1853-55 Hoffman St Philadelphia, PA 19145
- Retail properties
- 977 SF
Current Use by Public Records
- Retail properties
Property Details for 1853-55 Hoffman St
- Property size
- 977 SF
- Property type
- Retail properties
Description
This exceptional three-unit property at 1853-55 Hoffman Street in Philadelphia, PA, presents a compelling investment opportunity. Priced at $990,000, it boasts a strong 8% cap rate, with estimated annual income of $80,400 and expenses of $5,000. A significant tax abatement is locked in until October 31, 2030, further enhancing its financial appeal. The building features a mix of commercial and residential space, offering flexibility for owner-occupancy or purely as an investment. The ground floor unit, approximately 1,949 square feet, is a bi-level space previously used as a daycare center, featuring multiple private rooms, two bathrooms, and a modern kitchen with quartz countertops and stainless-steel appliances. It also includes access to a private yard and a lower level with additional rooms and bathrooms, plus laundry facilities. Units two and three are each spacious two-bedroom, two-bathroom apartments, each approximately 977 and 1024 square feet respectively, also boasting modern kitchens, ample closet space, in-unit laundry, and central air conditioning. A shared rooftop terrace offers stunning city views. All units have separately metered utilities. The property enjoys a prime location within walking distance of major medical facilities, tech hubs, educational institutions, and city amenities. It's also conveniently located a 10-minute drive from Philadelphia's sports venues and I-95, providing easy access to New York, Delaware, and New Jersey. The seller is open to selling the property either vacant or occupied.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1771
- Latitude
- 39.9275
