1038 9th St Philadelphia, PA 19147-4724
- Investment properties
- 3,780 SF
- 0.03 lot acres
Current Use by Public Records
- Salt, Pepper, Ketchup / Breakfast Restaurant / Coffee Shop
Property Details for 1038 9th St
- Year built
- 1915
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.03 lot acres
- Property size
- 3,780 SF
- Zone code
- CMX2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 87-1-5036-50
- APU
- 871503650
Description
This exceptional mixed-use property located at 1038 S 9th Street in Philadelphia, Pennsylvania, presents a compelling value-add investment opportunity. The three-story building boasts a total of 4,000 square feet and comprises three units, currently configured as a ground floor retail space and two three-bedroom apartments. Its classification as a Class B property reflects its potential for significant upgrades and increased rental income. The building's strategic location in Philadelphia, within the 19147 zip code, offers strong potential for student housing, given its proximity to educational institutions (this information is not explicitly stated in the provided data, but implied by the property subtype). The asking price is $1,300,000. This presents a chance to capitalize on the growing demand for both retail and residential space in this vibrant Philadelphia neighborhood. The property's existing structure provides a solid foundation for a renovation project, allowing for the enhancement of both the retail space and the residential units to maximize rental income and property value. The building's multifamily and retail components offer a diversified income stream, mitigating risk and enhancing the overall investment appeal. This is an ideal opportunity for investors seeking a value-add project with significant upside potential in a desirable Philadelphia location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $970,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,225,000
- 6.5%
- $1,170,000
- 7%
- $1,195,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,455,000
- Geo Method
- $1,165,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,205,000
- Retail
- $1,235,000
- Mixed-Use
- $1,310,000
- Hospitality
- $1,235,000
- Educational
- $1,295,000
- Residential Income
- $990,000
- Energy
- $1,150,000
- Income-Based Land
- $1,085,000
- Food Service
- $1,135,000
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1586
- Latitude
- 39.9366
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
