5556 Market St Philadelphia, PA 19139
Cobbs Creek NeighborhoodEstimated payment $1,914/month
Total Views
20,126
--
Bed
--
Bath
2,009
Sq Ft
$161
Price per Sq Ft
About This Home
Welcome to your next investment opportunity! This turnkey mixed-use building promises excellent cash flow and minimal overhead, making it an investor's dream. Nestled in the burgeoning Walnut Hill section of Philadelphia, adjacent to the esteemed University of Pennsylvania, this property boasts three units ripe for income generation.
Positioned conveniently on Market Street's south side, mere steps from the SEPTA 56th Street EL stop, accessibility is unmatched. Your tenants will relish the swift commute to Penn, Drexel, or downtown Philadelphia, thanks to the nearby elevated train.
The ground floor fronts a versatile commercial space, zoned CMX2 to accommodate various business endeavors. Currently leased at $725 per month, this unit offers immediate returns. Meanwhile, the rear residential unit on the first floor presents a spacious one-bedroom apartment with kitchen, bath, flooring, heater, and washer/dryer. Priced at $1000 per month, its private fenced yard adds an extra allure.
Ascending to the second floor reveals a charming two-bedroom unit, boasting a ceramic-tiled kitchen, pergo flooring, and modern amenities like high-efficiency gas forced air heat and central air. With a rental income of $1100 per month, its enclosed porch could easily transform into a third bedroom, maximizing returns.
To sweeten the deal, the property offers off-street parking for 1-2 cars, potentially yielding an additional $50-$100 per month in rent. Resting on a generous 125-foot deep lot with a convenient rear alley/private driveway, convenience and flexibility abound.
Whether you're eyeing a 1031 exchange, a cash sale, commercial financing, or envisioning yourself as an owner-operator, this offering caters to diverse investment strategies. Don't miss out on this golden opportunity to secure your foothold in Philadelphia's thriving real estate market!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,308
Year Built
- Built in 1920
Lot Details
- 1,868 Sq Ft Lot
- Lot Dimensions are 15.00 x 125.00
Home Design
- 2,009 Sq Ft Home
- Triplex
- Brick Foundation
- Masonry
Parking
- 1 Parking Space
- 1 Driveway Space
Utilities
- Forced Air Heating and Cooling System
- Natural Gas Water Heater
Additional Features
- Unfinished Basement
Community Details
- 3 Units
- Walnut Hill Subdivision
Listing and Financial Details
- Tax Lot 129
- Assessor Parcel Number 604002500
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,309 | $93,500 | $14,025 | $79,475 |
| 2024 | $1,309 | $93,500 | $14,025 | $79,475 |
| 2023 | $1,309 | $93,500 | $14,025 | $79,475 |
| 2022 | $1,309 | $93,500 | $14,025 | $79,475 |
| 2021 | $1,309 | $0 | $0 | $0 |
| 2020 | $1,309 | $0 | $0 | $0 |
| 2019 | $1,260 | $0 | $0 | $0 |
| 2018 | $1,054 | $0 | $0 | $0 |
| 2017 | $1,054 | $0 | $0 | $0 |
| 2016 | $1,054 | $0 | $0 | $0 |
| 2015 | $1,009 | $0 | $0 | $0 |
| 2014 | -- | $75,300 | $15,690 | $59,610 |
| 2012 | -- | $12,192 | $3,903 | $8,289 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 01/28/2025 01/28/25 | Price Changed | $324,000 | 0.0% | $161 / Sq Ft |
| 01/17/2025 01/17/25 | Rented | $1,100 | 0.0% | -- |
| 12/13/2024 12/13/24 | Price Changed | $325,000 | 0.0% | $162 / Sq Ft |
| 11/13/2024 11/13/24 | For Rent | $1,100 | 0.0% | -- |
| 10/28/2024 10/28/24 | Price Changed | $335,000 | -1.2% | $167 / Sq Ft |
| 08/03/2024 08/03/24 | Price Changed | $339,000 | -2.9% | $169 / Sq Ft |
| 07/22/2024 07/22/24 | Price Changed | $349,000 | -3.1% | $174 / Sq Ft |
| 05/14/2024 05/14/24 | Price Changed | $360,000 | -9.8% | $179 / Sq Ft |
| 02/23/2024 02/23/24 | For Sale | $399,000 | -- | $199 / Sq Ft |
Source: Bright MLS
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $250,000 | Great American Abstract Llc | |
| Deed | $85,500 | Springfield Abstract Inc | |
| Deed | $60,000 | None Available | |
| Deed | $45,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $245,471 | FHA | |
| Previous Owner | $150,000 | Unknown | |
| Previous Owner | $50,000 | Commercial | |
| Previous Owner | $108,500 | Commercial |
Source: Public Records
Similar Homes in Philadelphia, PA
Source: Bright MLS
MLS Number: PAPH2325260
APN: 604002500
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