700-2 W RITNER ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19148
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,090 sqft
Price per Sqft $201
Subdivision Whitman
MLS Listing ID PAPH2396364
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $6,115
Tax Year 2023
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 30'wide X 60'deep
Property Description
Laundromat Business & Multi-Family Property located in the most desirable Prime South Philadelphia Location. This exceptional opportunity presents the acquisition of a thriving Laundromat business alongside two strategically located buildings(700 Ritner #871554970 CMX1 & 702 Ritner # 871554980 CMX2 )in the highly desirable South Philadelphia neighborhood.
Laundromat Business: Well-established and consistently profitable. Equipped with 18 high-quality washers and 27 dryers. Generates substantial gross annual sales exceeding $53,000. Offers immediate cash flow and a strong return on investment. Owner-occupied, providing valuable operational insights and flexibility.
Real Estate: Two separate buildings (700 Ritner #871554970 CMX1 & 702 Ritner # 871554980 CMX2) offering significant potential. Includes two income-generating apartments currently occupied with a combined monthly rental income of $1,800. Features a full basement in the Laundromat building, providing valuable storage and expansion possibilities.
Investment Highlights: Diversified income streams from both the Laundromat business and rental units.
Prime location in a densely populated and rapidly growing neighborhood. Strong potential for rental income growth and business expansion. Ideal for both owner-operators and investors seeking a stable and profitable asset.
All interested buyers must submit proof of funds to demonstrate their financial capacity to proceed with the showing and purchase. Please do not disturb employees during business hours.
This is an exceptional opportunity for a savvy investor or entrepreneur to acquire a valuable asset with significant growth potential.
Location
State PA
County Philadelphia
Area 19148 (19148)
Zoning CMX1 & CMX2
Interior
Hot Water Natural Gas
Heating Baseboard - Hot Water
Cooling Wall Unit
Flooring Tile/Brick
Inclusions Laundromat Business
Heat Source Natural Gas,Electric
Exterior
Water Access N
Roof Type Flat
Accessibility 36\"+ wide Halls
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871554970
Ownership Fee Simple
SqFt Source Estimated
Security Features Surveillance Sys
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard