This Document Presents a Detailed Project Analysis And Buyer’s Purchase Offer for the Property at 6149 Wister St, Philadelphia, PA 19138
Good Faith Offer
Proposal to Purchase & Revitalize 6149 Wister Street
Buyer: Maleak Ali, Underground Nation International LLC
Seller: Mr. Robert Moore, Property Owner
Location: 6149 Wister Street, Philadelphia, PA 19138
June 16, 2025
Dear Mr. Robert Moore,
I appreciate the opportunity to present this Good Faith Offer for the purchase of your property at 6149 Wister St, Philadelphia, PA 19138. My goal is to ensure a fair, transparent transaction that provides immediate financial benefits to you while securing the long-term success of the property.
Offer Terms:
• Purchase Price: $50,000 (Cash Offer)
• Earnest Money Deposit: [$1,000] (Secured in escrow upon acceptance)
• Closing Timeline: Expected within [90] days
• Payment Terms: Full cash payment at closing, with seller-financed options for additional flexibility
Property Condition & Justification for Offer:
Last listed at $85,000 in 2021, but has been unoccupied for over 10 years Requires a new roof, along with noted exterior plumbing issues.
Given the necessary repairs and renovations, my offer reflects the realistic investment value
Flexible Financing Options – Benefits to the Seller:
The seller has expressed interest in helping facilitate the transaction through two financing alternatives:
Option 1: Seller Financing (Taking Back a $35,000 Mortgage)
1. Steady income – You receive fixed monthly payments on the $35,000, generating passive income.
2. Higher total return – Instead of a lump sum, you secure long-term earnings, potentially exceeding a conventional sale.
3. Reduced tax burden – Seller financing may offer tax advantages by spreading income over time.
4. Security in the investment – The mortgage will be secured by the property, ensuring protection.
Option 2: Co-Signing a Bank Loan with Buyer
1. Expedited transaction – A co-signed loan can fast-track financing, leading to a quicker closing.
2. Maintained interest in property’s success – Your involvement ensures the property is redeveloped to its full potential.
3. Enhanced property value – As a co-signer, you’ll support an investment that increases the long-term worth of the asset.
4. Limited financial exposure – Co-signing does not require upfront cash, just a shared financial responsibility ensuring a successful investment.
Why This Offer Benefits You:
Immediate or structured cash flow – Whether through direct payment or financing, you receive guaranteed financial benefit.
Quick & hassle-free closing – Both payment structures ensure a smooth transaction, minimizing delays.
No repair costs on your part – Selling as-is means you avoid costly renovations.
Future property enhancement – My planned redevelopment includes a recording studio, auto detailing garage, and servicing office, bringing new business to the area.
Mr. More, I am committed to working with you on the most beneficial financing approach, ensuring a strong return on your investment while securing the future of this property. Please let me know your thoughts so we can move forward with the best path together.
Sincerely,
Maleak Ali, President
FRONT VIEW: AS IS
FRONT VIEW: REVITALIZED
SIDE VIEW
VISION FOR THE PROPERTY
This historic tire shop has incredible potential for a modern transformation. Mr. Moore, my goal is to create a new multi-business space featuring:
• Auto Detailing Garage (1,100 sq. ft.)
• Recording Studio (350 sq. ft.)
• Water Ice & Takeout Restaurant (350 sq. ft.)
WHY THIS WORKS
1. Great Location: Philadelphia’s CMX2 zoning allows commercial mixed use.
2. No Major Structural Changes Needed: Renovation costs are manageable.
3. Business Growth Potential: Auto detailing is already established—adding food & entertainment makes this a high-traffic destination.
• Seller’s Role: You can retain interest while I build up the business.
Your Involvement (Optional)
If you’re open to staying involved, here are ways we can work together:
REVITALIZED
Temporary Ownership Stake: You hold minor financial interest until the business is profitable.
• Advisory Role: Your experience can help guide the startup process.
• Revenue Sharing: A portion of profits can go toward a gradual buyout plan.
The Next Steps
Let’s discuss terms and finalize details that work for both of us. I’ll work on permits, funding, and phased renovations to bring this vision to life. Together, we can turn 6149 Wister Street into something incredible!
6149 Wister St is a 1,800 sq. ft. (20’ x 90’) single-story commercial property built in 1925, sitting on a 1,910 sq. ft. lot in Philadelphia’s CMX2 (Commercial Mixed-Use)
AUTO DETAILING SHOP
Built: 1925
1,910 Sqft
Area: 1,800 Sqft
Bedrooms: 3
Hot Water
Price: $30K (in
Home Value: for price (based on assessments)
CMX2 (Commercial Mixed-Use)
History: Assessed at 2021.
ICE
Renovation Cost Breakdown for 6149 Wister Street
Recording Studio (350 Sq. Ft.)
Total: $38,000–$84,000
Auto Detailing & Servicing Garage (1,100 Sq. Ft.)
Total: $45,000–$87,000
Water Ice & Takeout Restaurant (350 Sq. Ft.)
Total: $19,000–$42,000
Total Rehab Estimate: $102,000 – $213,000 NO STRUCTURAL CHANGES (Approx. $56/sq. ft.) Total REHAB COSTS PER
A TOP-DOWN DIGITAL FLOOR PLAN FOR A 1,100 SF AUTO DETAIL SHOP.
The layout includes a large vehicle bay with space for multiple cars, detailing stations with high-pressure hoses and workbenches, a customer waiting area with seating and a reception desk, a storage section for cleaning supplies, and a small office for administrative tasks. The space is optimized for workflow efficiency, with clear entry and exit points, overhead lighting, and drainage systems. The aesthetic is sleek and professional, featuring durable flooring and well-organized work zones. Image is a 3D Design, actual plans may vary.
The layout includes a compact kitchen area with a stove, oven, refrigerators, and prep counters. There is a front counter with a cash register, a take-out service window, and a small waiting area for customers. The seating arrangement consists of a few table-chair combos along the perimeter. Optimized for efficiency, the space features clear walkways for staff movement and a streamlined food pickup section. The aesthetic is modern and welcoming, with warm lighting and durable surfaces. Image is a 3D Design, actual plans may vary.
Water Ice & Takeout Restaurant (350 Sq. Ft.)
• Interior Walls & Partitioning: $5,000–$10,000
• Electrical & Lighting Upgrades: $3,000–$7,000
• HVAC & Ventilation: $2,000–$5,000
• Flooring & Interior Finishes: $4,000–$8,000
• Kitchen Equipment & Furnishings: $5,000–$12,000
Total: $19,000–$42,000
A TOP-DOWN DIGITAL FLOOR PLAN FOR A
350
SF MUSIC PRODUCTION STUDIO.
The layout includes a recording booth with soundproof walls, a mixing station with high-end audio equipment, an instrument storage area with racks for guitars and keyboards, a comfortable seating section with couches for artists, and an acoustic-treated wall. The space is designed for collaboration, with warm ambient lighting and a sleek, modern aesthetic in neutral tones. Image is a 3D Design, actual plans may vary.
