3847 TERRACE ST Under Contract Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19128
Key Details
Property Type Townhouse
Sub Type End of Row/Townhouse
Listing Status Under Contract
Purchase Type For Sale
Square Footage 2,918 sqft
Price per Sqft $198
MLS Listing ID PAPH2470658
Style Traditional
Year Built 1900
Annual Tax Amount $5,039
Tax Year 2024
Lot Size 1,569 Sqft
Property Sub-Type End of Row/Townhouse
Property Description
Located just blocks away from the vibrant retail and dining scene on Main Street and Ridge Avenue, this prime corner building offers a fantastic investment opportunity in one of Philadelphia's most sought-after neighborhoods. With a total of 2,918 square feet, this mixed-use property combines residential and retail space, making it an ideal choice for investors looking to capitalize on both long-term rental income and the potential for a thriving retail business. The first-floor retail space, previously a successful restaurant tavern, comes with a commercial kitchen space and hood system, walk-in cooler, bar layout and seating for 40-60 patrons. The property comes with the potential to acquire a liquor license, which will be sold separately from the property itself. This license allows for full-service alcohol service, including outdoor seating, offering tremendous flexibility for a bar or restaurant business. The CMX1 zoning permits additional uses including a deli/grocery store, daycare facility, boutique, financial services, pet store, or medical practice. Above the retail space, there are two newly renovated 1-bedroom apartments on the 2nd and 3rd floors, each featuring modern updates including new flooring, stainless steel appliances, a washer and dryer in each unit and stylish new bathrooms. Located in a high-demand, thriving neighborhood, this mixed-use property is an excellent investment with great potential for both rental income and business ventures.
Location
State PA
County Philadelphia
Area 19128 (19128)
Zoning CMX1
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Central A/C
Exterior
Water Access N
Roof Type Flat
Building
Foundation Concrete Perimeter
Sewer Public Septic
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Acceptable Financing Cash,Conventional,FHA,VA
Listing Terms Cash,Conventional,FHA,VA
Special Listing Condition Standard