1. Pennsylvania
  2. Philadelphia
  3. 1230 S 2ND STREET
$1,495,000

1230 S 2ND STREET, Philadelphia, PA 19147

  • 1,728 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1915
  • Property Lot Size Icon871sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $865/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Incredible investment opportunity in the heart of Pennsport, this fully occupied three-building portfolio features seven residential units across 1228 S 2nd St, 1230 S 2nd St, and 1231 S Philip St. The unit mix includes five 2-bedroom / 1-bath units and two 1-bedroom / 1-bath units, ideal for renters seeking space and location. One of the 1-bedroom units is a large lofted space perfect for extra office or storage. Several units have been upgraded, including a fully renovated first-floor unit at 1230 S 2nd featuring a modern kitchen, new flooring, and a waterproofed basement. Other units offer private outdoor amenities such as backyards and basement access. In-unit laundry and recent seller upgrades such as new roofs, upgraded HVAC systems, and finish updates throughout enhance tenant appeal and reduce long-term maintenance costs. The portfolio is currently producing stable income (roughly $88K of in-place NOI), with room to increase rents through targeted updates and aligning with market rates (projected $106K market-rate NOI). The 7-unit portfolio includes 1228 S 2nd St (021384000), 1230 S 2nd St (021384110), and 1231 S Philip St (021385310). The total building square footage of the three properties is approximately 5,625. Situated just steps from Dickinson Square Park and the vibrant 2nd Street commercial corridor, tenants enjoy a highly walkable neighborhood with quick access to I-95, public transit, and Center City. This is a rare chance to acquire a stabilized, income-producing asset with long-term upside in one of South Philadelphia’s most desirable and appreciating neighborhoods.

Listing Status:
Active
Date Added:
April 16, 2025 at 05:00AM
Listing Office:
Compass Pennsylvania, LLC : 2674358015
Listing Agent:
Michael D Phillips : 2677139616
MLS ID:
PAPH2468388
  • Basement: Full
  • A/C: Central A/C
  • Heating: YCentralElectric
  • Disability Feature: None

This listing courtesy of Michael D Phillips, Compass Pennsylvania, LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

V

Vare-Washington School

1198 S 5th St, Philadelphia, PA, 19147

Grades KG-8

0.29 miles away

V

Vare-Washington School

1198 S 5th St, Philadelphia, PA, 19147

Grades KG-8

0.29 miles away

F

Furness High School

1900 S 3rd St, Philadelphia, PA, 19148

Grades 9-12

0.58 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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