1501 E Cheltenham Ave, Philadelphia, PA 19124

Description

Attention all investors: the opportunity is knocking!
Do not miss this investment opportunity on the rather rare and spacious mixed-use Corner Property in a great location of the desirable Oxford circle, steps away from local shops, restaurants, and public transportation with easy access to Roosevelt Blvd, Bustleton and Frankford Avenues. This property offers a versatile combination of commercial and residential spaces for a great investment opportunity. It offers a prominent street-level presence with potential built-in signs you can put there at the entrance and its strategic corner location on the intersection of two well-known streets to enhance business exposure.
This property consists of 2 attached residential single-family homes, and a mixed-use unit located in the basement which can serve a multiple variety of business such as but not limited to store-front, office space, storage facility, etc. All three units feature their own separate entrances.
The 1501 E Cheltenham Ave: 2-leveled unit atop of a store-front commercial unit offers a straight-through main level with enclosed porch, Living room, Dining area and a kitchen, this unit’s second floor contains 3 bedrooms, a full hallway bathroom with ceramic tile flooring. The home features wall to wall carpets, and a neutral décor.
The other residential unit, 1503 E Cheltenham Ave, is pretty much similar to the first one, but there is a good-sized covered patio upfront, instead of the “1501’s” enclosed porch, followed by the entrance door into the property.
The former business space unit is rather large, open layout main room space with the secured gate entrance, plenty of shelving stands, wall shelves, counter spaces, enclosed space with the register and a vanity sink to compliment conducting of a business from this location. Also there are multiple storage rooms in the back with more shelving units and a powder room. The commercial space is centrally air-cooled for the convenience of customers.
Additionally, this property has a driveway in the back for the off-street parking.
NOTE: All these three units are sold together in one RE transaction and cannot be separated.

1501 E Cheltenham Ave: occupied on the month-to-month basis
1503 E Cheltenham Ave: still has a yearly Lease until 03/31/27
Mixed-use basement is vacant

The residential units are still occupied with nice, good-paying tenant that are current on their rents. This property is being sold AS-IS, WHERE-IS with the existing Residential Leases being transferred to the Buyer at the Settlement. It is requires some love and updating but has lots of great potential. The mixed-use basement still has all the shelving units and equipment that for the right price can be negotiated to be included in the Sale. The Price is firm, but very reasonable for a quick sale. Lowball offers would not be accepted nor considered.