1931 W. 3rd Street Chester PA 19013
Investment opportunity with excellent capital appreciation potential when rehabbed
Great potential for this 5-unit multi-family property
Strong rental demand expected for the rehabbed units being located in a convenient and accessible location, just 2 miles from Downtown Chester, 13 miles from Wilmington Delaware and 21 miles from Downtown Philadelphia PA.
High rental rates- Excellent income potential:
Total estimated gross rental income: $5,000/ month ($60,000/ year)
Description
The property is three story high with a two-story extension and of solid brick construction. It has many beautiful architectural features including a bay window, decorative features and beautiful arched windows. The total area of the building is 4,368 sq ft and contains a total of 5 units.
Lot area: 2,788 sq ft
Condition
The property has been vacant for a while, has fire damage and now needs a full and complete rehab.
Pleasant and quite location:
The property is located on a quiet street with a mix of different type of residential properties. It is conveniently situated in an accessible location, just 2 miles from Downtown Chester, 13 miles from Wilmington Delaware and 21 miles from Downtown Philadelphia.
Distance to other cities:
The property is close to local facilities and amenities:
Restaurants
Good & Pure1 (0.03mi), B & S Sandwich Shop (0.1mi), Hoagie's R Us (0.1mi), Chickie's & Pete's (0.3mi), Shugar Shack Soul Food LLC (0.4mi), Humdiggidy's (0.5mi), 7th Street Minimarket (0.5mi), Chang Jiang Chinese Restaurant (0.6mi), Two J's Sandwich Shop (0.6mi), B & C Restaurant (0.6mi), Momma Mia's Breakfast/Soul food Restaurant (0.6mi), Just Pizza (0.7mi), Yun Xiang Chinese & American Food (0.7mi), Ob's Jamaican Restaurant (0.7mi), April's Kitchen (0.7mi), Ginos Pizza Store (0.7mi), New York Fried Chicken & Grill (0.8mi), No 7 (0.9mi), Boots & Bonnets (0.9mi), Ginn's Restaurant & Bar (0.9mi), Trainer's Wholesale (0.9mi), Happy House (0.9mi), Lee Seafood (1mi), Smiley's City Grille (1.1mi), China Garden (1.1mi), Pyramids Pizza (1.1mi), Beijing House (1.1mi), Furillo's Sandwich Shop (1.1mi), Chester Jamaican KITCHEN (1.1mi), N Y Fried Chicken (1.1mi), Stacky's Sandwich Shop (1.2mi), Karolina Kitchen (1.2mi), Dethomasis Catering Services (1.3mi), The Gold Room (1.4mi), Gino's Pizza (1.4mi), Event Designers (1.4mi), Brothers Restaurant and Juice Bar (1.4mi), Cambridge Restaurant (1.5mi), Chester Pizzeria (1.5mi), G & G Pizza (1.6mi)
Coffee
Church of the Overcomer (1.1mi), 7-Eleven (1.6mi), Starbucks (2.1mi), Einstein Bros Bagels (2.1mi), Industry Coffee Works (2.2mi), Dunkin' Donuts (2.2mi), WU Brew Café (2.2mi), McDonald's (2.2mi), Dunkin' Donuts (2.3mi), Kirkbride Express (2.3mi), Corner Café (2.4mi), McDonald's (2.6mi), 7-Eleven (2.7mi), Starbucks (2.9mi), Auntie Anne's (2.9mi), Taste Budz Café (3mi), Quattro Cafe in the Baldwin Tower (3mi), Dunkin' Donuts (3mi), McDonald's (3mi), Dunkin' Donuts (3.5mi), Mc Donald's (3.6mi), McDonald's (3.7mi), Dunkin' Donuts (3.7mi), Frankie's on Fairview (3.8mi), 320 Market Café (4mi), Dash In (4.3mi), 7-Eleven (4.4mi), Miller's Café (4.9mi), Dunkin' Donuts (4.9mi), Hobbs (4.9mi), Cafe 7 (5mi)
Bars
Hayes Lounge (0.4mi), Love Lounge (0.6mi), Bill's Tavern (0.6mi), Wesolowskis Bar (0.7mi), Kelly's Bar II (0.8mi), Bennie's Tavern Inc (1.5mi), Neighborhood Tavern (2mi), Sweeney's Pub (2.2mi), Applebee's Neighborhood Grill & Bar (2.7mi), R and S Club (2.8mi), Bootleggers (2.8mi), Liberty Tavern And Steaks (2.8mi), Hunt's Annex Lounge (3.5mi), Mctullio's Pub (3.7mi), Jack Cassidy's Irish Pub (4.1mi), Rick's (4.2mi), Darley Tavern (4.4mi), Burgundy Lounge (4.4mi), Red Fox Inn (4.6mi), The Deck At Harbor Pointe (4.6mi), Applebee's Neighborhood Grill & Bar (4.7mi), Martin's Tap House (4.7mi), Lehman's Tavern (4.8mi), The Tavern At Burk's Bend (4.9mi)
Groceries
