Remarks

This unique opportunity isn't offered often. In fact, it has only had 2 owners in 70 years since known as "The Huston Dry Goods Emporium." This is your chance to own a piece of Chestnut Hill History in THE premier "Top of the Hill" location! Positioned prominently at the intersection of Germantown Avenue & Bethlehem Pike gives it the highest exposure. This unique, multi use building of over 9,300 Sq Ft, (circa 1860), offers 4 apartments (3-2 BR, 1 -1 BR) a large store front retail space, and two generous sized offices (+/- 1182 SqFt ea) with private entrances in the rear annex building. (added 1922) According to historical records, its' green serpentine stone facade with stone sills and wood cornices, is shared by only one other building on Philadelphia. Adding to its' convenient accessibility, it sets atop the Chestnut Hill West Regional Rail line leading directly to Center City and 30th street. Chestnut Hill is rich with a diverse offering of restaurants, local businesses, and homes ranging from cottages to mansions! Chestnut Hill was featured as one of the charming residential neighborhoods on Good Morning America's "Main Street USA" series! All units are currently leased with staggered expirations. Since current owner has historically kept lease rates low, the income is well below market value and even well below a conservative income projection! The location is vibrant with a blend of modern amenities and historic gems, with added appeal for its' proximity to Chestnut Hill Hospital, Chestnut Hill College, the beautifully expanding Woodmere Art Museum and the splendid Wissahickon Valley Park. This commercial corridor location allows open ended possibilities for significant increased profitability. See attached statement sheet with lease and utility information. As leases expire, this will allow a variety of alternative options for each unit. It is your time to approach this creatively and plant roots in this growing community. Showings must be set through listing agent and bank can be shown only during banking hours.

Details

MLS#: PAPH2434170
Price: $5,000,000

Year Built: 1880

County: PHILADELPHIA
Tax Fee: 58732.0