4714 Griscom St Philadelphia, PA 19124
- Residential income homes
- 3,500 SF
Current Use by Public Records
- Residential income homes
Property Details for 4714 Griscom St
- Property size
- 3,500 SF
- Property type
- Residential income homes
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.084476956955
- Latitude
- 40.017339841706
