531 S 55TH Street
Property Description
PROPOSED TWO-FAMILY, SUBJECT TO ZONING APPROVAL - or purchase as a single-family home with a legal in-law suite and private entrance. This fully renovated Cobbs Creek property is currently a legal single-family home (zoned RSA-5) and is offered here as a proposed two-unit. The seller will provide additional egress to the basement for independent access and a custom basement kitchenette, and may consider engaging the zoning process for a two-family dwelling. Two-family use is not approved today; buyers should verify zoning and permit requirements themselves, and are encouraged to make an offer and inquire. Proposed Unit 1 (finished walkout basement level): 1 bedroom and 1 full bath with direct access to the backyard; kitchenette and additional egress to be provided by the seller. Proposed Unit 2 (main and upper levels): 3 bedrooms and 2 full baths. The open main level has new hardwood floors and a chef's kitchen with an oversized island, designer backsplash, built-in wall oven and stainless appliances, plus a sliding glass door to a large, fully fenced backyard. Upstairs, the primary bath has a freestanding soaking tub and an oversized glass-enclosed shower. 4 bedrooms, 3 full baths and about 2,412 finished sq ft in total, with all-new electric, plumbing and central air. Close to University City, Penn, the major hospitals and Center City, and a short walk to Cobbs Creek Park. Seller is offering creative financing, including seller financing and a lease-purchase option, and will consider seller concessions. A 10-year tax abatement has been applied for (approval pending). Buyer grants may be available; buyers should inquire about grant eligibility. Seller is a licensed real estate professional. Note: Some listing photos are virtually staged or AI-generated renderings, including renderings of a proposed optional basement entrance; they are for illustration only and do not show current conditions. Inquire with seller regarding this optional secondary basement access.
Broker Details
Ergo Real Estate Company (215) 828-1447
MLS ID: 3192395 State License Number: RMR002133
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $443,425 |
| No. of Units: | 2 |
| Year Built: | 1925 |
| Lot Size: | 2,412.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $221,713 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-TRENDPA-PAPH2680688
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