1535 Poplar St, Philadelphia, PA 19130

Property Description

1535 Poplar St. offers six units, full occupancy, and strong income in a convenient location making it a compelling opportunity to grow your investment portfolio. Combine this property with the fully occupied six-unit building next door at 1537 Poplar St. separately offered at 975k. The seller prefers to sell both properties together, creating an opportunity to acquire 12 units across two neighboring buildings for a combined asking price of $1,950,000. Together, the package produces $192,276 annually, approximately $16,000 per month in gross rental income. 1535 Poplar generates $95,940 in annual gross rental income and features six one-bedroom, one-bathroom apartments. Each unit has been updated within the last five years, including new air conditioning units, and a 5 year old roof. Most units are leased on 12-month terms, with select apartments on shorter 3-6 month leases. Five of the six units are furnished, with furniture included in the sale, providing flexibility for a new owner to pursue either leasing approach as existing leases expire. Located in Francisville, close to Fairmount and the Philadelphia Museum of Art, the property combines neighborhood appeal with easy access to the city. Nearby Broad Street Line subway service provides a convenient commute into Center City, while proximity to Temple University, dining, and neighborhood amenities enhances its appeal to renters. These conveniences support leasing appeal and the potential for long-term tenant retention. Updated apartments, established occupancy, and flexible lease durations make this a standout portfolio opportunity or potential replacement property for an investor pursuing a 1031 exchange.