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1246 S 53rd St, Philadelphia, PA 19143

$404,500
: 1,950
SqFt

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List Price: $404,500
Status: ACTIVE
Price Change: ▼ $10,500 1790190638
MLS#: PAPH2653504
Subtype: Multi-Family
Style: Traditional
Year Built: 1917
Living Area: 1,950
Lot Size: 1,572
Acres: 0.04
Subdivision: Kingsessing
MLS Area Major: 19143 (19143)

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Property Description

Price Improvement! 1246 S 53rd St is a 3 residential unit triplex, offering an investor or owner-occupant a rare mix of immediate cash flow with a value-add opportunity. This lovely three-story brick semi-detached twin situated in a highly desirable pocket of Kingsessing, sits just minutes from UPenn, Drexel Hill, Cobbs Creek Parkway, SEPTA's Market-Frankford Line and local eateries. The building consists of two 2-bedroom/1bath units and one 1-bedroom/1bath unit, with 2 out of 3 units currently occupied on a long term lease generating annual gross income of $28,900+, leaving the vacant unit open to execute a value-add strategy, or live in one unit while collecting rental income from the others. The price, size, and condition of the property make this attractive for tenants looking for a centralized location fostering strong rental demand. This is a perfect opportunity for an investor seeking great cash flow and long-term upside in an appreciating neighborhood, or an owner-occupant wanting to significantly reduce their monthly housing expenses. Don't miss the chance to secure a multi-unit property with significant growth potential in a rapidly developing pocket of the city!

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Additional Information

Interior Features: Ceiling Fans, Dining Combo, Bath in Primary Bedroom, Recessed Lighting, Wood Floors, Other
Exterior Features: Street Lights, Sidewalk, Other
Taxes: $4,498
Property Description: Traditional
Zoning: RSA3
Flooring: Hardwood, Vinyl
Appliances: Electric Range, Gas Range, Refrigerator, Dishwasher, Dryer
Heating: Forced Air, Radiant
Air Conditioning: Ceiling Fan(s), Window/Wall
Roof: Shingle, Other
Foundation: Concrete Perimeter, Slab, Other
School District: The School District Of Philadelphia