Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1915
Sq.Footage
N/A
Incredible investment opportunity in the heart of Pennsport, this fully occupied three-building portfolio features seven residential units across 1228 S 2nd St, 1230 S 2nd St, and 1231 S Philip St. The unit mix includes five 2-bedroom / 1-bath units and two 1-bedroom / 1-bath units, ideal for renters seeking space and location. One of the 1-bedroom units is a large lofted space perfect for extra office or storage. Several units have been upgraded, including a fully renovated first-floor unit at 1230 S 2nd featuring a modern kitchen, new flooring, and a waterproofed basement. Other units offer private outdoor amenities such as backyards and basement access. In-unit laundry and recent seller upgrades such as new roofs, upgraded HVAC systems, and finish updates throughout enhance tenant appeal and reduce long-term maintenance costs. The portfolio is currently producing stable income (roughly $88K of in-place NOI), with room to increase rents through targeted updates and aligning with market rates (projected $106K market-rate NOI). The 7-unit portfolio includes 1228 S 2nd St (021384000), 1230 S 2nd St (021384110), and 1231 S Philip St (021385310). The total building square footage of the three properties is approximately 5,625. Situated just steps from Dickinson Square Park and the vibrant 2nd Street commercial corridor, tenants enjoy a highly walkable neighborhood with quick access to I-95, public transit, and Center City. This is a rare chance to acquire a stabilized, income-producing asset with long-term upside in one of South Philadelphia’s most desirable and appreciating neighborhoods.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.02
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Parking
None
Financial
-
Sales Price
$1,495,000
-
Tax Amount
4640.0
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Michael D Phillips , Compass Pennsylvania, LLC
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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