1204 E Palmer St,PHILADELPHIA, PA 19125
PHILADELPHIA, PA 19125
Description
Presenting an exceptional investment or owner-occupant opportunity in the heart of Fishtown. 1204 E Palmer Street is a well-crafted, three-unit mixed-use property built in 2017, offering a compelling combination of modern finishes, consistent tenant demand and strong rental income, with end-user flexibility under CMX-2 commercial mixed-use zoning allowances. The property features a bi-level commercial space on the ground floor, along with two well appointed residential efficiency apartments on the upper levels, each offering one bedroom and one bathroom. With its versatile layout, the commercial space offers a variety of potential uses, including boutique commercial or wellness services, or conversion to a residential apartment with a simple kitchen conversion. The two upper-level residential efficiency units feature oversized, front-facing Pella windows, inviting galley kitchens with quartz countertops, in-unit washers and dryers, and clean, modern finishes that create a comfortable, contemporary living environment. Historically, each residential unit has leased consistently with high demand, tenant requested lease extensions, and minimal owner vacancies! Located in the heart of booming Fishtown, this property offers an attractive combination of proven residential rental income, commercial leasing potential, and flexibility for an owner-occupant seeking to offset expenses with its revenue stream. Quality construction, versatile mixed-use potential, and a sought-after location make 1204 E Palmer Street a compelling opportunity in a market where well-positioned investment properties are limited in supply! Unit 1 - $1,800 (projected) per monthUnit 2 - $1,365 per monthUnit 3 - $1,300 per monthRent roll= $53,580NOI = $42,500CAP RATE = 7.00%
Details
| MLS # | PAPH2678864 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 2016 |
| Days On Site | 10 |
| Listing Provided By | Coldwell Banker Realty | Benjamin Katz |
Features
| SQ Feet | 1,710 |
|---|---|
| Basement | Y |
| Units | 3 |
| Zoning | CMX2 |
| Acreage | 0.01 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Forced Air |
Exterior
| Construction Materials | Masonry, Brick, Other |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 5505 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19125 |
| Area | 19125 (19125) |
| Community Name | FISHTOWN |
| School District | PHILADELPHIA CITY |
| Elementary School | ALEXANDER ADAIRE |
| Listing VS Median (in FISHTOWN) | |
Price: $609,000 low | high Med: $324,500 sqft: 1,710 low | high Med: 1,365 $ / sqft: $356 low | high Med: $238 On site: 10 low | high Med: 105 | |
Market Activity 19125
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19125 |
| Area | 19125 (19125) |
| Community Name | FISHTOWN |
| School District | PHILADELPHIA CITY |
| Elementary School | ALEXANDER ADAIRE |
| Listing VS Median (in FISHTOWN) | |
Price: $609,000 low | high Med: $324,500 sqft: 1,710 low | high Med: 1,365 $ / sqft: $356 low | high Med: $238 On site: 10 low | high Med: 105 | |
