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    1511 W Allegheny Avenue

    PHILADELPHIA, PA 19132
    • $200,000
    • STATUS: Active
    • ON SITE: 57 days
    • ID#: PAPH931708
    Price Reduced
    UPDATED: 68 min ago
    $200,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    Rare opportunity to sink your teeth into a large development project within the hottest 5 blocks of the North Philly corridor! The package includes 1511 W Allegheny, 1509 W Allegheny an income producing 6 unit building and 1510 W Hilton (if seller agrees to the sale). All parcels are owned by individual owners but willing to package together. There is massive upside potential for this project through the Qualified Opportunity Zone tax benefits! Real estate investments made by individuals through special funds in these new zones can defer or eliminate federal taxes on capital gains and avoid future tax penalties often associated with real estate investing. One hundred billion dollars in capital are expected to spur development in these zones. Over 1.8M SF are planned in this area alone, spurred by the Amtrak North Philadelphia redevelopment led by HFZ Capital of NYC. Tenants are the family of the owner so rent has been below market rates. Going rates for 2 beds are 1600 plus and for 1 beds 1200+. The project will have neighhood support from the RCO. Demo 1509 W Allegheny and build 28-32 units with rear parking on 1510 W Hilton. New construction triplexes are selling for 600k+. There is a major 100 million dollar plus expansion project planned for the septa station nearby and over 400 units for construction have been approved and are in the queue. All occupants have agreed to move out prior to the sale or stay if desired for 1509 W Allegheny.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Premier Property Group | RE/MAX Community. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-10-31T16:50:54.477.
    www.njpremierhomes.com/homes/109657671
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    1511 W Allegheny Avenue PHILADELPHIA, PA 19132

    • Price: $200,000
    • Status: Active
    • Updated: 68 min ago
    • ID#: PAPH931708
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    Neighborhood:
    19132 (19132)
    County:
    Philadelphia
    Area:
    19132 (19132)
    School District:
    The School District Of Philadelphia
    Property Description
    Rare opportunity to sink your teeth into a large development project within the hottest 5 blocks of the North Philly corridor! The package includes 1511 W Allegheny, 1509 W Allegheny an income producing 6 unit building and 1510 W Hilton (if seller agrees to the sale). All parcels are owned by individual owners but willing to package together. There is massive upside potential for this project through the Qualified Opportunity Zone tax benefits! Real estate investments made by individuals through special funds in these new zones can defer or eliminate federal taxes on capital gains and avoid future tax penalties often associated with real estate investing. One hundred billion dollars in capital are expected to spur development in these zones. Over 1.8M SF are planned in this area alone, spurred by the Amtrak North Philadelphia redevelopment led by HFZ Capital of NYC. Tenants are the family of the owner so rent has been below market rates. Going rates for 2 beds are 1600 plus and for 1 beds 1200+. The project will have neighhood support from the RCO. Demo 1509 W Allegheny and build 28-32 units with rear parking on 1510 W Hilton. New construction triplexes are selling for 600k+. There is a major 100 million dollar plus expansion project planned for the septa station nearby and over 400 units for construction have been approved and are in the queue. All occupants have agreed to move out prior to the sale or stay if desired for 1509 W Allegheny.
    Exterior Features

    Garage YN No Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Property Features

    Assessment Year 2020 Association YN No Central Air YN No Construction Completed YN No Current Use Residential Incorporated City Name Philadelphia Navigable Water YN N New Construction YN No Original MLSNumber 304277499115 Ownership Interest Fee Simple Possession Immediate Property Sub Type Land Sale Type Standard Sewer Public Septic Tax Annual Amount 343.00 Tax Assessment Amount 24500.00 Tax Lot 42 Vacation Rental YN No Water Source Public Zoning Rsa3

    Listing courtesy of Keller Williams Philly.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Premier Property Group | RE/MAX Community. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-10-31T16:50:54.477.
     
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