2214 SOUTH ST, Philadelphia, PA 19146 – PAPH2415946

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,736 sqft

Price per Sqft $356

Subdivision Graduate Hospital

MLS Listing ID PAPH2415946

Style Other

Abv Grd Liv Area 2,736

Originating Board BRIGHT

Year Built 1915

Annual Tax Amount $9,562

Tax Year 2024

Lot Size 1,200 Sqft

Acres 0.03

Lot Dimensions 16.00 x 75.00

Property Description

On behalf of Ownership, GREA is pleased to exclusively offer the opportunity to acquire the fee simple interest in 2214 South Street located in the Graduate Hospital section of Southwest Center City Philadelphia. The property comprises 4 apartment units with (2) studio and (2) one-bedroom floor plans. In addition, there is ±1,000 square feet of commercial space on the ground floor occupied by Falafel Time, a popular restaurant featuring quick service dishes with a Middle Eastern twist.
The South Street property presents new ownership with the opportunity to perform a value-add renovation plan to the apartment units and common hallways to increase rents. The property would then be repositioned to a luxury apartment product that attracts young professionals looking for proximity to Center City Philadelphia at an affordable price point.
In the middle of it all, the property serves a growing tenant base looking for a location surrounded by restaurants, cafes, boutique shops, and nightlife. Tenants can run, walk, or ride their bikes on the popular Schuylkill River Trail, access University City via the South Street Bridge, or stroll into Center City in minutes.
The property is located minutes from major highway routes such as Interstates 76, 676, and 95 presenting unparalleled access throughout the Philadelphia MSA. Furthermore, tenants are a short walk into Center City and University City, home to major employers such as Comcast, Aramark, Penn Medicine, CHOP, the University of Pennsylvania, and Drexel University.
2214 South Street provides new ownership with the prospect of acquiring a quality, mixed-use property that both has and will continue to perform well into the future.

Location

State PA

County Philadelphia

Area 19146 (19146)

Zoning CMX2

Rooms

Basement Full

Interior

Hot Water Natural Gas

Heating Central

Cooling Central A/C

Fireplace N

Heat Source Natural Gas

Exterior

Waterfront N

Water Access N

Accessibility None

Parking Type On Street

Garage N

Building

Foundation Other

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade,Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 871136650

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard