4714 GRISCOM ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19124
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 3,750 sqft
Price per Sqft $79
Subdivision Frankford
MLS Listing ID PAPH2452610
Style AirLite
Year Built 1940
Annual Tax Amount $3,838
Tax Year 2025
Lot Size 2,290 Sqft
Property Sub-Type Detached
Property Description
Rare opportunity to finish a building with 13%++ cap rate!!
Unlock the potential of this value-add property, where the heavy lifting of renovations has already been completed, all major structural work done- framing, windows, rough plumbing, and electrical. The current framing that has been completed enables various uses, from 5 apartments (zoning variance is required), to 4 apartments, triplex, duplex, down to extra-large single that can be used as a group-housing of 12 bedrooms.
Currently zoned as RSA5, previously was zoned as multi-unit, up to 5 units.
ARV $850k++
Development Options:
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- 5-Unit Apartment Building: Requires zoning variance, previously configured as multi-unit.
- 4 Units, Triplex, or Duplex: Choose the layout that suits your investment strategy.
- Single-Family Group Housing: NO NEED FOR VARIANCE- Up to 12 bedrooms, perfect for high-rent group setups like transitional or veteran housing.
Projected Rents:
In any configuration, the total potential income (conservative estimate) $7,300/mo or $87,600 annually!:
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- Multi-Family (5 Units): Around $1,450 to $1,500 per unit per month
- Group Housing: organizations will pay over $8k a month for a 12BRs property.
Remaining Work (Estimated Cost $120,000 to $160,000):
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- Install HVAC.
- Hang drywall.
- Paint and lay down flooring.
- Fit out kitchens and bathrooms.
The building was zoned previously as multi-unit and is sold as-is, blueprints are attached
Location
State PA
County Philadelphia
Area 19124 (19124)
Zoning RESID
Interior
Hot Water None
Heating None
Cooling None
Exterior
Water Access N
Roof Type Asphalt
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Structure Type Unfinished Walls
New Construction N
Schools
School District Philadelphia City
Others
Acceptable Financing Cash,Variable
Listing Terms Cash,Variable
Special Listing Condition Standard