$72,500
$79,900
9.3%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
1 Bath
1,018 SqFt
SOLD DATE : 10/08/2024
Key Details
Sold Price $72,500
Property Type Townhouse
Sub Type End of Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 1,018 sqft
Price per Sqft $71
Subdivision Port Richmond
MLS Listing ID PAPH2401608
Sold Date 10/08/24
Style Other
Bedrooms 3
Full Baths 1
HOA Y/N N
Abv Grd Liv Area 1,018
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $880
Tax Year 2024
Lot Size 798 Sqft
Acres 0.02
Lot Dimensions 14.00 x 57.00
Property Description
### Investor Special: 1944 E Somerset St, Philadelphia, PA
**Price: $79,900**
**Type: Cash or Commercial Lending Only**
Welcome to an exceptional investment opportunity in one of Philadelphia's most rapidly transforming
neighborhoods! 1944 E Somerset St is primed for the savvy investor looking to capitalize on the
burgeoning real estate market in this vibrant area.
Property Overview
This property presents a unique chance to acquire a diamond in the rough. The home requires significant
renovations but is perfectly situated to take advantage of the ongoing revitalization efforts in the
neighborhood. As an investor special, this property is available for cash buyers or those utilizing
commercial lending—making it an excellent fit for those ready to dive into a project with significant upside
potential.
Neighborhood Growth
E Somerset St is located in a neighborhood experiencing a renaissance, with new developments, trendy
cafes, and local shops breathing fresh life into the area. The proximity to major transportation routes and
the emerging cultural scene make this location increasingly desirable. Investors can expect an uptick in
property values as more people are drawn to the charm and convenience of this community.
Financial Highlights- **As-Is Cash Sales**: Comparable properties in the area are selling for around $100,000 in their current
condition, highlighting the competitive market for renovation projects.- **After Repair Value (ARV)**: Once revitalized, this property has an impressive after repair value
reaching up to **$300,000**. This substantial difference between the purchase price and ARV signifies a
lucrative investment opportunity.- **Return on Investment**: If purchased at the listed price of $100,000, the potential return on investment
is nothing short of beautiful. With smart renovations and updates, investors can expect to see significant
equity growth once the property is brought up to market standards.
Renovation Potential
Imagine transforming this property into a modern living space that reflects the vibrant energy of the
neighborhood. With careful planning, your renovations can include open-concept living areas, updated
kitchens, and stylish bathrooms that appeal to today’s buyers. The property’s layout offers flexibility,
allowing for creativity in design that can maximize rental income or resale value.
Investment Strategy
This property is ideal for both seasoned investors looking to expand their portfolios and newcomers eager
to dive into real estate. Whether your plan is to flip the property for a quick profit or hold onto it for rental
income, the potential here is remarkable. Given the neighborhood's upward trend, your investment will not
only contribute to the local economy but also provide a substantial return as the area continues to grow.
Conclusion
Don't miss out on this incredible investment opportunity at 1944 E Somerset St, Philadelphia, PA. With the
right vision and investment, this property can become a cornerstone of your real estate portfolio. The
combination of a low purchase price, high ARV, and a rapidly appreciating neighborhood make this an
investor’s dream.
**Act fast—properties like this are in high demand!** Schedule a viewing today and take the first step
toward realizing your investment goals.
Location
State PA
County Philadelphia
Area 19134 (19134)
Zoning RSA5
Rooms
Basement Unfinished
Interior
Hot Water Natural Gas
Heating Central
Cooling None
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Story 3
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories 3
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Senior Community No
Tax ID 252017800
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Private, Other
Listing Terms Cash, Private, Other
Financing Cash,Private,Other
Special Listing Condition Standard
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