417 W Queen Lane Philadelphia, PA ^$ 625,000

417 W Queen Lane

^$ 625,000

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417 W Queen Lane

Philadelphia, PA, 19144

^$ 625,000

Studio Baths0.0

Monthly Estimate*

^$ 4,154

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Studio

Multi-Family Home for sale in Philadelphia, PA

for $625,000. This home was built in 1900 on a lot size of 0.13.

Prime investment opportunity at 417 W Queen Lane! This recently renovated property features seven individual units and sits on a massive 25x230 lot lot, generating approximately $68,000 annually with $12,000 in operating expenses, yielding a stabilized 8.75% cap rate with an opportunity to expand the current building. The property boasts long-term tenants, electric heating and cooling in each unit, and a shared coin laundry in the basement. With landlord-covered electric and water, there's significant potential for value-add and rent increases. Ideal for investors looking to capitalize on a well-maintained, income-generating asset. Located centrally to all Philadelphia has to offer with several train and bus stops within a quick walk and also a short distance to the renowned Wissahickon Park System. Can be sold with 415, 419 & 419r W Queen lane as a Shovel Ready 9 Unit SFH Development Project with permits, drawings, renderings and financials are available upon request!

Multi-Family Active

Price

^$ 625,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 4,497

Style

Lot Size

0.13

Year Built

1900

Town/City

Philadelphia

County/Region

Philadelphia

MLS | Web ID

PAPH2357994

Features

Interior

Heating Fuel Electric

Basement Unfinished

Hot Water Electric

Basement (Y/N) Y

Heating Y/N Y

Fireplace Y/N N

Central Air Y/N N

General

Sewer Public Sewer

Heating Other

Cooling Window Unit(s)

Possession Negotiable

Zoning RSA5

Architectural Style Other

Construction Materials Masonry

School District THE SCHOOL DISTRICT OF PHILADELPHIA

Exclusions Tenant's Property

Year Built 1900

Property SubType Other

Tax Year 2022

Percent Ownership Fee Simple

Cool Fuel Electric

Municipality PHILADELPHIA

Accessibility None

County PHILADELPHIA

New Construction N

Property Type Multi-Family

Subdivision Name GERMANTOWN (WEST)

Garage Y/N N

Water Access Y/N N

Other Structures Above Grade Below Grade

Total Rooms 7

Status ACTIVE

Directions Wissahickon Ave to W Queen Lane

City PHILADELPHIA

Buyer Agent Compensation 2.5

NumberOfUnitsTotal 4

MLS Area 19144 (19144)

Lot Size Units Square Feet

Lot Size Square Feet 5773.00

Waterfront Y/N N

Tax Annual Amount 4497.0

Two Bedroom 0

Structure Type Detached

Price Per Sq Ft Total AG 136.91

Acceptable Financing Cash Conventional FHA 203(k)

Vacation Rental Y/N N

Days on Market 29

Standard Status Active

Year Built Source Assessor

Tax Lot 3

Buyer Agent Compensation Type % Of Gross

Exterior

Pool No Pool

Water Source Public

Type of Parking On Street

Foundation Details Concrete Perimeter

Water View Y/N N

Lot Dimensions 25.00 x 231.00

Lot Size Acres 0.13

Lot Size Source Assessor

Land Assessed Value 64260.00

Navigable Water Y/N N

Water Oriented Y/N N

Internal Only

Street Number 1 417

* Excluded Features

List By

Kw Main Line - Narberth

Broker

damon@damonmichels.com

Affordability Calculator

$4,529

Per Month

Monthly Principal & Interest: $4,154
Monthly Property Taxes: $375
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.99% 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.

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Nearby

Trends
Schools

Multi-family listings in Philadelphia, PA

Average List Price ^$533,787

Percent of Sale Price 15%

About Philadelphia, PA

1,588,239 Population

5% Since 2002

^$42,223 Median Income

36 Median Age

24% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

3533249 Elementary School

3533189 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
6/6/2024	$625,000	-7.41%	Price Down
5/23/2024	$675,000		Listed Price

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417 W Queen Lane, Philadelphia, PA, 19144 is a Multi-Family Home for sale at $625,000 with a lot size of 0.13. 417 W Queen Lane is a studio with 0.0 baths and was built in 1900. The property's zip code is 19144 which is in Philadelphia, PA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% 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.

Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BrightMLS Broker Reciprocity^SM program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Weichert, Realtors® participates, and is provided by BrightMLS through a licensing agreement.

Real estate listings held by brokerage firms other than Weichert, Realtors® are marked with the Broker Reciprocity icon (a little black house) and detailed information about each listing includes the name of the listing broker.

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417 W Queen Lane

Multi-Family Home for sale in Philadelphia, PA

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