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    4714 Griscom St Philadelphia, PA 19124

    For Sale
    $350,000

    3,500 sq ft, high-potential rental property

    Property size:
    3,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This 3,500 square foot multifamily property at 4714 Griscom St, Philadelphia, PA 19124, is a unique value-add investment opportunity. Currently undergoing renovation, the building offers significant upside potential. The framing is complete, along with new windows, rough plumbing, and rough electrical work. Insulation is currently in progress. Architectural plans are finalized and available. The property's flexible design allows for various configurations, including a five-unit apartment building (zoning variance required), a four-unit apartment building, or a large single-family home suitable for group housing. As a five-unit building, conservative rental projections estimate a total monthly income of $7,300, or $87,600 annually. Alternatively, configured as a group home, the property could command over $7,000 monthly rent. The current asking price is $350,000, with potential price adjustments as renovations progress. The estimated cost to complete the remaining work is between $100,000 and $160,000. This property presents a compelling opportunity for investors seeking a high-yield return. A conservative income-based valuation estimates an after-repair value (ARV) exceeding $850,000, suggesting a strong potential for significant appreciation. The property is being sold by owner.

    Property Features for 4714 Griscom St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,500 SF

    HighLights

    • 3,500 SF multifamily property at 4714 Griscom St, Philadelphia, PA 19124.
    • Under renovation with framing, windows, rough plumbing, and electrical complete; insulation in progress.
    • Flexible design allows for 5‑unit apartment building (zoning variance required), 4‑unit building, or large single‑family home.
    • Projected annual income: $87,600 (5‑unit) or over $84,000 annually (group home).
    • Asking price: $350,000; $100,000-$160,000 estimated remaining renovation costs.
    • After‑repair value (ARV) estimated to exceed $850,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.084476956955
    Latitude
    40.017339841706

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    FAQs

    What type of property is this?
    Multifamily property - 3,500 sq ft, high-potential rental property
    Where is this multifamily property located?
    The property is located at 4714 Griscom St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: 3,500 SF multifamily property at 4714 Griscom St, Philadelphia, PA 19124.; Under renovation with framing, windows, rough plumbing, and electrical complete; insulation in progress.; Flexible design allows for 5-unit apartment building (zoning variance required), 4-unit building, or large single-family home.
    (484) 922-9710
    Request Owner's contact information
    4714 Griscom St Philadelphia, PA 19124
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    Philadelphia, PA 19124
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4714 Griscom St Philadelphia, PA 19124
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