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651 N 33RD STREET

PHILADELPHIA , PA 19104

MLS#: PAPH2576796

$799,000

Status: Active
Listing number: PAPH2576796
Listing provided by: Iron Valley Real Estate Exton
Listing agent phone: None
Last update: 2 days ago
On site: 7 days ago
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Property

Beds

4

Full Baths

None

1/2 Baths

None

Year Built

1935

Sq.Footage

2,969

Welcome to 651 N 33rd Street. An exceptional triplex opportunity for investors, owner occupants or college parents seeking to house their student while building equity and generating income. With proximity to Drexel & UPenn, parents can provide secure housing for their child in one unit while the remaining units cover the mortgage and expenses. Unit 1 and 2 are both 2 bedroom, 1 bath each occupied on yearly leases at $1450 a month . Unit 3 is a spacious 5 bedroom, 3 bathroom unit currently owner-occupied with individual room rentals. This versatile unit includes a self-contained efficiency with its own mini kitchen and private bath, ideal for maximizing rental income. Historic room rental rates have been $900, $800, $700, $700, and $650 per month, providing a monthly income of $3,750 from this unit alone. The owner will be relocating upon sale and Unit 3 can be delivered vacant at settlement, giving the new owner complete flexibility to continue the room rental model or lease the entire unit. Comprehensively renovated in 2017, this turnkey property combines immediate cash flow with significant tax savings. Historic gross annual income is $79,800. Annual operating expenses total approximately $13,602. Net Operating Income (NOI): $66,175, representing an attractive return for investors seeking cash-flowing real estate with minimal management required. The remaining tax abatement period provides substantial cost savings over the next two years, further enhancing returns.

Features & Amenities

Interior

  • Total Bedrooms

    4

  • Bathrooms

    N/A

  • Above Grade Finished Area

    2315.0

  • Cooling YN

    YES

  • Cooling

    Central Air, Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Electric, Natural Gas, Forced Air, Heat Pump

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    On Street

  • Patio and Porch Features

    Deck, Porch

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.04

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

  • Architectural Style

    Other

Price

  • Sales Price

    $799,000

  • Tax Amount

    2423.0

  • Zoning

    3-unit triplex

  • Sq. Footage

    2, 969

  • Price/SqFt

    $269

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Foundation Details

    Other

  • Sewer

    Public Sewer

  • Tax Lot

    126

  • Water Source

    Public

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Location

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PHILADELPHIA

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Listing Courtesy of Aaron Alexander Jones , Iron Valley Real Estate Exton

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Agent Theresa Kehler

Owner, President, Investment Property Advisor

Theresa Kehler

Call Theresa today to schedule a private showing.

(215) 605-9647

theresa@tntrealestatesolutions.com


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Welcome to 651 N 33rd Street. An exceptional triplex opportunity for investors, owner occupants or college parents seeking to house their student while building equity and generating income. With proximity to Drexel & UPenn, parents can provide secure housing for their child in one unit while the remaining units cover the mortgage and expenses. Unit 1 and 2 are both 2 bedroom, 1 bath each occupied on yearly leases at $1450 a month . Unit 3 is a spacious 5 bedroom, 3 bathroom unit currently owner-occupied with individual room rentals. This versatile unit includes a self-contained efficiency with its own mini kitchen and private bath, ideal for maximizing rental income. Historic room rental rates have been $900, $800, $700, $700, and $650 per month, providing a monthly income of $3,750 from this unit alone. The owner will be relocating upon sale and Unit 3 can be delivered vacant at settlement, giving the new owner complete flexibility to continue the room rental model or lease the entire unit. Comprehensively renovated in 2017, this turnkey property combines immediate cash flow with significant tax savings. Historic gross annual income is $79,800. Annual operating expenses total approximately $13,602. Net Operating Income (NOI): $66,175, representing an attractive return for investors seeking cash-flowing real estate with minimal management required. The remaining tax abatement period provides substantial cost savings over the next two years, further enhancing returns.

651 N 33RD STREET

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