1502 N 17th St, Philadelphia, PA 19121

Property Description

1502 N. 17th Street presents an exceptional turnkey investment opportunity just four blocks from Broad Street and Temple University. This well-maintained, fully occupied quadruplex offers immediate and consistent rental income in one of North Philadelphia's most desirable rental markets. The three-story building consists of four licensed residential units, including two spacious 2-bedroom, 1-bath bi-level apartments and two 1-bedroom, 1-bath apartments. One 2-bedroom unit features a generously sized private deck, while one of the 1-bedroom units includes its own deck as well. All apartments are bright, comfortable, and thoughtfully updated with modern kitchens, full-size appliances, and renovated bathrooms while preserving the property's original character and charm. Additional features include separately metered gas and electric service for all units, shared laundry facilities, a large enclosed rear yard with alley access, and two HVAC systems providing forced-air heat and central air conditioning to the bi-level units. Major capital improvements include a newer roof, five hot water heaters installed in 2021, and a current lead-safe certification valid through January 2028. A unique bonus feature is the approximately 350-square-foot 2-room finished flex space with private access, tiled flooring, and a plumbed toilet. Currently configured as office, studio, or storage space, it opens directly to the rear yard and offers potential for additional income, subject to zoning approval and the installation of a heat source. The property is licensed for four residential units; the flex space is not currently licensed as a residential apartment. The property is fully occupied and currently generates approximately $56,000 in annual gross income, with potential to increase revenue by an estimated $10,000 through optimization of rents and ancillary space. Ideally located near the Cecil B. Moore Station, Temple University, Broad Street, and multiple public transportation options, this property consistently attracts both student and professional tenants, supporting strong occupancy and reliable rental income. Whether you're expanding an investment portfolio or seeking your first multifamily acquisition, 1502 N. 17th Street offers turnkey stability, income potential, and long-term value. *******************************************Please contact Bridget McNamara at 443-622-7090 or bridget.mcnamara@foxroach.com with all questions and offers.