OFFERED AT $795,000
$143,688 Potential Annual Gross Rent - Section 8 Rentals + Commercial
Rare Development Opportunity - Entitled 6 Units On a High Preforming Corridor
- 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
- 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 $825,000 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.
Don't Miss This Incredible Opportunity!
The Block
Frankford Rear Unit
Frankford 3rd Floor Unit
Frankford 2nd Floor Unit
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