For Sale

Description

This beautifully maintained circa 1925 residence blends timeless character with thoughtful modern updates, offering a spacious and versatile layout with 7 bedrooms and 2 full bathrooms. The interior has been renovated while preserving the home’s classic charm and architectural details, including the original staircase and elegant curved design elements that highlight its historic character This property is currently rented out under a long term master lease agreement to Pad Split which then rents out each individual room to tenants. The monthly income varies depending on occupancy of the rooms but the property generates an average of $6,000 - 7,000/month. Pad Split is paid 8% of the gross monthly income for the management of the property. The landlord covers all utilities. The updated kitchen includes stainless steel appliances and modern finishes, while both bathrooms have been refreshed with contemporary updates. One full bathroom is conveniently located on the main level, with the second on the upper floor. Two additional rooms were added on the main floor, right as you walk in. The second floor features three rooms, and the fourth floor offers two more, bringing the home’s total to seven bedrooms—perfect for larger households, guests, or flexible home office space. Major mechanical updates include a new boiler and new A/C system, providing comfort and efficiency throughout the seasons. The home also features a full unfinished basement with ample storage and laundry, with a washer already in place and a new dryer scheduled for installation. Step outside to enjoy the fenced rear yard, offering a private outdoor space perfect for relaxing, gardening, or entertaining. With its 7-bedroom layout, multiple bathrooms, and prime location, the property offers excellent rental income potential and a strong return on investment, ideal for investors seeking long-term growth and cash flow. Conveniently located, the home is approximately four minutes from the Lancaster Ave & 43rd St transit stop, providing easy access to the 10 (13th–Market to 63rd–Malvern) trolley line and the 43 (Richmond–Cumberland to 50th–Parkside) bus route, making commuting throughout the city simple and convenient. Outdoor recreation is also close by, with nearby green spaces including Lee Park and Durham Park, offering places to relax and enjoy the neighborhood. Key Bank is offering a 5K credit for this property which can be tied in with the Philly First 10K grant. The 5K credit can be applied toward Closing Costs or to prepay mortgage, flood/hazard insurance, escrow deposit, real estate taxes, or per diem interest. Combining historic character, modern updates, generous living space, and excellent access to transportation, this home presents a wonderful opportunity to own a distinctive property in Philadelphia. Schedule your showing today!