2031 E SUSQUEHANNA AVENUE

PHILADELPHIA, PA 19125

3D tour available! Explore the entire building from wherever you are. 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, and in-unit washer/dryer, plumbing, electric, mechianicals making this a turnkey asset with strong tenant demand from day one. The property currently generates $54,180 in annual gross rental income at a 5.83% CAP rate and 11.63 GRM, priced at $630,000 and nearly in line with the neighborhood average GRM of 11.55. Two of the three units are leased below market by $100 to $150 per month, and lease expirations in May and August 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 current $10,800 annual tax bill is based on a city assessment of $750K, well above the sale price. An appeal at the $630K purchase price would bring taxes down to approximately $9,072, saving roughly $1,728 per year. Combined with the rent increases, that is over $4,100 in additional annual income achievable through leasing and paperwork alone, pushing the CAP rate to 6.6% and GRM to 10.95x, which is exceptional for this submarket. For the owner-occupant, lease terms on Units 2 and 3 expire June 30, 2026 and July 31, 2026, with Unit 1 running through May 2027, creating 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. Leases, applications, and full rent history available upon request.

Listing courtesy of RE/MAX Plus



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