1425 Frankford Ave Philadelphia, PA 19125-4474

Property Details for 1425 Frankford Ave

Year built

1920

Lot size

0.02 lot acres

Zone code

CMX2

Property type

Parking lots & garages

APN

87-1-4035-20

APU

871403520

Description

This 4,000 square foot mixed-use building, constructed in 2019, sits on a 0.02-acre lot at 1425 Frankford Avenue in Philadelphia, PA 19125. The property comprises three residential units and one commercial unit currently leased to a fast-casual restaurant. The commercial space generates $4,000 per month in net rent under a five-year lease with a five-year renewal option, featuring rent increases after three years. Residential unit A rents for $1,595 per month, unit C for $1,600 per month, while unit B is currently vacant but projected to rent for approximately $1,600 per month. The total gross monthly income is $8,795, equating to $105,540 annually. Annual real estate taxes are $1,616, benefiting from approximately five years remaining on a tax abatement. Operating expenses include $45 monthly for common area PECO, approximately $190 monthly for Philadelphia Water Company services, and $7,500 annually for insurance. The building features a wet sprinkler system. The commercial unit utilizes gas, while the residential units are electrically powered. This property presents a compelling investment opportunity in a vibrant Philadelphia location.