1627 N 56th St, Philadelphia, PA 19131

Property Description

Income-Producing Triplex in Overbrook Park | Newly Renovated 2nd Floor Kitchen, Ready for Its Next Tenant This three-unit property has three 2-bedroom apartments and a current rental license, and it's ready for an investor to step in and grow its income. Current Rents: 2nd Floor (2BR): $1,700/month – recently vacated, newly renovated kitchen 1st Floor (2BR): $1,650/month – reliable PHA tenant Lower Level (2BR): $1,450/month – reliable PHA tenant Total: $4,800/month Upside Potential: All three units currently rent below the PHA payment standard. Current PHA standards show up to $2,010/month for a 2-bedroom, which could bring potential gross rent to about $6,030/month once the building is fully leased at updated rates. Increases for the PHA units are subject to PHA approval. Features: On-site laundry machines Updated fire alarm system Current rental license Vacant 2nd floor ready to lease at market rate Leases are available on request. The property is sold as-is, where-is. The seller will consider cash, hard money, and conventional financing. Inspections are for informational purposes only.