1720 Wallace Street, Philadelphia, PA 19130-3371 $1,150,000

# of Units: 4
Interior Sq. Ft: 2,397
Acreage: 0.04
Age:105 years
Taxes: $10,247
MLS#: PAPH2476616
Design/Type:
Interior Row/Townhouse

Description

Exceptional 4-Unit Income Property in the Heart of the Art Museum Area! Incredible opportunity to own a rent-ready, cash-flowing multi-family building in one of Philadelphia’s most desirable neighborhoods—Fairmount/Spring Garden. This well-maintained 4-unit property features three spacious 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Ideal for investors or owner-occupants seeking immediate income and long-term value. Three units are tenant-occupied, generating $56,760 in gross rent in 2024, with strong rental upside—rents have not been raised in 3 years. The owner-occupied 2-bedroom/2-bath unit has rental potential of $2,200–$2,400/month. Market Rent Value Potential APT 101- 1350 APT 102 - 2200 (rented out beginning mid June) APT 201 - 2500 APT 202 - 2200 TOTAL - 8,150/month = 97,800/year in gross income. At asking price the cap rate is 7%. based on net rental income at $80,000 (after ins, taxes, and maintence) Property Highlights: Turnkey condition—fully rent-ready and move-in ready Three new A/C units installed in the last 3 years Two units with private roof decks offering skyline views One unit with private backyard patio Every unit has washer/dryer, dishwasher, fireplace Immediate cash flow with future growth potential Perfect blend of income-producing and lifestyle location Located in the vibrant Art Museum area with easy access to Kelly Drive, I-76, Center City, and public transit. A rare find in a high-demand rental market—whether you're building your portfolio or looking to live in one unit while renting the others, this is a must-see.

Taxes: $10,247
Home Assoc: No
Condo Assoc: No
Garage: N
Basement:
Pool: No Pool
School Dist: Philadelphia City

Features

Utilities
Heat Pump - Electric BackUp, Electric, Central A/C, Electric, Hot Water - Electric, Public Water, Public Sewer

Garage/Parking
On Street

Interior
Carpet Flooring, Hardwood Flooring

Exterior
Brick/Mortar Foundation, Masonry, Exterior Lighting

Contact Information

Listing Courtesy of: Keller Williams Real Estate -Exton , (610) 363-4300, klrw331@kw.com

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Listing data as of 5/28/2025.