Address
5529 Lansdowne Avenue, Philadelphia, PA
Price
$ 499,900
Property Attributes
- MLS#PAPH2312610
- TypeCommercial
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19131
- NeighborhoodCarroll Park
- Zip19131
- StyleGeneral Retail
- Year Built2008
- Taxes$ 1909
- Price$ 499,900
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage2433
- Lot Size0.07 Acres
Data Source:
Bright MLS
Property Description
RARE OPPORTUNITY to own this very unique & LARGE Mixed-Use CORNER Laundromat with 1 spacious Apartment Unit at the rear of the property in the heart of Carroll Park (West Philadelphia)! This property has been newly built in 2008 & fully renovated in 2010! 5529-31 Lansdowne Avenue ($799,900) (Tax ID# 882933280) MUST BE PURCHASED together with 5533-5535 Lansdowne Avenue large empty lots ($99,900) (Tax ID# 885020580). This spacious Laundromat is setup as a Coin Laundromat Business that consists of all stainless steel appliances (34 Dryers & 26 Washers). Take advantage of this rare opportunity before it's gone! Laundromat space has tile floors throughout with ceiling fans. Plenty of natural lights shining T/O entire Laundromat to help you save on energy bills! There is a small office area towards the back of the Laundromat. To the right of the small office is a half bathroom. This Laundromat generates averagely of about $7,000/month on the coin machines alone. Business also sells laundry detergents, softeners, laundry foldable trolley carts, etc., which these inventories are EXCLUDED from the Sale. Laundromat business opens from 7:30AM to 7:30PM, all 7 days a week. In addition, theres an Apartment Unit at the rear of the building. This apartment unit is very spacious & consists of 1 good-size Bedroom, 1 Full Bathroom & Updated Kitchen! It has nice tile floors all throughout! Full Bathroom consists of tile floors & walls, sink, toilet, and stand-up shower with glass door! Kitchen has updated granite counter-top, plenty of wood cabinets, and kitchen appliances (Stove/Range & Range Hood). There are 2 utility rooms at the rear of the property. Behind the apartments kitchen is a fenced in driveway that can fit up to 2 cars. The separate LARGE Empty Lot next door to this property can fit up to about 8-10 cars, which is also fenced up. ALL Major appliances (Hot Water Heater, Commercial-Grade Hot Water Heater, Central Heater System) & Rubber Roof are installed between 2008-2010 when this building was being constructed. There are also video surveillance cameras from outside the property! Start off your new home, business or investment with this very low maintenance property! Buyer is responsible to reach out to the City for any zoning questions or use variance. IF renting out the Apartment Unit, 1 Bedroom Apartment rents can be projected to bring in around $1,050-$1,250/mo. in the area for rent! That is potentially another $12,600-$15,000 gross income that this mixed-use commercial can generate in addition to the Laundromat business. Below are some of the Business Expenses: Water ($582/mo.), Electric ($280/mo.), Gas ($586/mo.), Trash ($500/year), Sewer ($36/mo.), Comcast Cable Internet ($96/mo.); Property & Liability Insurance ($7,000/year), Property Tax ($1,909/year) . Run the existing Laundromat business & generate instant cash flows OR open up your own business! So your investment possibilities are endless w/ this very large CORNER Commercial Property! Possible Redevelopment Opportunity for the lots next door! Property is being sold strictly in AS-IS, WHERE-IS condition! Buyer is responsible for any & all repairs (if needed). Septa bus / trolley stops & public transportation are easily accessible in the area! Close to shopping centers/plazas, supermarkets, stores, gyms, restaurants, parks, & much more! Easy access to all major highways! Minutes away from Philadelphia's International Airport, Fairmount Park, Drexel Univ., Univ. of the Sciences, Univ. of Pennsylvania, Saint Josephs Univ., Center City, Philadelphia Zoo, Childrens Please Touch Museum, & many more! PRICED VERY COMPETITIVELY TO SELL!! Get an offer in quickly before it's gone!!!
