Property Description

This well-maintained residence, originally built circa 1925, seamlessly combines historic charm with modern enhancements. Offering 7 bedrooms and 2 full bathrooms, the home features a spacious and flexible floor plan while retaining many of its original architectural details, including the classic staircase and distinctive curved design elements that reflect its timeless character. The property is currently leased under a long-term master lease agreement with PadSplit, which rents the individual bedrooms to separate occupants. Monthly income fluctuates based on room occupancy but averages between $6,000 and $7,000 per month. PadSplit receives 8% of the gross monthly rental income for property management services, while the owner is responsible for all utilities. The renovated kitchen is equipped with stainless steel appliances and updated finishes, complementing the home's blend of historic appeal and modern convenience. Both full bathrooms have been updated, with one located on the main level and the second situated upstairs. Two additional bedrooms have been added on the first floor near the front entrance. The second floor contains three bedrooms, while the upper level provides two additional rooms, bringing the total bedroom count to seven. This versatile layout is ideal for large households, shared living arrangements, guest accommodations, or home office use. Significant system upgrades include a new boiler and a new central air conditioning system, enhancing year-round comfort and efficiency. The property also offers a full unfinished basement with laundry facilities and abundant storage space. A washer is currently installed, and a new dryer is scheduled to be added. Outside, the fenced rear yard provides a private outdoor setting suitable for relaxation, gardening, or entertaining. With seven bedrooms, multiple bathrooms, and a strong income-producing setup, this property presents an attractive investment opportunity with excellent cash flow potential and long-term growth prospects. The home is conveniently located approximately four minutes from the Lancaster Avenue and 43rd Street transit stop, offering easy access to the Route 10 trolley line (13th-Market to 63rd-Malvern) and the Route 43 bus line (Richmond-Cumberland to 50th-Parkside), making travel throughout Philadelphia convenient and accessible. Residents can also enjoy nearby outdoor spaces, including Lee Park and Durham Park, which provide additional recreational opportunities within the neighborhood. Blending historic character, modern improvements, generous living space, and convenient access to public transportation, this distinctive Philadelphia property offers a unique opportunity for both investors and owner-occupants alike. Schedule your showing today.

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