402 Fairmount Ave, Philadelphia, PA 19123

Property Description

Welcome to 402 Fairmount Avenue, a rare opportunity to own a four unit property in the heart of Northern Liberties, one of Philadelphia’s most desirable and walkable neighborhoods. This versatile property is ideal for an owner occupant, first time homebuyer looking to house hack, or an investor seeking immediate rental income with long term upside. Three of the four units are currently rented, providing steady income from day one, while one unit has been intentionally left vacant to allow flexibility for the next owner. This creates an excellent opportunity for an owner occupant to move in and take advantage of low down payment financing options while offsetting expenses with rental income. The first floor offers a unique layout with potential for a private residence, studio, or possible business or retail use, subject to buyer verification with the City of Philadelphia. The space was historically used as retail decades ago, adding to the property's flexibility and potential. A private courtyard adds additional value and can be enjoyed personally or potentially incorporated into a business setting, with access through the common area. The second and third floor rear units are both well maintained one bedroom apartments with functional layouts. The front unit spans the second and third floors and features a spacious two bedroom, two full bathroom layout. Enter through the second level to find the kitchen, dining area, living room, and private balcony. The third level includes a large bedroom, full bathroom, walk in closet, and in unit washer and dryer, with an additional bedroom located on the top floor. This property has been owned by the same family for nearly 100 years and has been well maintained over time. A brand new PVC sewer line has recently been installed, adding peace of mind for the next owner. Located in Northern Liberties, you are within walking distance to popular restaurants, cafes, shops, and nightlife, with convenient access to Center City and major transportation routes. This is a prime location with strong demand from both renters and homeowners. A true multi use opportunity offering flexibility, character, and income potential. Property is being sold as is.