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2214 South St
For Sale $975,000
$975,000
- 5 Units
- Unknown Sq Ft
- 1,200 Sq Ft
- Unknown Cap Rate
Description
On behalf of Ownership, GREA is pleased to exclusively offer the opportunity to acquire the fee simple interest in 2214 South Street located in the Graduate Hospital section of Southwest Center City Philadelphia. The property comprises 4 apartment units with (2) studio and (2) one-bedroom floor plans. In addition, there is ±1,000 square feet of commercial space on the ground floor occupied by Falafel Time, a popular restaurant featuring quick service dishes with a Middle Eastern twist.
The South Street property presents new ownership with the opportunity to perform a value-add renovation plan to the apartment units and common hallways to increase rents. The property would then be repositioned to a luxury apartment product that attracts young professionals looking for proximity to Center City Philadelphia at an affordable price point.
In the middle of it all, the property serves a growing tenant base looking for a location surrounded by restaurants, cafes, boutique shops, and nightlife. Tenants can run, walk, or ride their bikes on the popular Schuylkill River Trail, access University City via the South Street Bridge, or stroll into Center City in minutes.
The property is located minutes from major highway routes such as Interstates 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are a short walk into Center City and University City, home to major employers such as Comcast, Aramark, Penn Medicine, CHOP, the University of Pennsylvania, and Drexel University.
2214 South Street provides new ownership with the prospect of acquiring a quality, mixed-use property that both has and will continue to perform well into the future.
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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 | $975,000 |
| Property Type | Flex Space |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1915 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 871136650 |
| MLS # | PAPH2415958 |
| Property ID | 321009833 |
| Lot Sqft | 1,200 |
| Zoning | CMX2 |
| Total Units | 5 |
| Days on Market | 81 |
| Original List Price | Unknown |
| Date Updated | December 17, 2024 |
| Date Created | October 31, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Moshe Adika an agent of . Lic #RS362800
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Data last updated: January 20, 2025.
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