$1,300,000
$1,300,000
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3 Beds
3 Baths
3,021 SqFt
SOLD DATE : 12/23/2021
Key Details
Sold Price $1,300,000
Property Type Condo
Sub Type Condo/Co-op
Listing Status Sold
Purchase Type For Sale
Square Footage 3,021 sqft
Price per Sqft $430
Subdivision Old City
MLS Listing ID PAPH999570
Sold Date 12/23/21
Style Bi-level
Bedrooms 3
Full Baths 3
HOA Y/N N
Abv Grd Liv Area 3,021
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $1,510
Tax Year 2021
Lot Dimensions 0.00 x 0.00
Property Description
Rarely does an opportunity present itself to build your dream home in the middle of the most historic neighborhood in the country. Presently unfinished, this spacious bi-level home has over 3,000 sf of interior space, and an enormous 575 sf outdoor terrace with hot tub and pergola. Visitors exiting from the elevator directly into the unit will be immediately awed by soaring ceilings, huge windows with magnificent views, original brick throughout, and a loft style second floor. There is great potential here for the most discerning owner occupants and investors. The buyer can easily rebuild this unit as an extremely spacious 2-bedroom, 2.5-bathroom residence by simply reinstalling framing in accordance with existing drawings – or reconfigure it as a 3-bedroom home. This historic building has just undergone a complete $4.5 million gut-renovation. Upgrades and replacements too numerous to describe include a new roof, new steel bracing, new modern elevator, new gas lines, new HVAC lines, new major plumbing, new major electric, other new mechanicals, new security, fire alarm and sprinkler systems, a new lobby and all other common areas completely redone. There is virtually nothing left from the original building constructed in 1847 but the unique character of its historic brick exterior. Positioned directly across from the Museum of the American Revolution and amidst national parks and landmarks, you are within short walking distance to Independence Hall, Penn's Landing, The Liberty Bell, nationally acclaimed restaurants like Zahav, Morimoto, Amada and Buddakan and dozens of other well-known gourmet restaurants, in a terrific school district, and surrounded by trendy boutiques and galleries. The soon to come I-95 “Over-cap Park” will be just two blocks away. In another unique opportunity, this unit may be combined with the adjacent Unit C, a 2,200+ sf loft with 2 bedrooms and 2 bathrooms, which is also for sale, and can be easily joined with this Unit D through a shared wall. Use Unit C as a large and luxurious in-law suite or to enlarge Unit D into a magnificent 5,200+ sf residence with 4-6 bedrooms and 5-6 bathrooms. Carrying costs for any buyer will be very low for a long time. Because everything in the building is brand new, it has no deferred maintenance and extremely low condo fees. Taxes have been reduced to only $1,500 per year (!) due to the building overhaul, and the buyer will enjoy a full 10-year tax abatement if renovations begin in 2021.
Location
State PA
County Philadelphia
Area 19106 (19106)
Zoning CMX3
Rooms
Main Level Bedrooms 3
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Exterior Feature Terrace
Amenities Available None
Waterfront N
Water Access N
Accessibility None
Porch Terrace
Parking Type On Street
Garage N
Building
Story 2
Unit Features Garden 1 - 4 Floors
Sewer Public Sewer
Water Public
Architectural Style Bi-level
Level or Stories 2
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Pets Allowed Y
HOA Fee Include None
Senior Community No
Tax ID 888035178
Ownership Condominium
Special Listing Condition Standard
Pets Description Cats OK, Dogs OK
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Bought with Carmen Joseph Caruso • Keller Williams Philadelphia
1619 Walnut St 4th FL, Philadelphia, PA, 19103, United States