B&N Food Market (0.3mi), Peters' Market (0.5mi), House Of Oilz (0.6mi), Chester Farmers Market (0.6mi), KNF Market #6 (0.6mi), Manly Fine Meats & Grocery (0.7mi), De Marco's Market (0.8mi), Fare & Square (0.9mi), Farmers Produce (1.1mi), Chez Penn Food Market (1.1mi), Sam & Sam Meats (1.6mi), Dollar Tree (1.8mi), Twin Grocer II (1.9mi), Oh Ryan's Irish Potatoes (2mi), Sister Food Market (2mi), Avenue Market (2.2mi), Lee's Market (2.2mi), lucky7 deli (2.3mi), EG's Food Base (2.3mi), GNC (2.4mi), Save-A-Lot (2.4mi), Burman's Health Shop (2.4mi), Action Market Consultants Inc (2.6mi), PA Wine & Spirits (2.6mi), Swiss Farms (2.7mi), Grocery Outlet (2.8mi), We Got Nutrition (2.8mi), Brewers' Outlet (2.8mi), Di Scala Deli (2.9mi), Giant food stores (2.9mi), Fine Wine & Good Spirits (2.9mi), ALDI (3mi), ShopRite of Eddystone (3mi), Produce Junction (3.1mi), Wine & Spirits Stores (3.1mi), Del Monte Fresh Produce Co (3.1mi), Aston Beverage Outlet (3.1mi), GIANT Food Stores (3.1mi), ShopRite of Brookhaven (3.1mi), Super Beverage Warehouse (3.1mi)
Parks
Veterans Memorial Park (0.4mi), Caleb Pusey Historic Site (1.1mi), Crozier Park (1.2mi), Camp Upland (1.3mi), Camp Upland Park (1.3mi), Worrilow Park (1.6mi), Deshong Park (1.7mi), Chester Park (2.4mi), Washington Park (2.5mi), Taylor Memorial Arboretum (2.6mi), Bridgeport Speedway (3.6mi), Delaware County Park (3.8mi), East Lake Park (4.1mi), Willow Park (4.2mi), Delaware County Park (4.2mi), Governor Printz Park (4.6mi), John Heinz National Wildwife Refuge (4.7mi), Morton Homestead State Park (4.9mi), Louis Silvastro Lake Park (5mi), Parrish Beach (5mi)
Schools
Center For Self Development (0.3mi), Frederick Douglass Christian School (0.4mi) Faith Temple Christian School (0.8mi), Stem At Showalter (0.8mi), Institute of Islamic Studies (1.1mi), Chester Upland School of Arts (1.1mi), Refuge Christian Academy (1.2mi), Columbus Elementary School (1.3mi), Chester High School - Main Campus (1.3mi), Amazing Grace Christian Academy (1.4mi), Main Street School (1.5mi), Chester Charter School For the Arts (1.6mi), Chester Community Charter School (1.7mi), Choices School (1.8mi), Our Lady Of Charity School (1.9mi), Widener Partnership Charter School (1.9mi), Holy Saviour St John Fisher School (2.1mi), Marcus Hook El School (2.1mi), Milagre Kids School (2.1mi), Toby Farms Intermediate School (2.2mi), Drexel Newman Academy (2.3mi), Parkside Elementary School (2.3mi), New Beginnings Academy (2.3mi), Linwood El School (2.3mi), Widener University Child Development Center (2.3mi), Northley Middle School (2.3mi), Stetser El School (2.4mi), Sun Valley High School (2.4mi),The Christian Academy (2.5mi), Kindercare Learning Center (2.6mi), Kiddie Kampus Learning Center (2.6mi), Coebourn El School (2.7mi), Eddystone El School (2.8mi), Chichester Middle School (2.8mi), St Joseph School (2.9mi), Media Children's House Montessori School (3mi), Hilltop El School (3mi), Chichester Senior High School (3mi), Pennell El School (3.1mi), Boothwyn El School (3.1mi)
Shopping
Union Shop (0.2mi), Family Dollar Store (0.4mi), Jes Made Bakery (0.5mi), Kyj's Bakery (0.5mi), Steve & Co (0.5mi), Salvelosity (0.5mi), Sakkstyles (0.5mi), Ninth Street Coastal (0.6mi), Family Dollar Store (0.8mi), Safinco (0.8mi), Dollar General (0.9mi), 1000 % True Exclusive Deals (1mi), 1000 % Most Exclusive Deals (1mi), Mano's Gulf (1.1mi), Country Bagel Donut & Deli (1.1mi), Tyra's Closet (1.1mi), Burke Landscape Supply (1.2mi), Express Printing (1.2mi), Akilah Fashions (1.4mi), DTLR (1.5mi), YaMean's Clothing & Designs (1.5mi), Huisoo Chong (1.5mi), Sandrose Trophies (1.5mi), Nebula Gallery (1.5mi), Ali's Outlet (1.5mi), Upland Furniture (1.5mi), Chester Fashions (1.5mi), Chester Kiddie Shop (1.5mi), 7-Eleven (1.5mi), Cott Beverage USA Inc (1.5mi), Family Dollar Store (1.5mi),Rainstar Industries Inc (1.5mi), Cricket Wireless Authorized Retailer (1.5mi), Phatso's Bakery (1.6mi), Concord Beverage Co (1.6mi), Cott Beverage USA Inc (1.6mi), Family Dollar Store (1.6mi), Dollar General (1.6mi), Customize Teez LLC (1.7mi), McCall's T Frank (1.7mi)
Entertainment
