308 Queen LnPhiladelphia, PA 19144

Property Details for 308 Queen Ln

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.15 AC

Property size (Sq ft)

1,310 SF

Zone code

CMX2.5

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

87-1-5177-20

APU

871517720

Description

This exceptional mixed-use property in Philadelphia's desirable Germantown neighborhood presents a unique investment opportunity. The recently renovated (2023) duplex features two units: a one-bedroom, one-bathroom unit with outdoor space and parking, and a two-bedroom, one-bathroom unit, also with parking. Both units boast hardwood floors, spacious bedrooms, quartz countertops, and ample white cabinetry. Potential rental income is estimated at $1,400 and $1,600 per month, respectively. Adding to the property's versatility is a substantial approximately 2,000 square foot warehouse located in the fenced backyard. While requiring some finishing work, this warehouse offers significant potential for storage, distribution, or production uses, providing additional income streams or the opportunity for owner-occupancy. The duplex also includes an unfinished basement providing extra storage. The property is conveniently located near major highways, and benefits from the vibrant Germantown community, with easy access to restaurants, bars, grocery stores, parks, and coffee shops. The property is zoned CMX 2.5. This is an ideal investment for those seeking a blend of residential and commercial income potential. The asking price is $575,000.

• CAP approach

  CAP return

  Valuation

  6%

  $216,582

  6.5%

  $199,922

  7%

  $185,642

• Comparable approach

  Method

  Valuation

  Relative Method

  $171,165

  Geo Method

  $171,165

• Alternative Use

  Use

  Valuation

  Residential

  $247,903

  Hospitality

  $227,078

  Educational

  $188,926

  Medical

  $195,424

  Retail

  $293,885

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0261

Longitude

-75.1738

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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