2223 Frankford Ave, Philadelphia, PA 19125

Property Description

Don't miss this incredible opportunity to own a fully occupied, turnkey mixed-use investment property in the heart of Fishtown's thriving Frankford Avenue Business Corridor. This 3-unit commercial building features a long-term commercial tenant on the first floor, Brewery ARS, operating under a multi-year NNN lease, plus two residential apartments above that are both currently rented, providing immediate rental income. The second-floor apartment offers 2 bedrooms and 1 full bath, while the third floor features a 1 bedroom, 1 bath unit. The property is zoned CMX-2 and has been well maintained with numerous updates throughout. Recent improvements include a newer roof, exterior paint, brick pointing, concrete front steps, windows throughout, carpeting, front entry door, and a new brewery entrance. The third-floor apartment features a newer kitchen, washer and dryer, updated lighting, bathroom vanity, fresh paint, and carpeting. The second-floor apartment has also been updated with fresh paint, a newer kitchen countertop, bathroom vanity, and lighting fixtures. The brewery has completed significant plumbing and electrical upgrades along with attractive cosmetic improvements, creating a modern industrial feel with exposed brick throughout the commercial space. The basement has also seen plumbing and electrical improvements along with a new Bilco door. One of the added bonuses is the low annual real estate taxes of just $3,230. The property is also part of the Fishtown Kensington Area Business Improvement District (FKABID), which helps maintain the neighborhood through enhanced safety, cleanliness, and ongoing business district improvements. Location is everything, and this property delivers. Walk to the Girard or Berks Market-Frankford Line stations and be in Center City in just two stops. Surrounded by new development, Federal Opportunity Zones, and continued neighborhood growth, this is an outstanding opportunity for investors looking to add a stabilized, income-producing asset in one of Philadelphia's most desirable neighborhoods. Current Gross Annual Income: $56,856