60th Street Commons

313-317 South 60th Street Philadelphia, PA 19143

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,200,000
Last Verified:
Dec 10, 2020

Highlights

  • Turnkey Mixed-Use Investment Opportunity
  • All units fully renovated in 2016
  • All units seperately metered for electric

Description

KW Commercial is pleased to exclusively present for sale 60th Street Commons. This Value Add 15 Unit Mixed-Use Property is located at 60th and Spruce Streets in West Philadelphia. The subject property is a 100% occupied fully-stabilized Mixed-Use Investment Property with the ability to increase rents and add value. 60th Street Commons consists of twelve apartment units averaging 750 SF each and 3 street level retail spaces which are 1,362 SF each. All 12 apartment units were renovated and updated back in 2016 and historically remain fully occupied. All units have separately metered electric. Individual electric hot water heaters in each unit, electric baseboard heat and electric stoves. Some tenants have window A/C units. Unit mix is 9 one bedroom units, 3 two bedroom units, and 3 commercial units. The 3 commercial spaces are occupied by a long term Ministry, a Daycare, and a clothing store.

60th Street Commons is located just steps away from the intersection of 60th and Spruce St in West Philadelphia. The area sustains a heavily trafficked retail and residential corridor, with high demand for housing. The location has ideal access to public transportation via Septa bus lines and The Market-Frankford Line train (The EL).


Year Built: 1979
Building Size: 13304sq ft
Lot Size: 0.14 acres

Map of 313-317 South 60th Street, Philadelphia, PA, 19143

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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