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816 W Erie Ave, Philadelphia, PA 19140

$225,000
: 1,408
SqFt

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Sold Price: $225,000
List Price: $225,000
Status: CLOSED
Days on Market: 7
Closing Date: Jul 16, 2026
MLS#: PAPH2613072
Subtype: Multi-Family
Style: Traditional
Year Built: 1935
Living Area: 1,408
Lot Size: 1,163
Acres: 0.03
Subdivision: Hunting Park
MLS Area Major: 19140 (19140)

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Property Description

Welcome to 816 W Erie Ave, a value-add triplex opportunity located in the Hunting Park section of Philadelphia. This property offers immediate income with two occupied 2-bedroom units and a partially completed basement space that has the potential to be finished into a 1-bedroom unit, allowing the cap rate to increase from approximately 6.3% to 8.1%. Zoned RM-1, the building allows a triplex by right and comes with plans for continued use as a three-unit property. Additional features include separate utilities and a semi-finished lower-level unit ready for final completion. This property presents a strong investment option or owner-occupant opportunity with value-added upside. Conveniently located near public transit and local amenities, this triplex is offered as-is and provides an excellent chance to expand or begin your rental portfolio.

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Additional Information

Taxes: $2,911
Property Description: Traditional
Zoning: RM1
Heating: Electric Baseboard
Air Conditioning: None
Foundation: Other
School District: Philadelphia City