$ 599,000
-
$599,000
Price -
0
Bed -
3
Bath -
2,592
SqFt
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About the Listing COMPASS2 - 3188075
Excellent opportunity to purchase a mixed-use multi-family property in the heart of rapidly appreciating Olde Kensington. This fully leased, income producing, CMX2.5 building offers three residential units over one commercial space. The property currently generates $4,825/month ($57,900/year), with low operating expenses and exceptionally low annual taxes of just $3,002 (2026). Originally purchased from an owner-occupant with a rental license for one rental unit over retail space, the property has since undergone a significant legal conversion and improvement process. The building was formally and legally converted to three residential units over one retail space to reflect the accurate configuration of the property. The permitting and inspection process was managed through the Philadelphia Bureau of Building Standards. The building had previously been refreshed in 2019, including updated kitchens, bathrooms and flooring. Most recently, 2026 updates include a brand new asphalt roof, hot water heater, washer/dryer, and 6 new windows. This fully leased property offers a rare combination of income-producing use, updated condition, documented compliance work, and the possibility of long-term upside in one of Philadelphia’s most active growth corridors. Surrounded by continued development, new construction, restaurants, popular retail, and a short walk to public transportation (the Berks Street El stop is only a few blocks east!) - it is an investors dream. With its updated licensing, Certificate of Occupancy, and desirable mixed-use configuration, this is a compelling opportunity for buyers seeking both current cash flow and future appreciation. Buyer is responsible for independently verifying lot size, taxes, zoning, permitted uses, rental licensing, Certificate of Occupancy, and any egress/ingress requirements. Current licensing documents and rent roll available for review upon request by qualified buyers. Photos shown are of unit 1 (the smallest studio layout in building). All residential units have similar level of finishes and are all studios.
Listing Highlights
Status
Active
Days on Site
9
Property Type
Multi-Family
MLS ®
PAPH2639684
Year Built
1925
Total Square Footage
2,592
Lot/Acreage
0.03
County
Philadelphia
Neighborhood
Olde Kensington
Area
19122 (19122)
School District
Philadelphia City
Interior Details
- Bedrooms: 0
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2592
- Below Ground Sq Ft: 0
- Basement: Poured Concrete
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 16x72
- Zoning: 3 Residential over 1 Commercial
- Roof: Asphalt
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $3,002
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
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Questions About..
1904 N 2nd St Philadelphia, PA 19122
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