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700 W Ritner St
For Sale $623,000
$623,000
- 3 Units
- Unknown Sq Ft
- 2,178 Sq Ft
- Unknown Cap Rate
Description
Laundromat Business & Multi-Family Property located in the most desirable Prime South Philadelphia Location. This exceptional opportunity presents the acquisition of a thriving Laundromat business alongside two strategically located buildings(700 Ritner #871554970 CMX1 & 702 Ritner # 871554980 CMX2 )in the highly desirable South Philadelphia neighborhood.
Laundromat Business: Well-established and consistently profitable. Equipped with 18 high-quality washers and 27 dryers. Generates substantial gross annual sales exceeding $53,000. Offers immediate cash flow and a strong return on investment. Owner-occupied, providing valuable operational insights and flexibility.
Real Estate: Two separate buildings (700 Ritner #871554970 CMX1 & 702 Ritner # 871554980 CMX2) offering significant potential. Includes two income-generating apartments currently occupied with a combined monthly rental income of $1,800. Features a full basement in the Laundromat building, providing valuable storage and expansion possibilities.
Investment Highlights: Diversified income streams from both the Laundromat business and rental units.
Prime location in a densely populated and rapidly growing neighborhood. Strong potential for rental income growth and business expansion. Ideal for both owner-operators and investors seeking a stable and profitable asset.
All interested buyers must submit proof of funds to demonstrate their financial capacity to proceed with the showing and purchase. Please do not disturb employees during business hours.
This is an exceptional opportunity for a savvy investor or entrepreneur to acquire a valuable asset with significant growth potential.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $623,000 |
| Property Type | Flex Space |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1925 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 871554970 |
| MLS # | PAPH2396364 |
| Property ID | 320846834 |
| Lot Sqft | 2,178 |
| Zoning | CMX1 & CMX2 |
| Total Units | 3 |
| Days on Market | 145 |
| Original List Price | Unknown |
| Date Updated | January 25, 2025 |
| Date Created | September 11, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Paul P Cheng an agent of . Lic #AB068536
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Data last updated: February 03, 2025.
Robert Crawford
REAL ESTATE AGENT