Renovated Triplex in Kingsessing
1247 South 53rd Street, Philadelphia, PA 19143
Completely renovated triplex with tax abatement and strong rental income.
Type:Multi-Family / Fee Simple
Property size:
2,900 SFPrice / SF:
$181/SF- Added:
- May 15, 2026
- Days on Market:
- 17
- Last Refresh:
- May 15 at 11:19 pm
Property Features for 1247 South 53rd Street
General Information
- Standard status
- Active
- Size
- 2,900 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1917
Listing agent Eric D Feinberg License #RS318964 (484) 948-5872
Listing office Keller Williams Realty Group (484) 948-5872
Listing date May 15, 2026
Source Compass
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Group
HighLights
- Tax Abatement through 12/31/30 provides significant savings.
- Completely renovated in 2019, offering modern living and reduced maintenance.
- Triplex configuration generates substantial rental income, ideal for investors or owner‑occupants.
- Prime location in the desirable Kingsessing neighborhood, close to universities, hospitals, and Baltimore Avenue's commercial corridor.
- Ideal unit mix (2BR/2BA, 2BR/1BA, 1BR/1BA) attracts quality tenants.
- Excellent access to public transportation, including trolley lines and proximity to the airport, bus, metro, and commuter rail.
Overview
This triplex, completely renovated in 2019, features three residential units and offers an investment opportunity with cash flow and a tax abatement through December 31, 2030. The property also presents an opportunity for an owner-occupant to live in a renovated unit while offsetting expenses with rental income. The unit mix includes a bi-level unit with 2 bedrooms, 2 full bathrooms, and den/office spaces; a unit with 2 bedrooms and 1 full bathroom; and a unit with 1 bedroom and 1 bathroom. Located in the Kingsessing neighborhood, the property is near the University of Penn, Drexel University, CHOP, and Penn Hospital. Public transportation is easily accessible, including Trolley Lines 13 and 34, and it is located near Baltimore Avenue. The property is suitable for investors seeking cash flow and long-term upside, or an owner-occupant wanting to reduce housing expenses while owning a renovated building in Philadelphia. The property size is 2900 square feet. Transportation options include the airport less than 10 miles away, and a bus stop, metro/subway station, and commuter rail station all less than 1 mile away.
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 | $48.4k | $16.68 |
| − Vacancy | −$3.5k | −$1.20 |
| EGI | $44.9k | $15.48 |
| − OpEx | −$13.5k | −$4.64 |
| NOI | $31.4k | $10.83 |
2,900 SF · lease $16.68/SF/yr · vacancy 7.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$448.8K
$392.7K – $523.6K
NOI $31,416 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$399.2K
$349.3K – $465.7K
NOI $27,943 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$994.0K
$869.7K – $1.16M
NOI $69,578 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.2272007
- Latitude
- 39.9725696
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Completely renovated triplex with tax abatement and strong rental income.
Where is this triplex located?
The property is located at 1247 South 53rd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Tax Abatement through 12/31/30 provides significant savings.; Completely renovated in 2019, offering modern living and reduced maintenance.; Triplex configuration generates substantial rental income, ideal for investors or owner‑occupants.
