2,310 SqFt
2,310 SqFt
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 2,310 sqft
Price per Sqft $266
Subdivision East Kensington
MLS Listing ID PAPH2582090
Style Unit/Flat
Abv Grd Liv Area 2,310
Year Built 1917
Available Date 2026-02-15
Annual Tax Amount $10,848
Tax Year 2025
Lot Size 1,141 Sqft
Acres 0.03
Lot Dimensions 14.00 x 82.00
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
A rare opportunity to acquire a fully renovated triplex in one of Philadelphia's most desirable markets. All three 2-bed/1-bath units have been updated with new kitchens, hardwood floors, central AC and heat, in-unit washer/dryer, and updated plumbing, electric, and mechanicals, making this a true turnkey asset with strong tenant demand from day one.
The property currently generates $55,020 in annual gross rental income which would put it at 11.18x GRM which is better than the area average of 11.55x, even though two of the three units were leased $100 to $150 below market during the off-season in September & November. Lease expirations are in June, July, and August which align perfectly with peak rental season, giving the new owner a clear path to capture that upside without any construction.
There is also a meaningful tax opportunity. The city slapped a huge $10,800 annual tax bill on the property which is based on a city's 750k assessment. An appeal at the $615K purchase price would bring taxes down to approximately $9,000, saving roughly $1,800 per year. Combined with the rent increases, that is over $4,200 in additional annual income achievable through leasing and paperwork alone, pushing the projected CAP rate to 6.6% and GRM to 10.62x with conservative rents, which is exceptional for this submarket.
For the owner-occupant, this is truly turnkey. Move in, skip the leasing process, and start collecting rent on day one in a natural house-hack setup where the other two units cover your carrying costs while you settle in. All current tenants are highly qualified and maintain the property well. All the units are beautifuly furnished & taken care of. A mortgage broker is available to consult on monthly payments and how to acquire this asset with as little money down as possible.
Leases, applications, and full rent history available upon request.
Location
State PA
County Philadelphia
Area 19125 (19125)
Zoning RM1
Rooms
Basement Other
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Hardwood
Inclusions Appliances & fixtures
Equipment Dishwasher, Range Hood, Refrigerator, Washer, Dryer
Fireplace N
Appliance Dishwasher, Range Hood, Refrigerator, Washer, Dryer
Heat Source Natural Gas
Exterior
Exterior Feature Patio(s)
Utilities Available Natural Gas Available, Electric Available
Water Access N
Accessibility None
Porch Patio(s)
Garage N
Building
Foundation Other
Above Ground Finished SqFt 2310
Sewer Public Sewer
Water Public
Architectural Style Unit/Flat
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 313038200
Ownership Fee Simple
SqFt Source 2310
Acceptable Financing FHA, Conventional, Cash
Listing Terms FHA, Conventional, Cash
Financing FHA,Conventional,Cash
Special Listing Condition Standard
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Partner | Lic# RS284038