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1649 Allengrove St, Philadelphia, PA 19124

$240,000
: 1,344
SqFt

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Sold Price: $240,000
List Price: $249,900
Closing Date: May 18, 2026
Status: CLOSED
MLS#: PAPH2581706
Living Area: 1,344
Lot Size (Acres): 0.03
Style: Other
Year Built: 1925
County: Philadelphia
School District: Philadelphia City

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Property Description

Investor opportunity in the heart of Frankford. This fully leased triplex delivers strong in-place cash flow with an estimated 8.85% cap rate, making it a solid addition to an income-focused portfolio. The property features two 1-bedroom/1-bath units and one studio, all currently occupied with leases in place. Current rents are as follows: Unit #1 rents for $1,050/month with a lease through 12/11/26; Unit #2F rents for $775/month with a lease through 1/31/27; and Unit #2R is a studio renting for $650/month with a lease through 1/31/27. Long-term leases provide stable cash flow with limited near-term turnover. Located just steps from Jefferson Frankford Hospital and the Market-Frankford Line, the property benefits from consistent rental demand and excellent accessibility to public transportation, shopping, dining, and neighborhood amenities. A turnkey, income-producing asset in a well-connected Philadelphia location.

215-669-6079

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Additional Information

Area: 19124 (19124)
Subdivision: Frankford
School District: Philadelphia City
Heating: Forced Air
Cooling: Window/Wall
Water: Public
Sewer: Public Sewer
Basement: Full