$ 630,000
-
$630,000
Price -
6
Bed -
3
Bath -
2,310
SqFt
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About the Listing 55821 - 3312814,3128009
3D tour available! Explore the entire building from wherever you are. A rare opportunity to acquire a fully renovated triplex in one of Philadelphia's most desirable markets. All three 2-bed/1-bath units have been updated with new kitchens, hardwood floors, central AC and heat, and in-unit washer/dryer, plumbing, electric, mechianicals making this a turnkey asset with strong tenant demand from day one. The property currently generates $54,180 in annual gross rental income at a 5.83% CAP rate and 11.63 GRM, priced at $630,000 and nearly in line with the neighborhood average GRM of 11.55. Two of the three units are leased below market by $100 to $150 per month, and lease expirations in May and August align perfectly with peak rental season, giving the new owner a clear path to capture that upside without any construction. There is also a meaningful tax opportunity. The current $10,800 annual tax bill is based on a city assessment of $750K, well above the sale price. An appeal at the $630K purchase price would bring taxes down to approximately $9,072, saving roughly $1,728 per year. Combined with the rent increases, that is over $4,100 in additional annual income achievable through leasing and paperwork alone, pushing the CAP rate to 6.6% and GRM to 10.95x, which is exceptional for this submarket. For the owner-occupant, lease terms on Units 2 and 3 expire June 30, 2026 and July 31, 2026, with Unit 1 running through May 2027, creating a natural house-hack setup where the other two units cover your carrying costs while you settle in. All current tenants are highly qualified and maintain the property well. Leases, applications, and full rent history available upon request.
Listing Highlights
Status
Active
Days on Site
40
Property Type
Multi-Family
MLS ®
PAPH2582090
Year Built
1917
Total Square Footage
2,310
Lot/Acreage
0.03
County
Philadelphia
Neighborhood
Fishtown
Area
19125 (19125)
School District
The School District Of Philadelphia
Interior Details
- Bedrooms: 6
- Bathrooms: 3 Full
- Appliances: Dishwasher, Range Hood, Refrigerator, Washer, Dryer
- Air Cond: Central A/C
- Heating: Forced Air
- Fireplaces:
- Floor: Hardwood
- Above Ground Sq Ft: 2310
- Below Ground Sq Ft: 0
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 14.00 x 82.00
- Zoning: RM1
- Roof:
- Others: Excellent
- Sewer: Public Sewer
Financial Details
- Tax Amount: $10,848
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
2031 E Susquehanna Ave Philadelphia, PA 19125
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