Exceptional 4-Unit Income Property in the Heart of the Art Museum Area! 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… Read More 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. Read Less
Courtesy of Michael Suh, Keller Williams Real Estate -Exton [email protected]
Listing Snapshot
Days Online
13
Last Updated
Property Type
Townhouse
Square Ft.
2,397
Lot Size
0.04 Acres
Year Built
1920
MLS Number
PAPH2476616
30 Days Snapshot Of 19130
$516k
+26%
(avg) sold price
34
+47%
homes sold
62
+58%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
2,397 sqft living area, Built in 1920, Structure Type: Interior Row/Townhouse, 4 units in building, Converted Dwelling, Masonry
Cooling
Central Air, Electric, Central A/C
Expenses
Trash Expense: $500
Exterior Features
Exterior Lighting, Roof Deck
Fireplaces
4 fireplaces
Floors
Hardwood, Carpet
Foundation
Brick/Mortar
Heating
Electric, Heat Pump - Electric BackUp
Income
Apartment Rentals
Lot
1,615 sqft, Lot Size Dimensions: 17.00 x 95.00, 0.04 acres
Property
Historic, Other Structures: Above Grade, Below Grade, Other Units: Unit 1, Unit 2, Unit 4, Unit 3, 1 one-bedroom unit, 3 two-bedroom units
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
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