1. Pennsylvania
2. Philadelphia
3. 1720 WALLACE STREET

1720 WALLACE STREET, Philadelphia, PA 19130

• 2,397 sqft

Property Description

Exceptional 4-Unit Income Property in the Heart of the Art Museum Area! Incredible opportunity to own a rent-ready, cash-flowing multi-family building in one of Philadelphia’s most desirable neighborhoods—Fairmount/Spring Garden. This well-maintained 4-unit property features three spacious 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Ideal for investors or owner-occupants seeking immediate income and long-term value. Three units are tenant-occupied, generating $56,760 in gross rent in 2024, with strong rental upside—rents have not been raised in 3 years. The owner-occupied 2-bedroom/2-bath unit has rental potential of $2,200–$2,400/month. Market Rent Value Potential APT 101- 1350 APT 102 - 2150 (currently on the market) APT 201 - 2400 APT 202 - 2100 renewed till 7/2026 TOTAL - 8,100/month = 97,100/year in gross income. At asking price the cap rate is 7%. based on net rental income at $80,000 (after ins, taxes, and maintenance) Property Highlights: Turnkey condition—fully rent-ready and move-in ready Three new A/C units installed in the last 3 years Two units with private roof decks offering skyline views One unit with private backyard patio Every unit has washer/dryer, dishwasher, fireplace Immediate cash flow with future growth potential Perfect blend of income-producing and lifestyle location Located in the vibrant Art Museum area with easy access to Kelly Drive, I-76, Center City, and public transit. A rare find in a high-demand rental market—whether you're building your portfolio or looking to live in one unit while renting the others, this is a must-see.

Listing Status:

Active

Date Added:

May 5, 2025 at 05:00AM

Listing Office:

Keller Williams Real Estate -Exton : 6103634300

Listing Agent:

Michael Suh : 2158726175

MLS ID:

PAPH2476616

Interior

• Flooring: HardwoodCarpet
• A/C: Central A/C
• Heating: YHeat Pump - Electric BackUpElectric
• Fireplace: FireplaceFireplaces: 4
• Disability Feature: None

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Michael Suh, Keller Williams Real Estate -Exton