651 N 33rd Street, Philadelphia, PA 19104

Property Description

Welcome to 651 N 33rd Street. An exceptional triplex opportunity for investors, owner occupants or college parents seeking to house their student while building equity and generating income. With proximity to Drexel & UPenn, parents can provide secure housing for their child in one unit while the remaining units cover the mortgage and expenses. Unit 1 and 2 are both 2 bedroom, 1 bath each occupied on yearly leases at $1450 a month . Unit 3 is a vacant 5 bedroom, 3 bathroom unit which was most recently owner-occupied with individual room rentals. This versatile 3rd unit includes a self-contained efficiency with its own mini kitchen and private bath, ideal for maximizing rental income. Historic room rental rates have been $900, $800, $700, $700, and $650 per month, providing a monthly income of $3,750 from this unit alone. Comprehensively renovated in 2017, this turnkey property combines immediate cash flow with significant tax savings. Historic gross annual income is $79,800. Annual operating expenses total approximately $13,602. Net Operating Income (NOI): $66,175, representing an attractive return for investors seeking cash-flowing real estate with minimal management required. The remaining tax abatement period provides substantial cost savings over the next two years, further enhancing returns.

Property Features

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