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MLS: #PAPH2582090, Listed By: Toma Holovatskyy, RE/MAX Plus, Source:Bright MLS

2031 E Susquehanna Avenue

PHILADELPHIA, PA 19125
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Bed 6

Bed

Bath 0

Bath

SqFt2,310

Sqft

Acres0.03

Acre(Lot)

Inquire about the 3D walkthrough of the whole building! Price improvement, and now 2 of the 3 units renewed through Summer 2027! The top floor unit can be delivered vacant on August 1 for an owner-occupant or rented out if the buyer is an investor. A rare opportunity to acquire a fully renovated triplex in one of Philadelphia's most desirable markets. All three 2-bed/1-bath units have been updated with new kitchens, hardwood floors, central AC and heat, in-unit washer/dryer, and updated plumbing, electric, and mechanicals, making this a true turnkey asset with strong tenant demand from day one. The property currently generates $55,020 in annual gross rental income which would put it at 11.06x GRM which is better than the area average of 11.55x, even though two of the three units were lease d $100 to $150 below market during the off-season in September & November. Lease expirations are in June, July, and August which align perfectly with peak rental season, giving the new owner a clear path to capture that upside without any construction. There is also a meaningful tax opportunity. The city slapped a huge $10,800 annual tax bill on the property which is based on a city's 750k assessment. An appeal at the $609K purchase price would bring taxes down to approximately $9,000, saving roughly $1,800 per year. The owner already started the appeal process with the city. Combined with the rent increases, that is over $4,200 in additional annual income achievable through leasing and paperwork alone, pushing the projected CAP rate to 6.6% and GRM to 10.62x with conservative rents, which is exceptional for this submarket. For the owner-occupant, this is truly turnkey. Move in, skip the leasing process, and start collecting rent on day one in a natural house-hack setup where the other two units cover your carrying costs while you settle in. All current tenants are highly qualified and maintain the property well. All the units are beautifuly furnished & taken care of. A mortgage broker is available to consult on monthly payments and how to acquire this asset with as little money down as possible. Leases, applications, and full rent history available upon request.

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Detail Ic Property Details

Property Type : Residential Income

Price : $609,000

AD Id : 75389290

MLS Id : PAPH2582090

Beds : 6

Lot Size : 0.03 Acre

Living Area Size : 2,310

Year Built : 1917

County : PHILADELPHIA

Subdivision: Fishtown

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Map

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Feature Features

  • Bedroom Information

    Total beds: 6

    Room Information

    Rooms Total: 6 Has Basement: Yes Basement: Other
  • Flooring Information

    Hardwood
  • Interior Features

    Appliances: Electric Water Heater, Dishwasher, Range Hood, Refrigerator, Washer, Dryer
  • Heating & Cooling

    Has Heating: Yes Heating: Natural Gas, Forced Air Has Cooling: Yes Cooling: Central Air, Electric

  • Building Information

    Year Built: 1917 Building Area Total: 2310 Patio And Porch Features: Patio Pool Features: None Private Pool: No

  • Lot Information

    Lot Dimensions: 14.00 x 82.00 Lot Size Acres: 0.03 Lot Size Source: Assessor Lot Size Square Feet: 1141

    Property Information

    Subdivision: EAST KENSINGTON Source Property Type: Residential Income Postal Code Plus 4: 1564 Property SubType: Triplex Property Age: 109

  • Listing Price Information

    Listing Price: $609000

  • Tax Information

    Parcel Number: 313038200 Tax Lot: 74 Tax Year: 2025 Annual Tax: $10848

  • Parking Information

    None

  • Utility Information

    Natural Gas Available, Electricity Available
  • Location Information

    Direction: Please use GPS WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2621 Sepviva Street, Philadelphia, PA, 19125 $275,000 1 -- 975 975 SqFt
1235 E Berks Street, Philadelphia, PA, 19125 $399,900 3 -- 1,790 1,790 SqFt
1345 E Susquehanna Avenue, Philadelphia, PA, 19125 $2,950,000 4 -- 17,500 17,500 SqFt
717 E Thompson Street, Philadelphia, PA, 19125 $499,000 3 -- 1,840 1,840 SqFt
2557 Amber Street, Philadelphia, PA, 19125 $749,000 -- -- 3,609 3,609 SqFt
2655 Emerald Street, Philadelphia, PA, 19125 $549,900 3 -- 1,020 1,020 SqFt
2525 Frankford Avenue, Philadelphia, PA, 19125 $2,225,000 6 -- 5,500 5,500 SqFt
440 E Girard Avenue, Philadelphia, PA, 19125 $745,000 3 -- 3,688 3,688 SqFt
2427 Frankford Avenue, Philadelphia, PA, 19125 $699,900 2 -- 1,803 1,803 SqFt
1938 E Harold Street, Philadelphia, PA, 19125 $200,000 12 -- --

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ByOwner last updated this listing 06/20/2026 @ 16:56

MLS: PAPH2582090 LISTED BY: Toma Holovatskyy, RE/MAX Plus 215-422-3711 SOURCE: Bright MLS

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