1518 E Passyunk Ave, Philadelphia, PA 19147

Property Description

Excellent investment opportunity in the heart of East Passyunk! Located at 1518 E. Passyunk Avenue, this updated, fully leased multi-family property offers multiple residential units in one of South Philadelphia's most desirable and vibrant neighborhoods. The property presents one-bedroom apartments, with updated kitchens featuring white cabinetry, modern bathrooms with subway tile, stainless-steel appliances and durable vinyl plank flooring. The building also includes a full basement with a utility area, tenant storage closets, and separate coin-operated laundry facilities. The property is fully leased, currently generating approximately $72,105 in annual rental income, plus additional laundry income, and almost immediate potential to increase rents. Ideally situated just steps from the iconic Passyunk Square fountain, Black & Brew, and the many popular restaurants, cafés, boutiques, and neighborhood attractions along East Passyunk Avenue. This highly walkable location offers convenient access to public transportation, Center City, and surrounding neighborhoods. Whether you're looking to expand your investment portfolio or acquire an income-producing property in a sought-after rental location, this property presents an excellent opportunity to invest in the continued appeal and growth of East Passyunk. Schedule your showing today!