1631 Wallace Street

Philadelphia, PA
$ 875,000 Beds 0 Baths 0 Sq 3,660
Monthly Estimate* How much can I afford?

Rare opportunity to own an income producing mixed-use building in the heart of the Spring Garden - Art Museum Area with 2-CAR PARKING and a private garden. Just two blocks south of bustling Fairmount Ave; the primary retail & restaurant corridor in the neighborhood. Located on the corner of 17th and Wallace Street. Three exposures and soaring 11 ft plus ceilings (original plaster moldings and tile) provide an abundance of natural light. This property consists of two residential apartments and one commercial space all with central A/C. The commercial and residential tenants each have their own entrance. All units are separately metered. Access to the 2-car parking and garden are through an exterior gated entrance on 17th Street or through the rear exit of the commercial unit. Spectacular first floor commercial space with half bath. Most recently occupied by a barbershop/salon and cafe prior to that. Exceptional potential to customize this space to your aesthetic or allow a new tenant to outfit for their needs. The commercial tenant has in-unit access to the unfinished basement providing an additional 1,200 sq ft of storage space. Residential tenants enter through a private entrance on 17th Street. Unit #2 (currently owner occupied) is a spacious 1 bedroom, 1 bath flat with in-unit washer/dryer and an amazing open living concept. An additional bedroom could be added to create a 2 bed, 1 bath apartment increasing the rent (projected rent as-is: $1,650/mo). Enter unit #3 on the second floor into a private foyer and up one flight of steps awaits another generously sized apartment. This 2 bed, 1 bath residence spans the entire third floor and overlooks the private garden from the living and dining area and has Center City skyline views from the larger southern facing bedroom. In-unit washer/dryer. Unit #3 is rented significantly under market value at $1,700/mo. Projected rent for this unit is $2,150/mo. Prime location. A short walk to restaurants, retail, cafes, and much more. 5 minute drive to Rittenhouse Square. Convenient transit options including the Broad Street Line.

Contingent

  • Price
  • $ 875,000
  • Lot Size
  • 2,178 SqFt
  • Bedrooms
  • 0
  • Sqr Footage
  • 3,660
  • Full Bathrooms
  • 0
  • Year Built
  • 1915
  • Half Bathrooms
  • 0
  • City, Zip
  • Philadelphia
  • Taxes
  • $ 10072
  • County
  • PHILADELPHIA
  • Style
  • Apartment Building,Flex,Professional
  • Area
  • 19130
  • MLS#
  • PAPH1007554
  • Zip
  • 19130
Listing Provided by: Compass Pennsylvania, LLC
Data Source: Bright MLS - 382 - MD

Features

General

Accessibility None
Business Type Apartment Building, Flex, Professional, Other
Construction Materials Masonry
Cool Fuel Natural Gas
Cooling Central A/C, Zoned
County PHILADELPHIA
Days on Market 15
Heating Central, Forced Air
MLS Area 19130 (19130)
Municipality PHILADELPHIA
New Construction No
Ownership Fee Simple
Possession Negotiable
Price Per Sq Ft 239.07
Property SubType Mixed Use
Property Type Commercial Sale
Sewer Public Sewer
Subdivision Name ART MUSEUM AREA
Tax Annual Amount 10072.0
Tax Lot 139
Tax Year 2021
Total Units 7
Vacation Rental Y/N No
Water Access Y/N No
Zoning RM1

Interior Features

Central Air Y/N Yes
Heating Fuel Electric, Natural Gas
Heating Y/N Yes
Hot Water Multi-tank

Exterior Features

Building Area Total 3660.00
Car Parking Spaces 2
Lot Dimensions 20.00 x 105.00
Lot Size Acres 0.05
Lot Size Source Assessor
Lot Size Square Feet 2100.00
Navigable Water Y/N No
Total Parking Spaces 2
Type of Parking Driveway
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Old Bridge, NJ office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Default based on a 30-year fixed rate of 2.99% 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.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

4/21/2021 Listed $875,000

Property vs Zip Code Average in 19130

Price
AVG $260K
$880K
Taxes
AVG $5,137
$10,072
Visits
AVG 93
108
Year Built
AVG 1968
1915

Map

1631 Wallace Street Philadelphia, PA is a Single Family Home for sale at $875000 with 3660 sqft and a lot size of 2,178 SqFt Acre(s). 1631 Wallace Street Philadelphia has 0 bedrooms, 0 baths and was built in 1915. The property's zip code is 19130 which is in Philadelphia, PA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 2.99% 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.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.