: 28 min ago
  • ID#: PAPH1025356
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1925
Built
Neighborhood:
West Philadelphia
County:
Philadelphia
Area:
19139 (19139)
Elementary School:
Andrew Hamilton
High School:
West Philadelphia
School District:
The School District Of Philadelphia
Property Description
Welcome to 5562 Chancellor Street in the heart of WEST PHILLY. This historic neighborhood staple is zoned CMX2 (Commercial Mixed Use) and has a variety of uses. The building has been used as a convenience store for many years and doesn't appear to be changing any time soon. This building has long time tenants who use the main floor as their business and reside in 2nd floor 2 bedroom apartment with separate entrance. The first floor consists of a convenience store that is open 7 days a week with access to the basement. The second floor consist of an updated 2 bedroom apartment with 1 bathroom, a full kitchen with pantry and a modest sized living room with exposed brick chimney. Between the tenants and the owner this building is in great shape and is the true definition of a turnkey investment property. You can't go wrong with property taxes less than $1,000 for 2021 further minimizing the operational costs. Located in between Locust Street and Walnut Street it is conveniently located along the G Bus Route and the 21 Bus Routes located on Walnut and Chestnut Streets and is no more than 3 blocks away from the 56th Street Terminal to the Market-Frankford train line. 2.5 miles from 30th Street station and I-76; super easy access to Center City. About 10-15 minutes from Delaware County and about 20 minutes from Philadelphia International Airport. It only makes sense to come and take a tour of the property while it's still available!Tenant pays $1,350 per month and occupies both units. There are 7 years remaining on the tenants lease. Each year the tenants rent increases $50.00 so in the final year tenant will be paying $1,650. Tenant pays Gas, Electric and Water per the leases agreement. Owner pays Taxes and for building insurance.
Exterior Features

Construction Materials Masonry Garage YN No Parking Types On Street Property Condition Very Good Riparian Rights YN No Roof Flat Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 2752.00 Cooling Window Unit(S) Heating Radiator Heating YN Yes Net Square Feet 2752.00

Property Features

Acceptable Financing FhaCashConventionalVa Accessibility Features 2+ Access Exits Assessment Year 2021 Association YN No Business Type Convenience Store/Gas Central Air YN No Cooling Fuel None Cross Street S. 56th Street Heating Fuel Natural Gas Hot Water Natural Gas Insurance Expense 2000.00 Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 2 Operating Expense 3000.00 Original MLSNumber 304643538731 Other Expense 1000.00 Owner Pays InsuranceTaxes - Real Estate Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 890.00 Tax Assessment Amount 63600.00 Tax Lot 50 Utilities Cable Tv AvailableElectric AvailableNatural Gas AvailableSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning Cmx2

Listing courtesy of United Real Estate.


©2021 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 Paula Cashion | Keller Williams Central Delaware. 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: 2021-09-16T22:52:07.57.
 
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Paula Cashion | Keller Williams Central Delaware
1671 S. State Street
Dover DE, 19901