1 Bath
1,490 SqFt
1 Bath
1,490 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 1,490 sqft
Price per Sqft $112
Subdivision Mantua
MLS Listing ID PAPH2480634
Style AirLite
Half Baths 1
HOA Y/N N
Abv Grd Liv Area 1,490
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $1,038
Tax Year 2024
Lot Size 944 Sqft
Acres 0.02
Lot Dimensions 16.00 x 59.00
Property Description
Located in the West Philadelphia Promise Zone, which could enhance long-term value appreciation.
Mantua is experiencing significant revitalization, driven by its inclusion in the West Philadelphia Promise Zone, a federal initiative aimed at reducing poverty and boosting development.
A notable $60-million project by Lomax Real Estate Partners is set to bring a grocery store and medical center nearby, potentially increasing local appeal.
This 1,490-square-foot duplex at 810 N 40th Street, Philadelphia, PA 19104, is situated in the vibrant Mantua neighborhood. Zoned RM1 for multi-unit residential use, it seems well-suited for investors seeking to capitalize on the area's growth.
multifamily properties in Philadelphia typically achieve cap rates of 5-6%. For a duplex like 810 N 40th Street, assuming a purchase price of $250,000-$350,000 (based on area trends and comparable properties), investors could expect competitive returns.
2-bedroom apartments in Mantua generally rent for $1,800-$2,000 per month. For a duplex with two 2-bedroom units, this could translate to a total annual rental income of approximately $43,200-$48,000.
Located near Drexel University and the University of Pennsylvania, Mantua benefits from consistent demand for rental housing from students, faculty, and staff. Drexel's expansion, including the Schuylkill Yards complex and community programs like the Dornsife Center, further drives interest in the area.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning RM1
Rooms
Basement Unfinished
Interior
Hot Water None
Heating None
Cooling None
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Story 2
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style AirLite
Level or Stories 2
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Senior Community No
Tax ID 871510940
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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