$1,499,000

555-57 N 5th St

PHILADELPHIA PA, 19123

Description

For visionaries, investors, and developers only, this is a truly unique property with a variety of development opportunities. There is much potential here, including renovation into a luxurious single-family home; a fabulous multi-family condo; an income-producing multi-family; an extraordinary boutique hotel; or home to a creative start-up business. The main structure was originally built as a magnificent single-family home in the 1870s including a garden where the small structure stands. In the first half of the 20th Century, the property was converted to a speakeasy last known as the Comet, which included a bar, rooms for gambling, and a bowling alley. The current owner purchased the property in 1984 and has since worked diligently to preserve its architectural beauty. At the time of the purchase in 1984, the property was zoned commercial. The property was rezoned to residential by the current owner in 2011 in order to obtain a residential mortgage. There is potential to rezone the property back to commercial use, as well as obtain a variance for a driveway cutout to convert the smaller building into a garage. Opportunity abounds. The photos speak for themselves.

Details

MLS#PAPH933268
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1920
Days On Site16

Features

SQ Feet5,130
Units2
ZoningRSA5
Loading Form
Loading Form
Area Information
StatePA
CountyPHILADELPHIA-PA
CityPHILADELPHIA
Zip Code19123
Area19123 (19123)
Listing VS Median (in 19123)
Price:
$1,499,000
low | high
Med:
$4,200
100% of Average
SqFt:
5,130
low | high
Med:
2,408
100% of Average
$ / SqFt:
$292
low | high
Med:
$2
100% of Average
On Site:
16
low | high
Med:
9
100% of Average
Listing Updated: 09/24/2020
Michael Garden LogoMLS Number: PAPH933268
Listing Provided By:
Michael Garden  of  Space Company
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Bright MLS. 

© 2020 Bright MLS, All Rights Reserved