$575,000
Whether you’re looking to invest or live in West Philadelphia’s Cedar Park neighborhood, this handsome Victorian twin triplex at 825 S. 49th Street presents a compelling opportunity. Occupy the first-floor unit while collecting rent from the other two apartments to help offset expenses, or lease all three units and hold the property as a long-term investment.
Set on a wide lot, the residence makes a stately impression with its turreted bay and spire, arched windows, stone-based front porch, and spacious rear yard. Inside, beautifully preserved Victorian details include a traditional vestibule, hardwood floors with decorative inlays, ornate fireplace mantels, and a skylight above the winding staircase.
The property offers three expansive one-bedroom, one-bath apartments located on the first, and second, and third levels each with its own entrance and distinctive character. With the large size of the upstairs units and the central hall baths there have been folks who have used the units as two bedrooms from time to time. The two occupied units currently rent for $1,330 and $1,400 per month. The first-floor unit, most recently rented for $1,350, has been left vacant to provide an owner-occupant with the opportunity to move in. Based on those figures, the property offers potential gross rent of $4,080 per month when fully occupied.
With vision and the appropriate approvals, the property may also offer the potential for conversion back to a single-family residence.
Located among the tree-lined streets of Cedar Park, the property is convenient to Cedar Park and Clark Park, Regional Rail at 49th Street, trolley service along Baltimore and Chester Avenues, and multiple bus routes. Penn, Drexel, CHOP, Center City, and the many neighborhood businesses and amenities of West Philadelphia are all within easy reach.
825 S 49th St, Philadelphia
Listing courtesy of KW Empower. Contact: irene@kwempower.com
