3204 Vare Ave, Philadelphia, PA 19145
- $2,000,000
- List Price
- $2,000,000
- Price Change
- ▼ $500,000 1749509358
- Days on Market
- 606
- Status
- PENDING
- MLS#
- PAPH2424392
- Lot Size (Acres)
- 0.55
- Year Built
- 1950
- County
- Philadelphia
- School District
- The School District Of Philadelphia
Property Description
Construction has begun in the rapidly developing Bellwether District. This property offers a rare investment opportunity featuring two street-to-street parcels totaling approximately 0.55 acres with multiple income streams.The ±4,800 SF warehouse is leased on a yearly basis for $4,500 per month and includes a kitchen area and three overhead doors. The adjoining lot is rented for $1,500 per month. In addition, a V-sign on the property produces $2,041.67 per month, with approximately 3.5 years remaining on the lease. The sign company also contributes $9,800 annually toward real estate taxes.Total monthly income is $8,041, with $9,800 per year in tax reimbursement. There is potential to convert the sign to digital, which could significantly increase rent and property value.Located along one of Philadelphia’s highest-traffic corridors near I-676, this property is positioned for continued growth and long-term appreciation within the expanding Bellwether District.
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Additional Information
- Area
- 19145 (19145)
- Subdivision
- Philadelphia (South)
- Taxes
- $13971
- School District
- The School District Of Philadelphia
- Heating
- Baseboard - Electric, Other
- Heating Fuel
- Electric
- Cooling
- Wall Unit
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of KW Empower. Contact: vicki@kwempower.com