PA > Philadelphia
Philadelphia, PA 19147,1230 S 2ND ST
Philadelphia, PA 19147,1230 S 2ND ST
Philadelphia, PA 19147,1230 S 2ND ST
Philadelphia, PA 19147,1230 S 2ND ST
Philadelphia, PA 19147,1230 S 2ND ST
Philadelphia, PA 19147,1230 S 2ND ST
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Noelle Carter

Noelle Carter

+1(267) 374-8036
$ 1,495,000
Est. payment | /mo

977 Sqft Lot

Save
$ 1,495,000
Est. payment | /mo
Save

977 Sqft Lot

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PAPH2468406

Originating Board BRIGHT

Year Built 1915

Available Date 2025-04-15

Annual Tax Amount $4,640

Tax Year 2024

Lot Size 977 Sqft

Acres 0.02

Lot Dimensions 18.00 x 54.00

Property Sub-Type Five Or More Units

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.

Location

State PA

County Philadelphia

Area 19147 (19147)

Zoning RSA5

Interior

Hot Water None

Heating Central

Cooling Central A/C

Heat Source Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 021384110

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Michael D Phillips • Compass Pennsylvania, LLC
advisor-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(267) 374-8036

noelle@agentcarterphl.com

901 Market St Ste 3020, Philadelphia, PA, 19107

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1230 S 2ND ST