8022 Germantown Ave, Philadelphia, PA 19118

Property Description

Investment Opportunity: Mixed-Use Building in Chestnut Hill with Commercial and Residential Rental Income. This well-maintained mixed-use building offers a bi-level retail space on the first floor consisting of approximately 850sqft with convenient and open access to the basement for ample overflow space (roughly 750sqft additional). Above the store is a bright and spacious 1-bedroom apartment with a large living room complete with Juliette balcony, dining area, spacious working kitchen with gas cooking, ample wood cabinetry and tiled countertop, full bath with shower over tub, and in-unit laundry. The apartment layout offers the potential to be converted into a two-bedroom unit to maximize value with higher rental income. Out back is a small courtyard and open rear yard. The commercial space is occupied by the long term and established business - Community Audio - with a lease through January of 2024 at $2,000 per month. The residential rental will be vacant at the end of February 2023 and can fetch $1,300 per month in its current configuration. This timing presents a unique opportunity for an owner occupant seeking to become an investor or business owner while offsetting their cost of living. Located on bustling Germantown Avenue, this property is just steps away from some of the best shops, restaurants, and public transportation of the Chestnut Hill business corridor.