| Price History | |
|---|---|
| 1/18/2024 | Listed $799,900 |
| 5/14/2024 | 13% - $699,900 |
| 5/28/2024 | 29% - $499,900 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air,Central |
| Cooling | Ceiling Fan(s) |
| Utilities | Electric Available,Natural Gas Available,Sewer Available,Water Available |
| Possession | Immediate |
| Zoning | CMX2 |
| Security Features | Carbon Monoxide Detector(s),Exterior Cameras,Smoke Detector,Window Grills |
| Construction Materials | Masonry,Brick,Brick Front,Concrete,Copper Plumbing,Tile |
| Exclusions | ALL Store Inventory (such as detergents,softeners,soaps,etc.),Folding Laundry Basket on Wheels Foldable Utility Trolley |
| Year Built | 2008 |
| Electric | Circuit Breakers |
| View | Street |
| Property SubType | Mixed Use |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Gross Income | 84000.00 |
| OwnerPays | All Utilities,Electricity,Gas,Heat,Insurance,Taxes - Real Estate,Water |
| Business Type | Other,Other/General Retail |
| Accessibility | No Stairs,Level Entry - Main |
| County | PHILADELPHIA |
| Net Operating Income | 62628.00 |
| Operating Expense | 1781.00 |
| Insurance Expense | 7000.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | CARROLL PARK |
| Possible Use | Apartments,Commercial,Convenience Store,Day Care,Drive-Thru,Dry Cleaner,Food & Beverage,Food Market,Florist/Nursery,Investment,Laundromat,Medical/Dental,Mixed Use,Office,Parking,Professional Service, |
| Water Access Y/N | No |
| Property Use | Owner User |
| Transportation | Airport less than 10 miles,Bus Stop less than 1 mile,Metro/Subway Station less than 1 mile |
| Status | ACTIVE |
| Directions | Between Lansdowne Avenue,N. Allison Street & Hunter Street |
| ModificationTimestamp | 2024-05-28T13:53:28 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 3 |
| Total Units | 1 |
| MLS Area | 19131 (19131) |
| Lot Size Square Feet | 3109.00 |
| Tax Assessed Value | 136400.0 |
| Waterfront Y/N | No |
| Street Name | LANSDOWNE |
| Tax Annual Amount | 1909.0 |
| Electric Expense | 3360.00 |
| Property Condition | Excellent,Very Good,Good |
| Trash Expense | 500.00 |
| Price Per Sq Ft Total | 205.47 |
| Acceptable Financing | Cash,Conventional |
| Avg. Electric Per Month | 280.0 |
| Historic Y/N | No |
| Lease Considered Y/N | No |
| Vacation Rental Y/N | No |
| Days on Market | 132 |
| Location Type | Corner Lot/Unit |
| Standard Status | Active |
| Year Built Source | Estimated |
| Tax Lot | 73N2 |
| Cap Rate | 7.83 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Flooring | Tile/Brick |
| Hot Water | 60+ Gallon Tank,Natural Gas |
| Total Stories | 1 |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | No |
| Total Restrooms | 2 |
Exterior Features
| Parking Features | Fenced,Lighted Parking,Paved Parking,Private,Security/Monitored,Surface |
|---|---|
| Lot Features | Corner,Level,Rear Yard,SideYard(s),Additional Lot(s) |
| Water Source | Public |
| Inclusions | ALL in AS-IS Condition: 34 Dryers,26 Washers,Tables,Chairs,Laundry Carts,Coin Change Machine |
| Total Parking Spaces | 12 |
| Type of Parking | Driveway,On Street,Parking Lot |
| Land Use Code | AA0 |
| Foundation Details | Brick/Mortar |
| Water View Y/N | No |
| Building Area Total | 2433.00 |
| Lot Dimensions | 32.00 x 98.00 |
| Lot Size Acres | 0.07 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Door Features | Double Entry,Storm |
| Other Equipment | Negotiable |
| Land Assessed Value | 27274.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Fencing Y/N | Yes |
| LotDimensionsSource | Assessor |
| Car Parking Spaces | 12 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 19131
Price
Taxes
Visits
Year Built
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