Talen Energy Stadium (0.3mi), Caleb Pusey House (1.1mi), DCHS Museum & Research Library (1.5mi), Museum of The History of Delaware County (1.5mi), Chester Historical Preservation Committee (1.9mi), The Block (2.1mi), Brandon Powell's Sports Autograph Museum (2.1mi), Marcus Hook Community Center (2.2mi), Seven Seas Aquarium (2.3mi), Sun Village Sports Club (2.4mi), Bette's Family Fun Center (2.5mi), Redbox (3mi), Pennsylvania Welcome Center (3mi), Mickey Vernon Sports Museum (3.1mi), Redbox (3.1mi), Monarch Billiards (3.3mi), Rails to Trails endpoint (3.4mi), Kent Studios (3.4mi), Redbox (3.5mi), Robinson House (3.6mi), Redbox (3.7mi), Tri State Music & Video World (3.8mi), The Players Club of Swarthmore (4.2mi), Hedgerow Theatre (4.3mi), Rose Valley Museum (4.4mi), Barnstormers (4.4mi), Redbox (4.4mi), West End Boat Club (4.4mi), Redbox (4.5mi), Royal Billards Players Club (4.5mi), Corinthian Yacht Club (4.5mi), Essington (Philadelphia) (4.7mi), 1799 Lazaretto Interpretive Museum (4.7mi), Waterfall Banquet & Conference Center (4.7mi), Lazaretto Ballroom (4.7mi), Heron Gallery & Studios (4.8mi), Video Tape Library (4.8mi), Tinicum Township Historical (4.9mi), Morton Homestead (5mi)
Errands
Joe's Building & Plumbing Supply Inc. (0.2mi), Delaware County Linen (0.4mi), FedEx (0.5mi), Good Health Pharmacy (0.5mi), Deann Warren (0.6mi), Hany M. Gaballa, RPI (0.6mi), JSSK Laundromat (0.8mi), Ace Linen Services (0.8mi), Chester Discount Pharmacy (0.8mi), Jekk Tools & Fasteners, Inc. (0.8mi), Coburn-Myers Bolt & Nut (1mi), Parker Store (1.1mi)
(walkscore.com)
Demographics for Chester PA 19013:*
Total population 34,102
Black/ African American: 68.7% White: 16.0%
Number of employees: 11,737 – Yearly job growth : 1.22%
* https://datausa.io/profile/geo/chester-pa/
THIS IS A UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A POTENTIALLY HIGH INCOME PROPERTY AT A DISCOUNTED PRICE IN A GREAT LOCATION.
Great investment opportunity:
The property has excellent capital appreciation potential when rehabbed.
Rental income:
Income potential once rehabbed: $1,000/ month/ unit*
Strong demand expected being located in a convenient and accessible location, just 2 miles from Downtown Chester, 13 miles from Wilmington Delaware and 21 miles from Downtown Philadelphia.
Nearest rent comparable*: 2100 W 4th St Chester PA 19013 (0.2 miles): 2 bedrooms: $1,150/ month
Based on an average monthly rent of $1,000/ month per apartment (which is lower than the nearest comparable), total estimated gross rental income: $5,000/ month
*hotpads.com
Taxes:
Delaware County PA - Tax Map ID # : 49-20 -366:000
No back taxes due, all paid to May 2019.
2019 City taxes were paid May 30 in the amount of $1410.94
2019 County Taxes paid May 14 in the amount of $391.55
2019 School taxes due July 2019 (estimate $1,664 based on 2018 figure)
PROPERTY IS SOLD AS IS, WHERE IS-
Buyer assumes real estate taxes, liens, bills and encumbrances.
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
Buyer will also be responsible for $500 deed prep and doc fee as well as 8 % premium.
10% non-refundable deposit (minimum $1,000), auction premium (Minimum $250) and $500 deed preparation and doc fee are due within 24 hours of auction close.
Final Payment to be made within 2 days of the Auction close.
All bidders to do their due diligence. Property is sold on a Quit Claim deed. Buyer assumes real estate taxes, liens, bills and encumbrances. There is a sewer lien of $4,522 and water lien of $2,579. Buyer is responsible for directly checking the exact up-to-date amounts of the back taxes, liens and sewage and water liens. Buyer is also responsible for directly checking and complying with any notices and the requirements of the building code department. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. Buyers are bound by the Purchase Agreement if attached under the Due Diligence section. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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