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Triplex with Private Flex Spaces

1620 MOUNT VERNON Street Philadelphia, PA 19130

1620 MOUNT VERNON Street, Philadelphia, PA, 19130
$869,000
For Sale
$869,000

MULTI_FAMILY - Other - PHILADELPHIA, PA

Property Size2,700 SF
Lot Size0.03 Acres
Price / SF$321.85
Days on Market37

Property Features for 1620 MOUNT VERNON Street

General Information

Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Standard status
Active
Size
2,700 SF
Lot size
0.03 Acres

Taxes and HOA fees

Tax Annual Amount
11548

Utilities

Heating system
Forced Air
Cooling system
Central Air

Building Details

Year built
1915
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency OCF Realty LLC - Philadelphia
1936 Washington Avenue, Philadelphia, PA
Listed by Kevin M McGettigan · License #RS326539
Added: Jun 12 Checked: Jul 18 at 7:06 am
MLS# PAPH2634424 Listing URL

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

This legally zoned triplex is currently configured as three rental units plus three additional flex spaces, with private access to each flex area from its respective floor. The first floor includes an owner-occupied one-bedroom, one-bath unit with access to a private rear yard. A flex space on the first floor features soaring ceilings, a large living area with original wood floors, and a marble fireplace. The second floor is a one-bedroom, one-bath unit with a separate laundry and distinctive original woodwork, along with abundant windows. The third floor offers a studio with a full bath, in-unit laundry, and private access to a rear deck, plus a flex space with a kitchenette and a large full bathroom with a glass walk-in shower. A full-length unfinished basement with ceiling height supports storage needs.

The property is located at 1620 Mount Vernon Street in Philadelphia, within the Fairmount/Spring Garden area. It sits on a quiet block and features a marble entry and original woodwork details throughout the building. The area is described as walkable, with nearby retail and dining options including Whole Foods and major grocers, as well as green spaces such as The Spring Gardens and Clemente Playground. Transit access includes nearby SEPTA bus routes and easy access to the Broad Street Line’s Spring Garden Station, described as about two blocks east, connecting into Center City.

For tenants or buyers, the mix of three rental units and private-access flex space can support flexible living and space planning, including potential combinations between units and flex areas as described. Owner-occupants can occupy one unit while collecting rent from the others, and the basement provides additional storage. Investors may also explore opportunities related to the building’s current configuration and zoning framework as outlined in the listing remarks.

Key Highlights

  • Legally zoned as a triplex with 3 rental units plus 3 additional flex spaces on each floor, each with private access
  • First‑floor owner‑occupied 1 bed, 1 bath includes access to a private rear yard
  • Second‑floor 1 bed, 1 bath features a separate laundry area and original wood doorway

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $69.7k $25.80
− Vacancy −$3.8k −$1.42
EGI $65.8k $24.38
− OpEx −$19.7k −$7.31
NOI $46.1k $17.06
2,700 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$658.2K
$575.9K – $767.9K (±1% cap)
NOI $46,075 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K (±1% cap)
NOI $42,470 @ 7.0% cap · market cap 4.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Carpet & Flooring Store Tanning Salon Home Appliance Store (Bike/Boat/Book/etc) Store Locksmith (Bike/Boat/Book/etc) Store Veterinary Clinic (Bike/Boat/Book/etc) Store Barber Shop Pet Grooming Service

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Legally configured triplex with private-access flex spaces per floor and in-unit laundry options.
Where is this triplex located?
The property is located at 1620 MOUNT VERNON Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Legally zoned as a triplex with 3 rental units plus 3 additional flex spaces on each floor, each with private access; First‑floor owner‑occupied 1 bed, 1 bath includes access to a private rear yard; Second‑floor 1 bed, 1 bath features a separate laundry area and original wood doorway
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