Description

Rare South Philly offering at 521–523–525 Mifflin St featuring three separately deeded 16x68 parcels being sold together (Tax IDs: 011415100, 011415200, 011415300). The property includes one existing home and two vacant lots, offering exceptional flexibility for an end user or investor. The conservative After-Renovated Value for 525 Mifflin, the house, is $675k+, and pricing for the new construction on 521 & 523 is $725k+ for a total of $2,125,000 or more after you've completed the renovations & new build. Rent out the house while you build for about $2200/mo, and once done, if you choose to renovate and rent, ARV rents are $2800/mo or more. This parcel is ideal for creating an urban compound with an oversized residence and expansive outdoor space, or for a development play while generating immediate cash flow. The home at 525 Mifflin is a large 4-bed, 2-bath property that was formerly configured as a multifamily. It now offers generous living spaces, including a spacious second-floor laundry room and a deep basement that is plumbed for a full bath. The basement also features a full-size window and provides full-height access to the side of the home. The kitchen includes stainless steel appliances, ample cabinetry, and a breakfast bar that opens to the living and dining areas for easy entertaining. A side deck off the kitchen is perfect for morning coffee or al fresco dining. Additional features include wood floors, recessed lighting, original wood banisters, excellent closet space, and a second-floor ensuite bath, plus an additional 2nd-floor bathroom. There is also potential for a future roof deck off the third floor. The home also offers dual-zoned heat and central air, two high-efficiency heaters, and a high-efficiency water heater. There are three electric meters, two panels, and one gas and one water meter. The rear garage is currently used for storage. There is also a person-sized door to the yard and an electronic overhead door that provides vehicle access to the lots, offering the opportunity to build new homes or create a private outdoor oasis with off-street parking. The location is just 3 blocks from Dickinson Square Park and about a half mile to the shops and restaurants of Passyunk Ave. It offers convenient access to I-95, I-676, and Columbus Blvd retail. The Broad Street Subway at Tasker-Morris is a 15–20 minute walk. This is a truly unique opportunity for an end user, investor, or developer to create something special in one of South Philadelphia’s most desirable neighborhoods.