6327 Musgrave Street

Philadelphia, PA
$ 1,200,000 Beds 0 Baths 0
Monthly Estimate* How much can I afford?

Attention Developers and Investors! Don't miss this opportunity to build 48 units by-right in Germantown / East Mount Airy. 6327 Musgrave Avenue is currently an 18,000 square foot site which includes a 7,000 square foot garage and 30 parking spaces. The garage is currently rented for $3,300.00 per month and the spaces are rented for an average of $75.00 per month each. This site has vast opportunities including leaving it rented as-is and just collecting a return on investment, or developing it into an apartment building, which when completed, would have huge value and significant cash flow. The owner has applied for a zoning permit to build 48 apartments by utilizing the median income bonus allowing increased density and height. The building is designed to include (8) 2-bedroom units, and (40) 1 bedrooms. 5 of the 48 units will need to be median (not low) income restricted. The building will be 4 stories. Half of the first floor will be utilized for parking at a ratio of roughly 1 spot to every 3 apartments. After careful consideration, it was determined that utilizing a green roof is the most economic and expeditious way to satisfy storm water management requirements. Stormwater management civil work is in process. The property has been surveyed and has had a phase 1 environmental study completed. Phase II soil borings have been collected but not analyzed. There are alternatives to this development plan that could be explored by a purchaser. Based on recent comparable rents, the 1 bedroom apartments should rent for $1,200 - $1,400 per month and the 2 bedroom apartments should rent for $1,400 - $1,900 per month. The parking is just a bonus! Germantown is a charming neighborhood with a rich sense of history. Along cobbled Germantown Avenue, 18th-century homes and taverns mix with indie boutiques and cafes in traditional storefronts. Picturesque attractions include the country's oldest rose garden at the Wyck House. Every summer, the Revolutionary Germantown Festival draws visitors to the Cliveden mansion, site of the 1777 Battle of Germantown. Do not let this opportunity pass you by! This lucrative investment does not come up often, make your move!

Pending

  • Price
  • $ 1,200,000
  • Lot Size
  • 0.42 Acres
  • Bedrooms
  • 0
  • Full Bathrooms
  • 0
  • Year Built
  • 1930
  • Half Bathrooms
  • 0
  • City, Zip
  • Philadelphia
  • Taxes
  • 4293
  • County
  • PHILADELPHIA
  • Style
  • Area
  • 19144
  • MLS#
  • PAPH926214
  • Zip
  • 19144
Listing Provided by: Keller Williams Philly

Features

General

Accessibility None
Architectural Style Other
Construction Materials Masonry
Cool Fuel None
Cooling None
County PHILADELPHIA
Garage Y/N No
Heating None
High School District THE SCHOOL DISTRICT OF PHILADELPHIA
MLS Area 19144 (19144)
New Construction No
Other Structures Above Grade, Below Grade
Ownership Fee Simple
Possession Settlement
Price Per Sq Ft 159.15
Property SubType Other
Property Type Multi-Family
Real Estate Owned Y/N No
Sewer Public Sewer
Structure Type Other
Tax Year 2020
Total Units 1
Vacation Rental Y/N No
Water Access Y/N No
Zoning CMX2

Interior Features

Central Air Y/N No
Heating Fuel None
Hot Water None
Living Area 7540

Exterior Features

Lot Dimensions 123.00 x 148.78
Lot Size Acres 0.42
Lot Size Source Assessor
Lot Size Square Feet 18300.00
Navigable Water Y/N No
Parking Lot - # Of Spaces 30
Pool Y/N No Pool
Total Parking Spaces 30
Type of Parking Parking Lot
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,068

Per Month

Based on the average sale price from the PHILADELPHIA, PA office

  • Monthly Principal & interest $1,939
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 4.38% 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.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

8/17/2020 Listed $1,200,000

Property vs Zip Code Average in 19144

Price
AVG $190K
$1.2M
Taxes
AVG $1,725
$4,293
Visits
AVG 32
62
Year Built
AVG 1926
1930

Map

Areas That We Cover

6327 Musgrave Street Philadelphia, PA is a Single Family Home for sale at $1200000 and a lot size of 0.42 Acres Acre(s). 6327 Musgrave Street Philadelphia has 0 bedrooms, 0 baths and was built in 1930. 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 4.38% 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.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.