Philadelphia, PA 19134,1944 E SOMERSET ST
Philadelphia, PA 19134,1944 E SOMERSET ST
Philadelphia, PA 19134,1944 E SOMERSET ST
Philadelphia, PA 19134,1944 E SOMERSET ST
Philadelphia, PA 19134,1944 E SOMERSET ST
Philadelphia, PA 19134,1944 E SOMERSET ST
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$72,500

$79,900

9.3%
Est.Price: ?

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Est. payment /mo

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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Bright MLS (BMLS)
Listed by Derek J. Greene • The Greene Realty Group
Bought with NON MEMBER • Non Subscribing Office
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