MLS® ID: PAPH853526
2316 SOUTH STREET
PHILADELPHIA, Pennsylvania, 19146 $999,999
Active Under Contract
Located on one of Philadelphia's most vibrant blocks in the incredibly dynamic Fitler Square area, 2316 South is a triplex that offers tremendous rental upside, long term cash flow and appreciation. Blue chip amenities and neighbors on the block include Amazon, Chase Bank, Amrita Yoga, Heirloom by Giant, South Square Market, Toll Brothers and Petco. Recent capital improvements include: new rear roof, new exterior paint and trim (curb appeal), new exterior lighting, new vinyl flooring, reconstruction of Unit 2, framing, drywall and juliet balconies for upper units. Significant investment opportunity awaits for an owner willing to cosmetically enhance all 3 units with new kitchens and bathrooms. Apartments in such a desirable, walkable location will rent themselves as follows: 2000 to 2150 per month for 2bd apartments and 1600 per month for 1bd apartment. The building consists of two (2) 2bd x 1ba apartments and one (1) 1bd x 1ba apartment. Units 2 and 3 were recently occupied prior to remodel. Unit 1 is on lease until February 2020 and it has access to a tranquil rear courtyard and full unfinished basement for storage. All units are individually metered. Central air throughout. Plenty of charming original features include: exposed brick walls, wood beams, and a lofted bed in Unit 3 (in addition to full bedroom). Starbucks, Wawa, Honey's, Green Aisle Grocery, Grace Tavern, Rival Bros Cafe, Ten Stone are within 2 block walk along South Street corridor. Brand new luxury condo building just sold out directly behind this location and another boutique luxury condo is planned next door. Major employers CHOP, HUP and UPenn are located just a short walk across the South Street Bridge and provide strong rental demand 12 months out of the year. Fitler Square Park, Schuylkill River dog park, Rittenhouse Square Park are all within walking distance. Easy walk into downtown Philly and University City as well as Amtrak's 30th Street Station. Located in the coveted Greenfield Catchment, a leading public elementary school in Philadelphia. Also two blocks from the prized Philadelphia School (TPS). Property being sold as is.