1219 N 29th Street

Philadelphie, PA 19121

Welcome to 1219 N 29th Street, a LEGAL triplex (100% residential) with active rental licenses located in the heart of booming Brewerytown. If you are looking for a 9% CAP RATE, then this is the asset for you! The opportunities are endless here; purchase as a cash flowing triplex, live in one unit and rent out the other two, convert the 1st floor to commercial with 2 residential units above based on the CMX2 zoning guidelines or update the units to increase your gross rents and After Repair Value (ARV)! Located right off Girard Ave this location has everything you would want for future rent growth and asset appreciation; Girard trolley stop right outside plus local bus routes, Immediate access to I-76, and other major expressways! Local attractions range from breweries, cafes, parks, and nightlife right outside your door to iconic landmarks like Fairmount Park, Art Museum, Boathouse Row, Eastern State Penitentiary, and so much more within minutes! Your local grocery shops are the popular ALDI and WholeFoods, it doesn't get better than that! The property is laid out as 3 one bedroom, one bath units with one unit per floor making each unit a flat. The 1st-floor unit has a private backyard and basement access which has 7.5-foot ceiling providing the opportunity for future finish-able square footage without having to underpin. This unit is currently vacant and has a projected rent of $1100 as is. The 2nd-floor unit is currently occupied on a month-to-month lease for $950 per month and the tenant has been in place since 2016. Finally, the 3rd-floor unit is vacant with a projected rent of $800 month rounding out the total projected GROSS RENTS OF $2850 per month or $34,200 per year. A 9% CAP RATE- not too shabby! Reach out for a private showing today as this one won't last long!