Filled with character, this exceptional Victorian triplex in renowned Kingsessing Park captivates with its charm and strategic design. The property is a goldmine for an owner-occupant investor eager to reap pre-existing cash flow benefits, with the potential of your tenants covering your mortgage whilst the value of your investment escalates fearlessly. The alternative proposition is to capitalize on the single vacant unit, making this an all-occupied triplex that could be an enviable addition to your portfolio.
This property applauds its history by carefully preserving many original details, classics like molding and trim, reflecting the timeless appeal of West Philadelphia's Victorian architecture. Practicality meets aesthetics with bay facades and dormers entirely rebuilt in 2018, matched with new windows and siding for enhanced comfort and curb appeal. 2022 saw crucial renovations including a complete roof rebuild (covered by a 10-year warranty), and a refreshing overhaul of the first two floors. The resilience of this property extends into safety, with external masonry repair and the fire alarm system completely replaced and re-certified.
The triplex is supplemented with modern conveniences for effortless property management, with an installed Ring video surveillance system and Google Nest thermostat, making remote property management a reality.
The property's impressive unit offerings begin with the first-floor 1 bed/1 bath apartment, renting for $1,100/mo. Boasting new floors, a retiled bathroom, direct access to the yard, and a stunning kitchen with granite countertops and stainless appliances, it's the epitome of convenience wrapped in grandeur. On the second floor, another 1,100/mo unit offers two bedrooms and a bath, complete with renovation enhancements. Lastly, the third floor presents a three-bedroom, one bathroom apartment, renovated only recently in 2024, ready for occupancy at $1,300/mo.
Additional features include a capacious full basement, ready to serve as additional storage or laundry for the occupants. Every unit is washer and dryer ready, with hookups in each space. Individual metering of electricity and gas for each unit allows for easier utility management. As an added bonus, the tranquil green space of a fenced backyard is a calming retreat for all occupants.
Sited across the Kingsessing Park, you'll never be far from fresh air, green spaces, tennis courts, and basketball courts offered by the well-maintained park. The triplex's prime location is in close proximity to Clark Park, University City, University of Pennsylvania, CHOP, and the University of the Sciences. Moreover, you'll find local light rail accessibility conveniently on the block. This triplex captures the ideal blend of modern upgrades, historic charm, and sought-after location making it a unique investment opportunity.
