11 months on rocket

2516 Frankford, Philadelphia, PA, 19125

$750,000

Home List Price

$8,906*

Closing Credit

0 Baths
2,555 SqFt
$294/SqFt
Multi

Location

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2516 Frankford, Philadelphia$750,000

Buyer Closing Credits

$8,906*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
ParkingNone
Year Built1921
HeatingCentral
CoolingCentral Air
ViewCity
MLS #PAPH2302076
Lot Size0.04 Acres
StatusActive
(ACTIVE)

About 2516 Frankford

Rare Development Opportunity - Entitled 6 Units On a High Preforming Corridor. Location Details CMX-2 Zoned for commercial, 5 residential units above • 1 & 2 bed units & roof deck. Eligible for a 10 year tax abatement upon completion of construction . Additional property (set up as a duplex) at 2505 Amber St is interested to sell as a package deal, therefore you can consolidate, increase the foot print of the building and add unit density. Central to large and midsize development .Located in a Qualified Opportunity Zone Strategy 1 - Bring the building to lease ready condition for a projected $4100 gross monthly income to cover the estimated $4000 monthly debt service. Pursue approvals on plans and pull permitting. factoring in expediting and response time from examiners you'll begin work in the spring time, which will aline with the ideal rental cycle for stabilizing the building. Strategy 2 - For an offer price of $780,000 Seller will finalize and coordinate with the architect to submit plans for approval. Seller will deliver approved plans at the time of closing. Buyer will be responsible for adding their contractor to eclipse and pulling/ paying for permits. Build immediately and sync with the rental cycle to stabilize the building.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1921
  • Living Area: 2,555 SqFt

Listing Office:

  • Office Name: KW Empower
  • Office Phone: (215) 627-3500
  • Listing Agent: Richard K Cassell

Exterior Features

Exterior Information:

  • View: City

Parking Information:

  • Parking: None

Lot Features

Lot Information:

  • Lot: Irregular Lot
  • Lot Size: 0.04 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: On Frankford

Municipality:

  • Philadelphia

Price Information

Listing Price Info

Price Summary:

  • List Price: $750,000
  • Price Per SqFt: $294/SqFt
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Housing Market Comparison

See how this home compares to others in Philadelphia, PA.

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Philadelphia, PA

City

Med. Sold Price

$261.8K

Med. Price/SqFt

$199

Avg. Days On Market

44

# of Sold Homes

1056

2516 Frankford vs Philadelphia

354 DAYS ON ROCKET

+310 Days

$750,000

+$488.1K More

$294/SqFt

+$95 More

KEY TAKEAWAY

This property is $488.1K more than the Median Sold Price and $95/SqFt more than other homes in Philadelphia, PA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #PAPH2302076

Listing Office:

  • Office Name: KW Empower
  • Office Phone: (215) 627-3500
  • Listing Agent: Richard K Cassell

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers 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 on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. 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. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/22/2024, 2:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$3,811

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,315

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-631052
7
/10

  • Horatio B. Hackett School

  • 2161 E York St

  • 0.19 miles

  • Public District Grades KG-5

school-card-donut-631053
1
/10

  • Isaac A. Sheppard Elementary School

  • 120 W Cambria St

  • 0.75 miles

  • Public District Grades KG-4

school-card-donut-631054
3
/10

  • Richmond Elementary School

  • 2944 Belgrade St

  • 0.81 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $22,154. Most Philadelphia, PA residents have annual incomes less than $35k. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Pennsylvania›Philadelphia County›Philadelphia›19125›2516 Frankford

This home is located at 2516 Frankford in Philadelphia, PA and zip code 19125 in the Bridesburg / Kensington / Richmond neighborhood. This 2,555 square foot home, which was built in 1921, sits on a 0.04 acre lot. It has been listed on Rocket Homes since December 04, 2023 and is currently priced at $750,000.

While more than 252 listings in Philadelphia, PA in October 2024 were sold above asking price, there were more than 237 listings sold at asking price, and more than 567 were sold below. Between September 2024 and October 2024, Philadelphia, PA real estate market has seen increase in the number of listings by 9.8%. In October 2024 median list price was $261,807 and the average listing age was 44 days.

From Rocket Homes Real Estate and based on county public records data.

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