5304 Chestnut St, Philadelphia, PA 19139

Property Description

Are you looking for an income-producing, turnkey duplex with a house-hacking opportunity? How does buying your first home, living in one unit, and having most of the mortgage paid by the other sound? 5304 Chestnut Street is the solution to both, and it offers the benefit of a completely gutted 2023 renovation with established rental history. This two unit, RM-1 zoned property includes all new mechanical systems, framing, roof, windows, plumbing, and electric, giving the next owner the benefit of major system replacements instead of simple cosmetic upgrades. Step into hassle free ownership! The property is configured as two 2-bedroom, 1-bath apartments, each with their own private entrance and separately metered utilities. Both units feature central air, in-unit laundry, modern kitchens with shaker style cabinets, stainless steel appliances, quartz countertops, and updated bathrooms. The open layouts, neutral finishes, recessed lighting, and durable flooring create comfortable, functional spaces that are easy to maintain and appeal to today's renters. The added bonus is the rental history. The same tenants have been in place since the 2023 renovation, with solid payment histories for both units. For an owner occupier or an investor, that means you’re not starting from scratch, but rather, you’re acquiring a recently renovated property with established tenancy and a track record of consistent rental performance with room for increase. Both units access the front porch, while the only the 1st floor unit has access to the unfinished basement, currently used for storage.  Located in the heart of West Philly, 5304 Chestnut Street offers the combination of updated construction, separate utilities, individual entrances, and long-term tenants that make this a no-brainer as an owner-occupied purchase or an addition to an investment portfolio. It's walkable to 52nd St's 52 bus, Chestnut St's 21 bus, Spruce St's 42 bus, Baltimore Avenue's 34 trolley, and the Market-Frankford line to 69th St Terminal or Center City. The proximity to Philadelphia's top medical and educational institutions make it a win! Tenants in place - Showings require 24 hour notice.