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1516 ARROTT ST Philadelphia, PA 19124
2,268 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Twin/Semi-Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,268 sqft
Price per Sqft $96
Subdivision Frankford
MLS Listing ID PAPH2661824
Style Colonial
Abv Grd Liv Area 2,268
Year Built 1935
Available Date 2026-09-18
Annual Tax Amount $2,658
Tax Year 2026
Lot Size 2,000 Sqft
Acres 0.05
Lot Dimensions 20.00 x 100.00
Property Sub-Type Twin/Semi-Detached
Source BRIGHT
Property Description
Unit Features and Rental Information: Unit 1R is vacant and features 1 bedroom and 1 bathroom, with a proposed rent of $850/month, including gas and water. Unit 1F is also vacant and features 1 bedroom and 1 bathroom; it was previously rented for $750/month, including gas and water, before the tenant was evicted. The second-floor unit features 1 bedroom and 1 bathroom and is currently rented for $725/month, including gas and water, with a lease expiring February 28, 2027. The third-floor unit features 1 bedroom and 1 bathroom and is currently rented for $750/month, including gas and water, on a month-to-month lease. The tenant has occupied the unit since 2024. Based on the proposed and current rents, the property offers approximately $3,075 in potential monthly rental income, or $36,900 annually, assuming all four units are rented at the stated amounts.
The property features one front entrance and two side entrances for convenient access, while the rear of the first-floor unit offers additional storage or potential for expansion. The fully renovated building next door highlights the potential of this corridor. Frankford keeps you connected, with the Market-Frankford Line and Frankford Transportation Center providing convenient access to Center City, along with shopping and dining along Frankford Avenue.
Financing Assistance: KeyBank is offering a $5,000 credit for this property, which may be combined with the Philly First $10,000 grant, subject to eligibility and approval. The KeyBank credit may be applied toward eligible expenses, including closing costs, prepaid mortgage or hazard/flood insurance, escrow deposits, real estate taxes, or per diem interest. The program is available for eligible buyers purchasing an owner-occupied principal residence, so the buyer must occupy the property as their primary residence. Whether you're an owner-occupant looking to offset your housing expenses with rental income or an investor seeking a value-add opportunity, this property offers flexibility and income potential. A minimum of 24 hours' notice is required for showings of occupied units. Schedule your private showing today!
Location
State PA
County Philadelphia
Area 19124 (19124)
Zoning RSA3
Rooms
Basement Full
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
View Street
Accessibility None
Garage N
Private Pool No
Building
Foundation Stone
Above Ground Finished SqFt 2268
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 232140100
Ownership Fee Simple
SqFt Source 2268
Acceptable Financing Cash, Conventional, FHA, Exchange
Listing Terms Cash, Conventional, FHA, Exchange
Financing Cash,Conventional,FHA,Exchange
Special Listing Condition Standard
Virtual Tour https://view.ricoh360.com/ef9ee076-6e70-4689-be4a-1892f23db9d6
