UPDATED:
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 2,397 sqft
Price per Sqft $479
MLS Listing ID PAPH2476616
Style Converted Dwelling
Abv Grd Liv Area 2,397
Originating Board BRIGHT
Year Built 1920
Available Date 2025-05-05
Annual Tax Amount $10,247
Tax Year 2024
Lot Size 1,615 Sqft
Acres 0.04
Lot Dimensions 17.00 x 95.00
Property Sub-Type Interior Row/Townhouse
Property Description
Incredible opportunity to own a rent-ready, cash-flowing multi-family building in one of Philadelphia's most desirable neighborhoods—Fairmount/Spring Garden. This well-maintained 4-unit property features three spacious 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Ideal for investors or owner-occupants seeking immediate income and long-term value.
Three units are tenant-occupied, generating $56,760 in gross rent in 2024, with strong rental upside—rents have not been raised in 3 years. The owner-occupied 2-bedroom/2-bath unit has rental potential of $2,200–$2,400/month.
Market Rent Value Potential
APT 101- 1350
APT 102 - 2200 (rented out beginning mid June)
APT 201 - 2500
APT 202 - 2200
TOTAL - 8,150/month = 97,800/year in gross income.
At asking price the cap rate is 7%. based on net rental income at $80,000 (after ins, taxes, and maintence)
Property Highlights:
Turnkey condition—fully rent-ready and move-in ready
Three new A/C units installed in the last 3 years
Two units with private roof decks offering skyline views
One unit with private backyard patio
Every unit has washer/dryer, dishwasher, fireplace
Immediate cash flow with future growth potential
Perfect blend of income-producing and lifestyle location
Located in the vibrant Art Museum area with easy access to Kelly Drive, I-76, Center City, and public transit. A rare find in a high-demand rental market—whether you're building your portfolio or looking to live in one unit while renting the others, this is a must-see.
Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning RM1
Interior
Hot Water Electric
Heating Heat Pump - Electric BackUp
Cooling Central A/C
Flooring Hardwood, Carpet
Fireplaces Number 4
Fireplace Y
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 152071805
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, VA
Listing Terms Cash, Conventional, VA
Financing Cash,Conventional,VA
Special Listing Condition Standard
