5542 Larchwood Avenue
Philadelphia, PA, 19143 $ 5,250,000
Baths0.0 Sq 43,500 Monthly Estimate*
$ 34,893
Studio
for $5,250,000. This 43,500 square foot building was built in 1920.
A fantastic opportunity to acquire a premium, fully occupied, and well managed portfolio of 31 single-family properties centered in and around the burgeoning Cobbs Creek neighborhood in West Philadelphia. All 31 parcels are situated in a tight geographic area ideal for management and enhanced economies of scale. In a red hot neighborhood with some under-valued rents and significant capital appreciation opportunity. If desired, enjoy the flexibility to improve and/or spin-off certain assets and hold the rest. Professionally managed package (property manager can remain, at buyers option). These fully occupied 31 townhomes present an advantageous investment opportunity in a rapidly improving West Philadelphia neighborhood, close to amenities, public transportation, Cobbs Creek Trail, and other developments. Inclusive of those developments is a $65 million commitment by the city of Philadelphia, The Cobbs Creek Foundation, and The TGR Foundation (founded by Tiger Woods) to revamp the existing golf course (Philadelphia's oldest course), enhance the public space, and create an educational campus for local youth. The Cobbs Creek Environmental Center has also planned significant improvements. NOTE--24 3BR homes, six 4BR homes, one 5BR home. The full 31-property portfolio includes (with their OPA Account #s): 131 N 55th Street (0411588000). 1410 N Hirst Street, (342327100). 1517 N 56th Street, (041349500). 1531 N Robinson Street, (342274100). 1633 N 60th Street, (3421960001234). 1847 S 54th Street, (512085600). 516 S 59th Street, (032198600). 5355 Irving Street, (603054300). 5513 Irving Street, (604057300). 5542 Larchwood Avenue, (463004200). 5624 Rodman Street, (463031900). 5639 Montrose Street, (463141400). 5642 Broomall Street, (513114000). 5717 Addison Street, (604126500). 5731 Rodman Street, (463029200). 5734 Rodman Street, (463035200). 5745 Addison Street, (604127900). 5752 Pemberton Street, (463072700). 5757 Walton Street, (463081300). 5787 Stewart Street, (043219500). 5816 Washington Avenue, (033113800). 5825 Angora Terrace, (034019500). 5837 Hoffman Avenue, (034039100). 5908 Christian Street, (033063200). 5910 Webster Street, (033030300). 6021 Christian Street, (033053800). 6037 Irving Street, (031103100). 6111 Irving Street, (031104700). 6137 Locust Street, (031089100). 629 N Frazier Street, (043062900). 651 N Peach Street, (442340800).
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FeaturesInteriorHeating Fuel Natural Gas Other
Hot Water Natural Gas Other
Heating Y/N Y
Street Suffix AVENUE
Central Air Y/N N
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GeneralSewer Public Sewer
Heating Other
Cooling Other
Possession Other
Zoning RSA-5
Construction Materials Brick
Exclusions Tenants' property.
Year Built 1920
Property SubType Five Or More Units
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Other
Municipality PHILADELPHIA
Business Type Apartment Building Other
Accessibility None
County PHILADELPHIA
Net Operating Income 455660.79
Insurance Expense 23722.00
New Construction N
Property Type Commercial Sale
Subdivision Name COBBS CREEK
Water Access Y/N N
Status ACTIVE
Directions 35 property package. Contact Co-Listing Agent Martin Goldfarb for the property list and showing instructions.
City PHILADELPHIA
Buyer Agent Compensation 2.5
MLS Area 19143 (19143)
Lot Size Square Feet 0.00
Waterfront Y/N N
Street Name LARCHWOOD
Tax Annual Amount 51721.21
Electric Expense 0.00
Fuel Expense 0.00
Trash Expense 0.00
Price Per Sq Ft 120.69
Association Fee 0.00
Vacation Rental Y/N N
Days on Market 363
Standard Status Active
Year Built Source Estimated
Total Actual Rent 548604.00
Cap Rate 6.51
Buyer Agent Compensation Type % Of Gross
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ExteriorWater Source Public
Inclusions All appliances.
Type of Parking On Street
Water View Y/N N
Building Area Total 43500.00
Lot Size Acres 0.00
Lot Size Units Square Feet
Lot Size Source Estimated
Navigable Water Y/N N
Water Oriented Y/N N
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* Excluded FeaturesList ByCompass Pennsylvania, LlcBroker
jeff@jeffcityblock.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $34,893
- Monthly Property Taxes
- $4,310
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Philadelphia, PA
Average List Price $981,711
Percent of Sale Price 81%
About Philadelphia, PA 1,588,239 Population
5% Since 2002
$ 42,223 Median Income
36 Median Age
24% Households with Children
Trends Information provided by ATTOM Data Solutions.
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/26/2024 | $5,250,000 | -7.89% | Price Down |
11/9/2023 | $5,700,000 | -12.31% | Price Down |
9/17/2023 | $6,500,000 | -7.14% | Price Down |
5/4/2023 | $7,000,000 | | Listed Price |