1901 N 2nd St, Philadelphia, PA 19122

Property Description

This is the kind of investment property buyers wait for. Rarely available large corner triplex in highly desirable Norris Square, offering just under 3,000 square feet, exceptional natural light, strong existing income, and multiple ways to create additional value. Thanks to its prominent corner position, oversized windows, and impressive 10+ ft ceilings throughout each floor, the building feels noticeably larger, brighter, and more open than the typical Philadelphia multifamily property. The property consists of three spacious 2-bedroom, 1-bath units, each featuring a modern, updated layout and its own washer and dryer. Units 2 and 3 take it a step further with private balconies accessed through sliding glass doors, giving tenants highly desirable private outdoor space rarely found in comparable rentals. The first-floor unit features its own private entrance, while the second- and third-floor apartments are accessed through a separate secure entrance, creating excellent separation between units. An additional bonus storage room on the first floor provides even more functionality for an owner or tenants. From an investment standpoint, this property is already positioned as a cash-flow machine. The first-floor unit is occupied by a strong existing tenant paying $1,550 per month, the second-floor unit is rented at $1,850 per month, and the vacant third-floor unit is projected at approximately $2,000 per month, creating potential gross rental income of approximately $5,400 per month / $64,800 annually. The third floor also presents a straightforward value-add opportunity, needing only light TLC to maximize its rental potential and presentation. For investors, this is a compelling opportunity to acquire a stabilized multifamily asset with additional upside. For an owner-occupant, the setup creates an equally attractive house-hacking opportunity—live in one unit while rental income from the others significantly offsets your housing costs. Located in Norris Square, the property sits in one of Philadelphia's most active residential pockets, surrounded by continued redevelopment and conveniently positioned near Fishtown, Kensington, neighborhood restaurants, shopping, public transportation, and major corridors throughout the city. Large corner triplex. Strong existing tenants. Private outdoor space. Nearly 3,000 square feet. Value-add upside. Serious income potential. Whether you're looking to expand your portfolio or live in one unit while the other two help pay the mortgage, this is a rare Norris Square investment opportunity that delivers both cash flow and long-term upside.