1529 E Berks St Philadelphia, PA 19125

This turn-key, fully leased and legal triplex is located in the Fishtown neighborhood. The property benefits from a tax abatement with 9 years remaining. All units have newly installed central air and heat. Tenants are responsible for all utilities, including electrical, water, and gas. The triplex has a history of low vacancy rates. Unit 1 is a 2-bedroom, 1-bath unit with high ceilings, large windows, and a private backyard. The current rent is $1829, extended another year to $1864. Unit 2 is a 1-bedroom, 1-bath unit with a generously sized bedroom and large windows overlooking the street. The current rent is $1525, extended another year to $1554. Unit 3 is a 1-bedroom, 1-bath unit with a large kitchen and sizable bedroom. The current rent is $1320. The basement is equipped with a French drain system and sump pump, as well as a washer and dryer. The property is situated on a quiet residential block near ReAnimator Coffee, Cedar Point Bar and Kitchen, and Loco Pez, and the Anna and Bel boutique hotel restaurant and lounge. It is a 5-minute walk to the El and bus routes and a short drive to I-95 and I-76. The vibrant Frankford Ave is within walking distance. The property size is 2154 square feet and the lot size is 0.03 acres. The annual operating expenses are $13,379, and the annual income is $56,088, with projections for increases due to annual rental increases. The current cap rate is 5.97%.